Can Chronoly.io Rival Solana (SOL) And Fantom (FTM) For The Defi Thrown?
Amid a global market downturn in the last few weeks, the race to the cryptocurrency crown has opened up. Prices of almost all leading coins have fallen sharply as investors are keeping away from risky assets. However, projects backed by real-world assets and with sound fundamentals are expected to emerge on the top when markets normalise and start generating wealth for investors. In this context, Chronoly.io (CRNO) token is an exciting new entrant.
Chronoly token has already become popular in its presale phase and is up 400%. Lets have a look at how CRNO can rival Solana (SOL) and Fantom (FTM), the coins of two very popular Decentralised Finance (Defi) enabling blockchain platforms.
Solana continues to struggle with bugs
SOL is the native coin of the Solana blockchain ecosystem, which is home to several Defi projects. It is ranked among the top 10 cryptocurrencies but very far from its glory days in terms of price.
The price of SOL has fallen to $30, down 88% from its all-time high of $260 achieved in November 2021. In the last 30 days, SOL price has plunged by over 45 per cent, according to CoinGecko.
One can argue the SOL price fall is a mere reflection of the overall downturn in the crypto markets. However, there is also another factor that is pulling Solana down.
The Solana ecosystem remains prone to bugs. It has been shut down for several hours in the last two years. In fact, at the beginning of this month, the Solana blockchain was down for four hours, causing the SOL price to plunge.
Fantom (FTM) is falling
FTM is the native token of Fantom, a scalable blockchain project, which is very popular with DeFI users. However, it has demonstrated extreme volatility in the crypto market downturn.
Fantom price is down by around 33% in the last 30 days, trading at $0.24 at the time of writing, according to CoinGecko. Fantom had hit an all-time high of $3.46 in October 2021. The price of the Fantom token has plunged by nearly 93% since then.
The cryptocurrency markets remain in the extreme fear zone due to heightened inflation, interest rate hikes by leading countries, and economic recession fears. Under such circumstances, it is unlikely that the price of a coin like FTM will start going up soon.
Chronoly.io keeps investors excited
While the major cryptocurrencies are currently bleeding, CRNO, the token of Ethereum blockchain-based fractional watch investment marketplace Chronoly.io, has managed to keep investors excited.
Chronoly allows users to make on-chain fractional investments in luxury watches. The platform offers investors the opportunity to buy fractions of watch NFTs, backed by real luxury watches, at a starting price of as little as $10.
Currently, in the second phase of presale, the CRNO price has already appreciated by 400% to $0.05 from the introductory price of $0.01. Over 2.7 million CRNO tokens out of the total 175 million marked for the second phase of presale have been sold.
The total supply of CRNO tokens is 1 billion, of which 30% will be sold during the presale. Next, it will be listed on decentralised exchanges like UniSwap and PancakeSwap.
What is keeping the investors excited about the CRNO token is the rapidly growing luxury watch markets. Currently, the global watch market is valued at $49 billion and is expected to grow significantly by 2025. Even the pre-owned watch market has become one of the fastest-growing segments and is expected to reach $29-$32 billion by 2025.
With Chronolys unique value proposition and real-world asset backing, CRNO is poised to grow and remain stable even if the cryptocurrency markets continue to churn.
More information on the Chronoly presale here:
Website: https://chronoly.io/
Presale: https://presale.chronoly.io/register
Telegram: https://t.me/Chronolyio
Twitter: https://twitter.com/Chronolyio
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