Chronoly.io (CRNO) could outperform DeFi tokens like Curve DAO (CRV) and Aave (AAVE)

The collapse of Terra and its stablecoin TerraUSD Classic (USTC) in May, sent the entire DeFi market into a tailspin. Over the last 3 months, the total value locked in DeFi protocols dropped from over $195 billion to $92 billion. Given that the success of DeFi protocols tend to rely on investors leaving their cash within the protocol, DeFi tokens are widely exposed to market sentiments. This is why asset-backed cryptos like Chronoly.io (CRNO) could vastly outperform DeFi tokens like Curve (CRV) and Aave (AAVE).

Curve Finance (CRV)

Curve Finance is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity. This DeFi protocol was specifically designed around stablecoins liquidity and similar assets that peg to the same value (e.g., wBTC/renBTC). This guarantees steady interest without holding volatile cryptos, ensuring that traders have access to adequate liquidity with low fees and near zero slippages.

Although it was launched in 2020, it has clawed to the top and is currently ranked the third largest DeFi protocol in terms of assets behind Maker DAO and Aave; it has a total value locked of about $7.105 billion.

Curve (CRV) is down about 80% year-to-date, but it’s currently trading about 152% above the 19-month lows of $0.535 reached in mid-June. The recent Curve (CRV) bullish rally is primarily because Curve Finance announced that it would launch its own stablecoin. For now, whether or not Curve’s (CRV) bullish trend persists depends on the success of the anticipated stablecoin.

Aave (AAVE)

Aave is currently ranked the second largest DeFi protocol with a total value locked of over $9.3 billion. It is a multichain DeFi protocol that allows users to earn interest on their deposits, borrow assets, and build applications. Typically, lenders create liquidity pools and earn interest, while borrowers use their crypto assets as collateral to get loans from the liquidity pools. Users can access uncollateralized flash loans for ultra-short duration.

Given the improved crypto market sentiment, Aave (AAVE) has recovered about 88% from its June lows of $45.60. But despite this impressive recovery, it’s still down 67% from 2022 highs of $261.20. AAVE’s exchange reserves have been steadily falling, indicating lower selling pressure, which means massive upside potential for AAVE. If AAVE breaks above the 100-day MA, the bullish target is around 2.618 Fibonacci extension (around $137). But on the downside, a drop below the 50-day MA could push AAVE to July lows of $52.

Chronoly.io (CRNO)

Chronoly.io successfully completed the first phase of the CRNO presale, with the second presale phase ending on July 27, 2020. The third presale is scheduled to end on September 27, 2022, and you can buy Chronoly.io (CRNO) worth $100 – $250,000 in a single transaction during the presale. Note that when you buy CRNO tokens on presale, you automatically qualify for Chronoly.io’s exclusive members club.

And since counterfeiting is a huge problem in the luxury watch market, Chronoly.io (CRNO) uses third-party experts to authenticate every watch before NFTs are minted. More so, these watches are stored in Chronoly.io’s vaults, and the asset-backed NFTs are fully insured.

Chronoly.io (CRNO) is basically the first mover in the asset-backed NFT marketplace, making it a goldmine for early investors. In the current second phase of the presale, CRNO is already up 560% from the $0.01 phase one presale.

It’s taking advantage of the untapped $18 billion pre-owned secondary watch market by creating the world’s first fractional watch investment blockchain platform. It’s built on Ethereum and allows anyone to invest and trade fractional NFTs backed by real-world investment-grade collectable watches from famous brands like Rolex, Patek Phillippe, Richard Mille, etc., from as low as $10.

For more information about Chronoly.io presale

Website: https://chronoly.io/
Telegram: https://linktr.ee/chronolyio
Presale: https://presale.chronoly.io/register
Twitter: https://twitter.com/Chronolyio

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