Cardano and Ethereum Are on the Floor but Chronoly (CRNO) Kept Growing
Ethereum (ETH) and Cardano (ADA) saw the value of their portfolios crater in the recent market downturn as fear set into the market.
There were specific issues for each coin, also as Ethereum delayed its long-awaited project upgrade, and Cardano’s pivot to DeFi investors was badly timed. Both coins will likely bounce now but their returns will find it hard to match those of Chronoly (CRNO) which rallied 500% during the current bearish phase.
Chronoly is a blockchain project that is seeking to leverage trusted investment in luxury watches. Investors can buy fractional stakes in real assets, which are minted as NFTs. The luxury watch market has continued to outshine others this year and Chronoly is set for bigger things.
Cardano (ADA) welcomed DeFi before the collapse
Cardano (ADA) had just rebuilt its blockchain almost from scratch to introduce smart contracts and improve other areas. The project then made it clear that it was targeting the DeFi industry with solutions. That was a bad time because the DeFi market collapsed with the Terra project problems.
Cardano will still be valuable in the future and the rebuild will benefit the project but the progress may be slow in trying to attract funds to the chain. ADA can still reward investors but the timeline is unsure after the recent crash.
Ethereum (ETH) left a sour taste with upgrade lag
Ethereum (ETH) left investors with a sour taste after the delay of an important upgrade. The so-called Merge was expected to be completed and help ETH to defend against the many competitors that want to steal its crown as the top platform for DeFi and NFTs.
With the bearish sentiment, the coin was dragged lower and with the forced liquidations from the Three Arrows hedge fund, Ethereum dropped below $950 at one stage.
The project’s founder has said that August will be the date for the upgrade to be completed and we could see ETH rally into that date. That would likely mean a return to $3,000 or so.
Chronoly (CRNO) will outperform the two
Chronoly (CRNO) can outperform both coins due to its early-stage investment potential and niche product. Chronoly will mint NFTs of rare watches that it holds in secure vaults worldwide. Chronoly is the first of its kind with its unique asset-backed concept.
The project’s trading platform will offer snapshots of pricing and trends where investors can set price alerts and limit orders 24/7.
These developments will revolutionize the space for a trusted investment product which will especially appeal to wealthy investors who have experience in both the watch and blockchain worlds.
Investors have other benefits in Chronoly with early buyers getting access to the Chronoly Wealth Club with monthly prize draws for watches and USDT. The platform has a staking and lending facility and a chance to collateralize NFTs.
Both of those can provide passive income while investors wait for the project to mature. When it does, the upside will have likely outperformed that of ETH and ADA. Chronoly has the first-mover advantage and crypto analysts are predicting a further 2,500% gain before the presale concludes on September 27.
For more information about Chronoly presale:
The post Cardano and Ethereum Are on the Floor but Chronoly (CRNO) Kept Growing appeared first on BeInCrypto.
