The battle of Ripple XRP vs. SEC has no end in sight
In December 2020, the SEC sued Ripple Labs, the company behind Ripple, claiming that the sale of Ripple XRP was an unregistered securities offering. Not willing to give up, Ripple Labs has fought with the SEC ever since.
After an extensive back-and-forth battle, the outcome is still undecided. With the potential for Ripple XRP trading to be halted in some exchanges again, like Coinbase did when the lawsuit was announced, some investors are cutting their losses with the cryptocurrency as the future remains very uncertain for Ripple XRP.
While just this week, the SEC lost a battle to remove 67,000 XRP holders from petitioning the courts, some are wondering if XRP will ever reach the highs of $1.96 it saw back in April 2021 again. Now, crypto enthusiasts are looking to new projects, like Chronoly.io, for a more promising place to put their money.
While Solana has undergone the same fall-from-grace as Ripple XRP, other questions over the project’s long-term viability are being raised. Extended downtime is plaguing the network, with seven outages in recent months, more than any other mainstream project in the proof-of-stake ecosystem. This significant downtime is hurting investor confidence substantially.
Other issues raised, like lower-than-promised transactions per second and centralization of the network’s validators, are also cause for concern. Some say that a 51% attack due to this centralization may be more likely than with other top cryptocurrencies.
With the release of a Solana-based Android phone costing $1000, analysts have started to wonder if this is just a cash grab before prices decline further for the Solana project. At the time of writing the price of Solana’s native token (SOL) is $38.89
CRNO: a project with tremendous growth potential
Chronoly.io is the world’s first decentralized luxury watch trading platform built on the Ethereum blockchain. It allows users to buy, sell and authenticate luxury watches from brands such as Rolex, Patek Philippe and Richard Mille, this is achieved through the clever application of NFTs and blockchain technology.
Chronoly.io is in the early stages of its development and investor awareness, so it has the potential to have its own Solana and Ripple style pumps. Chronoly.io offers more than just hype through the watch NFTs on the marketplace are backed by the physical version of the watch which is stored in a vault.
Currently, the platform’s token CRNO is in phase 3 of presale, already seeing popularity amongst crypto whales. Prices have rocketed from $0.01 to $0.066 in just under two months as of the 4th of August, a whopping 560% increase.
Its compelling real-world use case is drawing investors in from around the globe; no longer do you need to speculate on silly drawings of monkeys. These rare watches are held in secure vaults, and guess what? They aren’t making more of them. This limited supply drives prices higher as demand increases.
Analysts are now expecting CRNO to hit prices of $0.5-0.75 before its formal release date to public platforms on September 27th. This would amount to a potential 1,000% increase in value over the next two months. It’s no surprise then that some are buying up the Cronoly.io CRNO tokens rapidly and selling their more controversial tokens.
For more information about Chronoly.io presale