The space of decentralized finance (DeFi) is diversifying as more people jump into the bandwagon. Content creators, artists, and developers are having a field day and working to change the narrative even during the current bear market. Despite a difficult time like this, emerging tokens like Chronoly.io (CRNO), Dogecoin (DOGE) and Elrond (EGLD) have dominated the market and are predicted to be around for a long time. These tokens have an experienced developmental team that’s working round the clock to sustain the tempo. Upon launch, they enjoyed massive media attention and attracted both retail and institutional investors.
Now let’s find out how these tokens fare in the current crypto market and why Chronoly.io is up 560% in its presale.
Chronoly.io (CRNO) has an edge over Dogecoin (DOGE) And Elrond (EGLD)
Dogecoin (DOGE) and Elrond (EGLD) are DeFi projects with a bearish outlook for some weeks now. However, Chronoly.io has continually experienced price appreciation despite the crypto wave that plummeted the prices of most cryptocurrencies. Chronoly (CRNO) has a lending protocol that you can leverage to invest in the multi-billion dollar luxury watch market. Using watch NFTs as collateral, you can borrow money at competitive interest rates while retaining ownership over the underlying watch. The lending protocol is built on top of the Ethereum blockchain; as such, it offers transparency, maximum security, and trust for all involved.
Since inception, the team at Chronoly.io (CRNO) has not left any stone unturned in its drive to revolutionize the luxury watch market. At its core, Chronoly.io is an NFT project with CRNO as its native token. The project offers users real-world value for their time and investment. While Chronoly.io (CRNO) is still in its presale, the project whitepaper suggests that the project has tremendous potential. Chronoly.io has rallied over 560% because it brings a unique approach to how people can invest in fractional watches. The NFTs are backed by luxury watches that are stored in the Chronoly vault.
Chronoly’s (CRNO) roadmap shows that a lot of activities are lined up during the phase three of the project, including building strategic partnerships, expanding influencer outreach, and integrating with metaverse projects.
Dogecoin (DOGE) is unlikely to recover in the coming days
If things remain as it is today, experts fear that Dogecoin (DOGE) may find it difficult to recover even in the coming days. Dogecoin (DOGE) was the first meme coin to create a dog token community. Since its inception and after Elon Musk posted about it in his verified social media platforms, investors and traders started moving in droves to invest in the project. Elon’s endorsement gave Dogecoin (DOGE) a boost, which immediately saw its price surged to an all-time high.
Dogecoin’s (DOGE) creators jokingly created the project to belittle the earliest blockchain, Bitcoin (BTC). However, instead of being a joke, it received massive media attention and also gained widespread adoption. Unlike other blockchains, there are no deflationary controls on the Dogecoin (DOGE) blockchain. Dogecoin (DOGE) maintains an endless supply of DOGE in its treasury. As of the time of writing this post, Dogecoin (DOGE) trades at $0.07109 USD with a 24-hour trading volume of $257,926,480 USD.
Why the crypto communities are dropping Elrond (EGLD)
In today’s volatile global crypto market, it can be overwhelming and tricky to find a performing token to invest in. The price point of Elrond (EGLD) has continually experienced a decline in the last few months, causing token holders to dump the project and switch to tokens that offer real-world value. Elrond’s (EGLD) developmental team understands this narrative and that’s why they are working round the clock to correct the downward trend. Experts believe that if Elrond (EGLD) continues to be bearish, the price of EGLG may nosedive further to around the $20 mark.
Elrond (EGLD) is a software-based project that’s geared towards incentivizing distributed networks of computers to enable them to run smart contract platforms. At its core, Elrond (EGLD) prioritizes low transaction fees and improved scalability so that users can enjoy value for their money. Elrond (EGLD) stormed the crypto market in 2020 with a promise to revolutionize the fintech space, as well as scalable application platforms.
In November 2021, the price of Elrond (EGLD) was at its all-time high, but as the crypto wave bedeviled the market, the token price declined more than 86.93%. At time of writing, Elrond (EGLD) trades for $68.94 USD with a 24-hour trading volume of $47,504,810 USD.
For more information about Chronoly.io presale
Website: https://chronoly.io/
Telegram: https://t.me/Chronolyio
Presale: https://presale.chronoly.io/register
Twitter: https://twitter.com/Chronolyio
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