Chronoly.io (CRNO) Books 560% Gains, Cosmos (ATOM) And Near Protocol (NEAR) Tumble
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The crypto ecosystem entered its bearish phase in May 2022 with reputable cryptocurrencies like Bitcoin, Cosmos (ATOM) and Near Protocol (NEAR) facing the brunt of the market. While traders often look at a bear market as a time to pull their money from investments, this market can also be used to one’s advantage.
To emerge potentially successful from a bearish phase, traders are advised to diversify their portfolios, believe in long term investments, invest in unique use cases and stick around till the very end of this phase. The 2022 bear market saw the launch of new and unique cryptos with diverse use cases. Chronoly.io is one such crypto that has booked 560% gains, even in its pre-sale phase!
What is Chronoly.io (CRNO)?
Chronoly.io (CRNO) is the world’s first NFT-based watch investment platform. Through Chronoly.io, anyone can trade and invest in real-world luxury watches. The platform mints rare NFT watches from some of the popular watchmakers in the business, like Rolex, Patek Philippe, and Audemars Piguet. Each NFT watch is backed by the physical version of the watch stored in one of Chronoly’s secure depositary vaults around the globe. The watch NFT is broken down into fractions enabling anyone to invest in it for a cost as low as USD 10.
A watch backed NFT can tackle a counterfeit risk, which is often encountered in a luxury watch market, where millions are lost each year by collectors who are fraudulently tricked to
purchase unauthentic watches. Each NFT watch minted by Chronoly has metadata that makes it unique and eliminates the risk of counterfeit. This metadata includes the physical watch’s serial numbers, certificate and provenance details. Chronoly.io aims to democratize luxury watch ownership and enable various economic classes to enter into the luxury watch market. CRNO is Chronoly’s utility token that will be used to reward the Chronoly.io community, investors and early adopters, whilst enabling the Chronoly team to raise capital and maintain a robust ecosystem.
Why is Chronoly.io Prospering in the Bear Market?
A stable crypto project can help investors survive the bear market. Chronoly (CRNO) is a unique concept and is backed by a real-world asset.This project lets investors own shares in rare watches minted as NFTs. Watches have always been a good investment and this concept honed in by Chronoly has piqued the interest of crypto enthusiasts worldwide. While Chronoly (CRNO) is in phase one of its presale, it has already gained 500% in a short span of time. Its presale price of USD 0.01 has increased over 200% and is now at USD 0.033 with an estimated gain of more than 500% in presale.
Why is the Market Excited About Chronoly?
The market is interested in Chronoly (CRNO) for several reasons:
- CRNO is a real utility-based token.
- Chronoly minted NFTs are backed by physical, real-world watches
- This platform assures consumers of the authenticity and ownership of luxury watches
- Even during discouraging market conditions, CRNO has gained 560% in value being in its presale phase.
- The CRNO token price is expected to increase to USD 0.50 (from USD 0.01) when its launched on DEX
- CRNO token holders will qualify for discounts like:
- Transaction fees (Up to 30%)
- Storage fees (Up to 30%)
- Watch Concierge Club membership fees (Up to 30%)
- Consumers can start owning a part of the luxury watch for as low as USD 10
- Consumers who acquire 100% of the watch fractions can burn their watch NFTs. Chronoly will ship this watch via their security partners’ shipping service available in 150 countries.
Cosmos (ATOM) And Near Protocol (NEAR) Tumble
While it has been a good year for Chronoly.io (CRNO), cryptos like Cosmos (ATOM) and the Near Protocol (NEAR) have been in a constant whirlwind of highs and lows. Even though Cosmos (ATOM) reached an all-time high of USD 44.45 in January 2022, it has entered and been stuck in a bearish phase since then. The unsuccessful launch of the Evmos chain – a bridge to conduct transactions between Ethereum and Cosmos – in March 2022 due to critical security vulnerabilities caused Cosmos (ATOM) to drop further in value. Cosmos (ATOM) is currently trading down almost 80% from it’s all-time high. Another crypto that has reduced in value is the Near Protocol (NEAR) token that fell to 2.5% in the past 24 hours, reaching its one-month low. Its price levels have plunged to USD 15.4, some crypto experts expect Near Protocol to retest it’s all time highs within the next 18 months.
More Information about the Chronoly presale: