This last week in the cryptocurrency market was crazy, investors all over the world have been hearing the one thing they never wanted to hear from their counterparties: we can’t pay you your money at the moment. What a nightmare! In the meantime, a promising technocratic service with sharp ambitions to remake the financial system was sporadically knocked back by these reminders of previous financial calamities. In a period of crisis, there was a week of margin calls, forced selling, and vital collateral being revealed as way too sick and important collateral being exposed as too illiquid. One of the victims is Aave whose users have been selling off in order to join the new and much more promising project Chronoly (CRNO).
Aave (AAVE) needs love but isn’t getting it
The AAVE coin has lost its vital support of $100 and continues to plummet. In a week, the price dropped by 22%. The technical signs point to a further bearish decline. The AAVE/BTC pair is now trading at 0.003227 BTC, down 2.58 %. Aave is a decentralized finance system that enables users to lend and borrow cryptocurrency. Borrowers can use their crypto as security to take out a fast loan utilizing this liquidity and lenders earn interest by depositing digital assets into specially constructed liquidity pools. When compared to competitors in an increasingly saturated market, Aave has numerous distinct advantages but, as for now, the market is either not seeing them or buying.
On the daily chart, the AAVE coin is now experiencing a negative surge. The coin must attract purchasers as quickly as possible, as it is already too late the token has lost its critical support of $100. The bears are in control of the market and investors are hoping for the market to turn around.
Chronoly (CRNO) makes a better case for serious investors
It is fair that investors are weighing their alternatives and searching for more enticing chances in light of the recent volatility in the market and the proliferation of unfavorable news across the board. One of these gems is Chronoly (CRNO), which has been making a splash since its debut on the market at the beginning of May 2022 in its presale stage and will continue to operate in this capacity until the 27th of July.
Chronoly (CRNO) managed to prove how strong its utility and use cases are. Being in a real bear market, the worst since 2020, Chronoly.io still grew over 400% in value within a matter of weeks and some crypto analysts are predicting a further 2,000% gain before the end of presale alone. Chronoly.io is a niche project that is seeking to bring luxury watch investing to the blockchain. Investors can invest in NFTs of rare, luxury and exclusive timepieces from watchmakers such as Rolex and Patek Phillipe. The unique project will allow investors to take fractional stakes in the watches and that will open up the market to new liquidity which was once a drawback of watch investing. The trading exchange will be open at all times and investors can also take their NFTs to third-party marketplaces like Opensea.
This is the first time you haven’t needed $50,000 to purchase a rare luxury watch. Instead you can now buy in for a fraction of the price. Even during a bear market Chronoly has superseded expectation and top crypto analysts are now seeking this to be the next 1,000x crypto investment.
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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