Chronoly.io presale sells out quickly while Bitcoin (BTC) and Ethereum (ETH) post modest gains from DailyCoin

© Reuters Chronoly.io The pre-sale is quickly selling out while Bitcoin (BTC) and Ethereum (ETH) post modest gains

While veteran cryptocurrencies like (BTC) and (ETH) are struggling in the red, asset-backed token Chronoly (CRNO) has emerged as a dark horse through its pre-sale. As of mid-May, the price of this real-world utility token has skyrocketed by a whopping 560%, indicating increased interest from the investor community as the overall crypto market displayed a downtrend.

Low Investor Confidence in Bitcoin (BTC) and Ethereum (ETH) The months of April and June 2022 marked a long and painful downtrend for the crypto market, as king coin Bitcoin (BTC) and leading altcoin Ethereum (ETH) chased some scary lows. For the past 6 months, Bitcoin (BTC) has traded a far cry from its all-time high of $68,000 in November 2021, currently close to $24,000. Key stakeholders holding between 100 and 10,000 BTC have reportedly diluted about 2.26% of their stake in this veteran currency.

Similarly, Ethereum (ETH), another well-established cryptocurrency, is currently trading at prices near $1,800, a far cry from its all-time high of nearly $4,800 in November 2021. These downtrends are a result of widespread uncertainty fueled by economic and Political factors like Ukraine war, US inflation trends, possibility of recession etc. The risk of price volatility is very high for these veteran cryptos as they have low intrinsic value. As a result, their prices are very sensitive to external environment factors.

On the other hand, the emerging asset-backed tokens have some real, intrinsic value and utility that drives their prices higher even during times of external turmoil in the crypto market. One such token is Chronoly’s CRNO token, which represents the world’s first blockchain-based marketplace for partial watch investments. The price jump of a whopping 560% in the presale shows that investors are very interested and excited about the rise of this platform.

Why Are Investors Excited About Chronolys (CRNO) Token? Chronoly is the world’s premier luxury watch investing marketplace, offering investors the opportunity to fractionally buy, sell or trade rare and collectible timepieces from popular brands such as Rolex, Patek Philippe, Richard Mille and Audemars Piguet. The platform allows users to invest in watch NFTs for as little as $10. These NFTs are backed by real, physical watches that are insured and stored in Chronolys secure vaults worldwide.

Watch NFTs offered by Chronoly.io can be used as proof of authenticity and ownership, as collateral for lending, trading on the secondary market, as digital collectibles in the Metaverse or in the Chronoly.io ecosystem. Once an NFT is 100% owned, it can also be redeemed for physical watches from the Chronoly Vault.

The Chronoly.io ecosystem is supported and sustained by its native CRNO token. The token offers its holders multiple benefits such as staking opportunities, reward pool in the form of monthly lotteries, as well as up to 30% exclusive user discounts on transaction fees, storage fees, and Watch Concierge Club membership fees, among other benefits.

The CRNO token price started at $0.01 and is currently in its third pre-sale phase up a whopping 560% to $0.066. The token has received immense enthusiasm and recognition from experts for its unique idea and multiple use cases. The asset backing feature adds intrinsic value to the token and makes it reliable in the current, volatile market conditions, making Chronoly the undeniable choice of young investors.

Learn more about Chronoly.io by visiting the official website, Telegram, or Twitter (NYSE:). Find out more about the presale by clicking here.

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