Decentralized finance projects were the worst-performing sector of cryptocurrency after the Terra fallout and the previous market leaders have lost a large part of their assets and value. Fantom (FTM) and Avalanche (AVAX) were two of those projects but there are signs that they are ready for a rebound. Fantom has just updated its blockchain to be faster and more scalable. Avalanche has just seen a whale investor buy up 10 million AVAX coins. However, if investors want decentralized finance elements with real world utility, then they could consider Chronoly.io. The project allows staking and lending in an asset-backed investment option and the coin has gone from $0.01 to $0.05 recently.
Chronoly (CRNO) Offers an Asset-Backed DeFi Option
The Chronoly project also has some elements of decentralized finance with investors able to stake their CRNO tokens for an annual yield. The Chronoly platform is built around a blockchain marketplace for luxury, exclusive watches and the project seeks to revolutionise that investment class. Collateralised lending and fractional investing will bring added liquidity to the market and that will benefit old and new investors.
That is the value proposition that can see Chronoly and its CRNO token outperform even the likes of Fantom and Avalanche. Chronoly (CRNO) has physical assets underpinning its NFTs and that will keep a stable price floor under the market to avoid the kind of volatility we have just seen in DeFi projects. Investors can jump into the second phase of the presale before the rest of the crypto market discovers this project. The token will officially release on the 27th of July and experts predict the price to be between $0.4 and $0.75. Owners of CRNO tokens will automatically enter a monthly giveaway, where they will have the opportunity to win a luxury and rare watch.
Fantom (FTM) Investors Have Been on a Rollercoaster
Investors in Fantom (FTM) have been used to volatility with the coin seeing highs of $3 in early 2021 before tumbling back towards $0.24. The coin then repeated the feat with a new high at $3.30 in January of 2022. The price of Fantom FTM has since tumbled to a price of $0.30. The coin could therefore be a 10x opportunity just to get back to its previous highs.
Fantom has just released an upgrade that will enhance the speed, scalability, and decentralization of the project and that is the holy grail in blockchains. Fantom created blistering growth over the last year with a 3,800% increase in new wallet addresses, while it also increased its total value locked by 11,000% to rank at number seventh in DeFi projects.
Avalanche (AVAX) Boosted by Whale Investor
Avalanche (AVAX) was also hurt in the recent decentralized downturn, but one whale investor has high hopes for the coin with a $224 million investment in the coin. The trader who goes by the nickname of “Scarlet Witch” bought up 10 million AVAX coins.
Avalanche was one of the decentralized market darlings, and its price plunged 83% since November 2021. The only thing that has really changed is that investment flows were pulled due to trouble with stocks and other risk assets, while the Terra situation also worsened the fallout. Avalanche will most likely be one of the DeFi leaders in the next rally and it could rise sevenfold if it were to retest the all-time highs.
For more information about Chronoly.io presale
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