The market has been unfortunate towards cryptocurrency enthusiasts in the last few months. Several projects have nosedived, sinking millions of dollars in investments. But this notion cannot be generalized to all the cryptocurrencies trading in the market. Some crypto projects have braved the current bearish market, and some have even posted positive growth. Quantum’s QTUM, Maker’s MKR, and Chronoly’s CRNO are the three tokens that have garnered much attention in recent times.
While QTUM and MKR have been showing signs of recovery, Chronoly has taken the crypto market by storm with its success. Chronoly’s CRNO, in its pre-sale phase, has registered a value increase of a whopping 660%. Let’s dwell deeper to analyze these three crypto projects.
QTUM Seeks Stability In a Tumultuous Market
The Quantum blockchain network has launched QTUM as a cryptocurrency that is a hybrid version of Bitcoin and Ethereum. The Quantum blockchain network combines different parts of Bitcoin and Ethereum to assist and entice application developers, particularly DeFi (Decentralized Finance) app developers. However, QTUM has been undergoing a disappointing phase as its prices have dropped significantly owing to the recent market slump.
QTUM is the native token of the Quantum and can be used by the holders to avail services that the platform offers. But the token does not hold any real-world use, making its usability and value highly susceptible to market sentiments and speculation. Hence, the recent crypto market crash has reduced the overall use of Quantum’s QTUM, causing a steep fall in its prices. The current price of QTUM, the native token of Quantum, is hovering around $2.89, a massive drop of 97.41% from its all-time high of $100.22.
Maker (MKR) Trying To Find Balance
MKR is an Ethereum token that facilitates the ecosystem of the Maker blockchain network. It is described as a utility and governance token. MKR is a smart contract created to maintain the stability of MakerDAO’s DAI token, whose value has been pegged equivalent to a dollar. The unique selling point of MKR is that its holders are allowed to participate in the regulation and governance of DAI directly.
However, Maker (MKR) has been trading in a bearish zone recently. It is because MKR is not linked to any real-world physical asset, and its price relies heavily on the trade volume, which, at present, is hurt badly by negative market sentiments. The current price of MKR is standing at $952.92, which is about 85% below its all-time high value of $6339.02. Besides, the token of Maker, MKR, enjoys the market dominance of a mere 0.19%; hence, its trade volume is also small.
Chronoly Speeds Up Its Bullish Run
Chronoly.io’s CRNO has undoubtedly emerged as the most attractive token at this time when most crypto projects have fallen to the ground. Chronoly’s CRNO token has registered massive gains and has been able to win the trust of investors. Its price has jumped from $0.01 to $0.06 since its launch. Moreover, analysts have predicted CRNO’s price to reach the mark of $0.75 soon. Investors are quite optimistic that CRNO’s value can rise by 2500% before the end of the pre-sale.
Chronoly.io is the world’s first blockchain-based fractional watch marketplace. It allows people to make a fractional investment in the NFTs of rare collectable watches, starting from as little as $10. Chronoly also utilizes a lending protocol for users to loan out their NFTs. CRNO holders can instantly take out loans against the watch NFTs they own.
The working principle of Chronoly.io is also first-of-its-kind. It first buys the physical version of luxury watches, such as Rolex, Patek Phillippe, and Richard Mille, and then mints their NFTs. Since the value of rare collectable watches is likely to appreciate over time, the NFTs minted against them are considered stable and secured for investment despite the prevailing market conditions.
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