The crypto market has been quite volatile lately, owing to its early age, speculation by investors, and limited use cases. The price of cryptocurrencies can fall or rise quickly depending on investor sentiment and news events. Despite their volatility, cryptocurrencies offer opportunities for investors interested in high risk high reward investments. Many believe that cryptocurrencies will become more stable over time as they gain wider acceptance and as new use cases emerge. But, in a time like this, investors are looking for more reliable options in the crypto market.
Avalanche, (AVAX) token looked like a promising option to investors, but has seen a price plunge. Chronoly (CRNO) on the other hand, has got the hopes up for investors in the crypto market. Though the CRNO token is still in its presale, it has seen gains of over 400% by going from $0.01 to $0.05 in the last three weeks alone.
Let’s dig a little deeper to get a fair idea of the journeys of these tokens – AVAX and CRNO.
What is Avalanche Crypto?
Ava Labs released the Avalanche platform and AVAX coin in 2020. Avalanche is a proof-of-stake smart-contract platform. It claims to be a secure cryptocurrency platform, compatible to support assets, apps, and tools with faster speeds, higher throughput orders, and lower fees. This could potentially serve to be a formidable competitor for Ethereum. Furthermore, anyone can develop their coin using the Avalanche platform. Developers can create a one-of-a-kind virtual computer and specify the exact parameters under which the blockchain should function.
Investors are interested in Avalanche AVAX because its contributions are aimed at improving the efficiency of smart contracts, which forms the foundation of all blockchain-based enterprise applications. The project’s offerings and vision promise to significantly alter how dApps are launched and blockchain transactions are processed.
Though Avalanche has immense potential and its native token AVAX is going to be the choice of traders in the near future, the token price currently stands at $16.78, approximately 88% less than its all-time high of $146.22 recorded in November 2021. This goes to show that even AVAX is not safe from the volatile crypto market. This is making investors look for other viable alternatives such as Chronoly CRNO.
Why Is Chronoly gaining popularity among investors?
CRNO, Chronoly’s native token, is a fractional watch investment platform on blockchain that allows users to invest in collectible watches for as little as $10. The CRNO token is currently in the second stage of its presale and has many industry experts excited about the projects unique use case and growth potential.
The Chronoly (CRNO) project recently saw the sale of 100 million of its CRNO tokens during its first pre-sale. The token price has seen a 400% growth from $0.01 to $0.05 in the last three weeks and its growth is only likely to increase further. What separates CRNO from other tokens is an opportunity for investors to invest in real-world luxury timepieces. These pieces from the world’s most prominent brands, such as Rolex and Patek Philippe, have proven investment returns. Due to inflation and geopolitical events, investors have been flocking to safe-haven investments.
The project works by minting NFTs of watches, which are then purchased and stored in a safe depository. This allows investors to purchase a percentage of the items without having to transport or store them. The decentralized platform also allows for ownership proof and speedy trading. Since the Chronoly NFTs are backed by tangible assets, investors have found a factor of reliability embedded in these tokens.
The CRNO token is in the second stage of its presale and the price currently stands at $0.05. Chronoly is likely to experience exponential growth as the project welcomes long-term investors and crypto enthusiasts, who view this as an opportunity to invest in the luxury watch industry, which is regarded as a stable market, unlike other algorithm-based virtual coins like AVAX that are subject to market volatility.
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