The price of Ethereum has been rocked in the cryptocurrency bear market with the coin trading near the $1,000 level once again. These prices have not been seen since 2020 and have damaged many portfolios in the process. The Ethereum project was hurt by the recent delays to its Merge update to version 2.0 of the blockchain which a lot of Ethereum holders were excited about.
That was meant to solve long-standing issues with congestion, fees and transaction speeds to supercharge the price of Ethereum. It’s possible that the project now provides value as long as the upgrade is a success but that is a complicated risk for investors. A more interesting investment option may be Chronoly (CRNO). The project is bringing an appreciating asset-backed option to the crypto market with an NFT marketplace for luxury watch investing. This unique project could revolutionise the market for rare timepieces.
Ethereum (ETH) – Where is the merge heading now?
Ethereum (ETH) is awaiting its long-awaited Merge date and it is expected to start this summer. At the recent ETH Shanghai Web 3.0 Summit last week, Ethereum’s co-founder Vitalik Buterin announced that it will be completed by the third quarter of 2022. The development will transition Ethereum from a Proof of Work consensus to a Proof of Stake. “If there are no problems, then the merge will happen in August,” said Buterin. If the move to version 2.0 of Ethereum is successful then a speedy recovery from recent lows could quickly happen. Still, ultimately there are nerves amongst investors as they have to wait two months with a potential of further delays possible.
Chronoly (CRNO) Is flying high during a bear market
Chronoly (CRNO) is the world’s first 24/7 watch investment platform. Unlike a stablecoin like Terra’s UST, Chronoly NFT’s are backed against the real world asset. Which happens to be a historically, highly appreciating, sought after asset. Chronology allows investors to purchase fractions in rare, exclusive and luxury watch backed NFT’s from as little as $10.
Investors have gotten excited about this project leading to a 500% rally already during presale. The phase two sale is now ongoing, but the project is at the early stages of its potential and there is still time to be an early adopter of this unique project. Chronoly mints NFTs for the watches that it holds in storage and is creating a decentralised marketplace for trading in a previously slow market. In this time of turmoil in risk assets, the potential to diversify into the rare timepiece market is more important than ever and Chronoly (CRNO) will bring that to the masses with fractional ownership of watches. Top crypto analysts are predicting that a further 2,000% gain is likely before the end of the presale phase alongside this have made predictions that Chronoly will become a unicorn company in 2023 representing a valuation in excess of $1 billion. Crypto predictor David Wallenbach who has been right on his last 5 major calls, predicts that Chronoly is the next 1,000x crypto. It’s for these reasons that our pick of the month for best investment in June goes to Chronoly.
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