Cryptocurrency investors in decentralised finance were rocked by the collapse in DeFi darling LUNA. The coin lost 98% of its value after the US dollar peg in its UST stablecoin failed. That led to investors pulling their money out and attempts to defend the stablecoin were unsuccessful and LUNA had to go through a complete restart with a new coin. One project that has outperformed the crypto market is Chronoly (CRNO), which registered 660% gains in its token presale. Chronoly (CRNO) allows investors to invest in and buy luxury, rare and exclusive timepieces on a digital marketplace and the difference in trust between these coins will be evident going forward. LUNA was only backed by the faith of investors, while Chronoly (CRNO) is backed by a long-standing investment with inflation-beating potential.
Terra’s LUNA has been rebranded as LUNA 2.0 but even the project’s founder stated previously that the project had lost the ability to become decentralised money. Investors fled the project after problems with the Terra stablecoin and it will be hard to win back institutional investors.
In May of 2022, $55 billion of market cap disappeared from the project causing big losses for some investors and highlighted the insecurity of DeFi investment flows. Investors in the Terra LUNA coin saw its market value fall from over $41 billion to $1.936 billion with tales of financial ruin for some. The project’s founders also faced accusations of fraud and that has hurt many investors’ faith in decentralised finance projects.
The Chronoly (CRNO) project provides a digital marketplace for rare and exclusive timepieces. The project has been audited to boost investors’ trust but the underlying asset is watches from the world’s top watchmakers such as Rolex and Audemars Piguet. Watches as an investment and diversification tool are time tested and the project is really providing a streamlined process for investment in the space by creating a world’s first concept. The Chronoly (CRNO) token can be staked for a passive income for further gains and investors will also get access to prize draws and other exclusive membership benefits.
Chronoly (CRNO) buys the limited-edition investment grade watches, then stores them securely while minting an NFT for each one. This means that investors will be able to fractionally invest in asset-backed NFTs that are backed by luxury watches.
This project will appeal to traditional investors and those who have lost faith in the decentralised finance projects. The recent turmoil in growth stocks has seen investors turn their attention back to physical assets and inflation-beaters. However, last month a Cartier Crash sold for $1.65 million at auction, nearly double the previous auction price. The record sale for a watch is $31 million and investors could have access to that upside when they buy into the pieces on Chronoly.
The native token, CRNO, powers the marketplace and early investors have seen the token move from $0.01 to $0.066 in the presale; the project is currently in a phase two presale before listing on exchanges on the 27th of September. Top analysts are predicting a further 3,500% gain before the presale phase three finishes. Find out more about how to enter the presale and this amazing project below.
Find out more about Chronoly here:
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.
Blockchain gaming remains a crucial Web3 pillar to monitor. Several titles have noted substantial success…
All major companies are under scrutiny in the early phases of 2023. With soaring layoffs…
TORONTO--(BUSINESS WIRE)--Banxa, the world's first listed cryptocurrency payment gateway provider, today announced its integration with…
Deal will Eliminate principal payments and defer amortization to April 2024 with ability to extend…
TORONTO--(BUSINESS WIRE)--$CBIT #Bitcoin--(Block Height: 774,581) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQX: CBTTF) (“Cathedra” or…