While the crypto world still grapples with the ongoing bear market,Chronoly.io (CRNO), a newly launched project that has nearly sold out in its presale stage, offered a ray of hope to crypto investors.

Chronoly.io (CRNO) Value Increased by 690% in Presale Stage

The Chronoly.io (CRNO) project, launched in May 2022, has nearly sold out in its presale stage. During the same time, the CRNO token price increased from $0.01 to $0.079 due to investor enthusiasm. Chronoly.io (CRNO) is a luxury watch NFT platform, backed by real world timepieces from brands like Rolex, Richard Mille, Patek Philippe, amongst many others. Due to its unique business model, CRNO witnessed a growth of 690% in its presale stage. Chronoly.io (CRNO) is now close to its predicted growth of 5,000%. Top market analysts predict that CRNO can be the next 1000x token.

Chronoly.io (CRNO) enables traders to dabble in the luxury watch space by purchasing a fraction of the luxury watch NFT, for as low as $10. Traders can even purchase 100% of the NFT and redeem the timepiece from Chronoly.io’s (CRNO) secured vaults. Each of these timepieces is passed through stringent quality checks, thus, traders can be assured of the authenticity of the watches. Future plans for Chronoly.io (CRNO) include launching “Chronoverse,” as a rival to the metaverse, and getting CRNO listed on major crypto exchanges.

Bitcoin (BTC) Continues Falling in Value

Bitcoin (BTC) is one of the top performing cryptocurrencies by market cap. However, the 2022 “crypto winter” has not been easy on this coin. Rising inflation, increasing interest rates, and a reduction in market liquidity are the primary reasons for the fall in Bitcoin (BTC) value. After a data report released recently showed that U.S. inflation rose more than expected in August 2022, the crypto market took yet another hit. Traders are expecting the Federal Reserve to continue to tighten financial conditions, which could negatively impact crypto trading conditions in 2022.

Bitcoin (BTC) tumbled more than 50% this year. The two major reasons for this are:

traders selling off their risk-sensitive bitcoin assets (investments that experience a high volatility based on market conditions and are not backed by real world assets), and

crypto lender Celsius freezing customer withdrawals and transfers, thereby sparking rumors of a market fall-out.

The current Bitcoin (BTC) price, $19,260.765, is 70.55% below its all time high of $68,789.63.

Wrapped Bitcoin (WBTC) Fails to Stabilize

Wrapped Bitcoin (WBTC) is an ERC-20 token that was introduced to overcome interoperability issues faced between various blockchain technologies. Wrapped cryptocurrencies allow crypto assets to be used on non-native blockchains. For instance, bitcoin in its wrapped form, i.e. Wrapped Bitcoin (WBTC), can interact with Ethereum’s ecosystem of dApps and smart contracts. Without wrapped bitcoin (WBTC), this process may have encountered several difficulties due to the structural differences between the Ethereum and Bitcoin networks. Wrapped Bitcoin (WBTC) has the same value as 1 BTC. The current price of wrapped bitcoin (WBTC), $19,122.48, is 87.44% below its all-time high of $162,188.26.

Website: https://chronoly.io/

Socials: https://linktr.ee/chronolyio