Chronoly.io's CRNO and Cardano's ADA are two such cryptos that have lately emerged as stable and growing investment projects. Cardano has been in the crypto arena for a longer time, but its resistance to recent bearish market trends and potential to make a strong recovery has caught people's attention again. On the other hand, Chronoly.io is a new entrant whose success has thrilled analysts and experts in the field. Chronoly's CRNO token has grown by over 600% during its pre-sale.
Chronoly.io has taken the crypto world by storm due to its massive success during the pre-sale phase. Chronoly's CRNO is a utility token backed by real-world assets, which is virtually absent from a majority of the long-standing cryptocurrencies.
Chronoly.io is the world's first blockchain-based fractional marketplace that enables people to gain partial ownership of rare luxury watches. The project has come up with a transparent business process, where they purchase rare collectable watches from high-end multinational brands like Rolex, Patek Philippe, Richard Mille, Audemars Piguet, and others, and mint NFTs against them. It means that all the NFTs minted by Chronoly are backed by physical watches that the company has purchased and stored in secured vaults.
It allows people to invest as little as $10. People can also buy 100% of any timepiece NFT and redeem it for the physical possession of that watch.
Given that all the NFTs minted by Chronoly.io are backed by real-world assets and have tangible utility, investors have rushed to put their money into the project. It is because the prices of other cryptocurrencies rely primarily on market speculation, while CRNO's price is determined by rare collectable watches' value that is bound to appreciate over time.
Notably, CRNO's price has jumped from $0.01 to $0.06 during its pre-sale, and it is expected to reach $0.75 in the near future. Meanwhile, experts have pegged it to grow by 2,500% before the end of the pre-sale.
Cardano is also one of those few crypto projects expected to maintain a positive run despite the harsh market conditions. Cardano has emerged as a frontrunner in the DeFi (Decentralized Financing) industry, leaving behind big names such as Solana and Ethereum.
Cardano users were already able to loan out ADA, Cardano's native token, to anyone willing to use their NFT assets as collateral via smart contracts. However, a range of new releases, updates, and Ledger's recent support to expand ADA's use cases has pumped the favourable ecosystem of Cardano.
NFT-backed loans are not new, but Cardano developers have worked to make the project more robust and easily accessible to everyone via the NFT-DeFi bridge. It has developed new applications to increase ADA's usability. As per the Twitter account of the Cardano (ADA) community, Cardano's on-chain transactions reached 44.8 million in June, a 5.44% increase from May.
This has drawn investors' attention towards Cardano, which is currently trading around $0.45 but is expected to go as high as $3 by 2023.
More information on the Chronoly.io presale here: