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The global cryptocurrency market has been witnessing a churn in 2022. While bad players are getting exposed and falling out in the race for the crypto crown, interesting new platforms with solid fundamentals backed by real-world assets are attracting investors. In this context, decentralized finance and Ethereum-based NFT watch marketplace Chronoly.io (CRNO) is an exciting new entrant in the crypto market. Chronoly.io (CRNO) has amassed massive support from investors during the nearly sold-out presale phase. In this article, let's have a look at whether Chronoly.io (CRNO) can rival popular projects like Enjoin (ENJ) and Theta Network (Theta).
Enjin Coin (ENJ) is still struggling to get out of the bearish zone trap since the start of the crypto market fall in May this year. According to CoinGecko data, at the time of writing, ENJ coin is down 75% from its price a year ago. Enjin has fallen over 89% from the all-time high of $4.89 on November 25, 2021.
Currently trading at around $0.5, Enjin coin has so far failed to regain growth momentum after the recent market fall. Built on Ethereum, Enjin provides an ecosystem of interconnected blockchain-based gaming products. On Enjin's social gaming platform, users can create websites, clans, virtual item stores, and also chat with each other.
Theta Network's native coin, Theta, has fallen sharply in recent months. Theta is currently trading at around $1.15, which is 93% below the all-time high on 16 April 2021, according to Coingecko data at the time of writing. Theta is a blockchain-based platform built with an aim to decentralize video streaming services. The network's goal is to provide a better video streaming experience to users at lower costs. However, market trade data suggests it is struggling to attract crypto investors. In the last 30 days, Theta's price has fallen over 17%.
With popular non-blockchain-based video streaming services like Netflix, Amazon Prime, and Disney occupying the major share of this niche market, Theta is up against strong competition. With uncertainties around crypto regulations, it is an uphill task for Theta creators to regain the growth trajectory.
With the luxury watch market projected to grow by 2,500-5,000% in the coming years, Chronoly.io (CRNO) has gained traction among investors looking for the next crypto gem. This is reflected in the massive sale and price jump of Chronoly.io (CRNO) platform's utility token CRNO. The project has nearly sold out in its presale phase during which CRNO's price appreciated by nearly 690%. It was initially launched for $0.01. By the end of the third presale phase, Chronoly.io (CRNO) sold at a price of $0.079.
Chronoly.io (CRNO) is a blockchain-based watch marketplace that allows users to own a share of expensive rare and luxury watches through fractional Non-Fungible Tokens (NFTs) for as little as $10. At a time when many of the legacy crypto coins and tokens have taken massive falls, growing investor interest in Chronoly.io (CRNO) platform and the CRNO token tells a lot about the bright future of this project, which is soon going to be listed on various exchanges.
While Enjin (ENJ) and Theta (THETA) have been popular blockchain projects, their utility tokens drive value from the demand and supply in the open crypto market. Thus, ENJ and THETA have plunged sharply amid overall market decline. Wary crypto investors hit by recession fears and high inflation are now looking for long-term projects that can drive value beyond the market play. This is where Chronoly.io (CRNO) appears to be placed better than ENJ and THETA tokens. Each NFT offered by the Chronoly.io (CRNO) marketplace is backed by a real watch. In the rapidly evolving world of cryptos and NFTs, there are very few tokens backed by real-world assets. This single specialty of Chronoly.io (CRNO) also makes it stand apart from the race.
Website: https://chronoly.io/
Telegram: https://t.me/Chronolyio
Presale: https://presale.chronoly.io/register
Twitter: https://twitter.com/Chronolyio
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
