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The crypto ecosystem entered its bearish phase in May 2022 with well-known cryptocurrencies like Bitcoin, Cosmos (ATOM) and Near Protocol (NEAR) facing market weight. While traders often view a bear market as a time to withdraw their money from investments, this market can also be used to one’s advantage.
To potentially successfully emerge from a bearish phase, traders are advised to diversify their portfolios, believe in long-term investments, invest in unique use cases, and stick around until the very end of that phase. . The 2022 bear market has seen the launch of unique new cryptos with various use cases. Chronoly.io is one of those crypto that has reserved 560% gaineven in his pre-sale phase!
What is Chronoly.io (CRNO)?
Chronoly.io (CRNO) is the the world’s first NFT-based watch investment platform. Through Chronoly.io, anyone can trade and invest in real-world luxury watches. The platform manufactures rare NFT watches from some of the popular watchmakers in the industry, such as Rolex, Patek Philippe and Audemars Piguet. Every NFT Watch is supported by the physical version of the watch stored in one of Chronoly’s secure vaults worldwide. The NFT Watch is broken down into fractions allowing anyone to invest in it for as low as $10.
A watch-backed NFT can combat a risk of counterfeiting, often encountered in the luxury watch market, where millions are lost every year by collectors fraudulently deceived for
buy non-authentic watches. Each NFT watch minted by Chronoly has metadata that makes it unique and eliminates the risk of counterfeiting. This metadata includes the serial numbers, certificate and provenance details of the physical watch. Chronoly.io intended to democratize the ownership of luxury watches and allow different economic classes to enter the luxury watch market. CRNO is Chronoly’s utility token that will be used to reward the Chronoly.io community, investors and early adopters, while allowing the Chronoly team to raise capital and maintain a robust ecosystem.
Why is Chronoly.io thriving in the bear market?
A stable crypto project can help investors survive the bear market. Chronoly (CRNO) is a unique concept and is based on a real-world asset. This project allows investors to hold shares in rare watches minted as NFTs. Watches have always been a good investment and this concept refined by Chronoly has attracted the interest of crypto enthusiasts around the world. While Chronoly (CRNO) is in the first phase of its pre-sale, it has already gained 500% in a short time. Its pre-sale price of $0.01 has increased over 200% and now sits at $0.033 with an estimated gain of over 500% in presale.
Why is the market excited about Chronoly?
The market is interested in Chronoly (CRNO) for several reasons:
- CRNO is a true utility-based token.
- Chronoly minted NFTs are backed by real-world physical watches
- This platform guarantees consumers the authenticity and ownership of luxury watches
- Even in discouraging market conditions, CRNO won 560% in value being in its pre-sale phase.
- The price of the CRNO token should change to $0.50 (from $0.01) when launched on DEX
- CRNO Token Holders will benefit from discounts such as:
- Transaction fees (up to 30%)
- Storage costs (up to 30%)
- Watch Concierge Club membership fee (up to 30%)
- Consumers can start owning part of the luxury watch for as little as $10
- Consumers who acquire 100% of watch fractions can burn their watch’s NFTs. Chronoly will ship this watch via its security partners shipping service available to 150 countries.
Cosmos (ATOM) and Quasi-Protocol (NEAR) Tumble
While it’s been a good year for Chronoly.io (CRNO), cryptos like Cosmos (ATOM) and Near Protocol (NEAR) have been in a constant whirlwind of ups and downs. Even though Cosmos (ATOM) hit an all-time high of $44.45 in January 2022, it entered and has been stuck in a bearish phase ever since. The unsuccessful launch of the Evmos chain – a bridge for transacting between Ethereum and Cosmos – in March 2022 due to critical security vulnerabilities caused the value of Cosmos (ATOM) to plummet even further. Cosmos (ATOM) is currently trading down nearly 80% from its all-time high. Another crypto that has lost value is the Near Protocol (NEAR) token which has fallen 2.5% in the last 24 hours, reaching its lowest level in a month. Its price levels dipped to $15.4, with some crypto experts expecting Near Protocol to retest its all-time highs in the next 18 months.
More information on the Chronoly presale: