Stellar XLM’s worth lags behind whereas Chronoly.io golden run continues – TechCabal

The last few months have been nightmarish for cryptocurrency markets as investors went on a selling-spree amid global uncertainties due to the Russia-Ukraine war and growing recession fears across multiple countries, including the developed ones like the US and Germany. The global crypto market capitalization fell below $1 trillion and several top cryptocurrencies lost big percentages of their market value. Even the Stellar (XLM) token fell massively and it continues to lag till date while the overall crypto market has shown remarkable recovery in July.

Interestingly, Chronoly.io (CRNO), a new token, which is still in presale, has kept the investors interested during the same time when global crypto markets witnessed one of the worst times in their history. In terms of performance, XLM and CRNO tokens have had contrasting stories till now. In this article, we will take a look at how both these tokens have performed and what the future holds for them.

What happened to Stellar (XLM)

Stellar network’s native digital currency XLM’s price is down more than 86% from its all-time high of $0.87 recorded on 3rd of January 2018. Ranked currently 27th on CoinMarketCap, XLM is trading at around $0.12. While several top cryptocurrencies like Ethereum, Bitcoin, Solana witnessed sharp price appreciation in July, the performance of XLM token has been anything but lackluster. It is up only 8% in the last 30 days. In the last 14 days, XLM has gone up by around 10% while its price compared to 1 year back is down 57%, according to CoinGecko data.

An open source, distributed and community owned network to facilitate cross-asset transfers, Stellar’s cryptocurrency has failed to attract investors in large numbers and is still very far from coming back on the bullish track. With low trade volumes, XLM continues to have a bearish outlook while its market capitalization has shrunk to $3 billion.

According to Stellar network’s Q2 2022 report, there have been several improvements in terms of scalability, demand and participation. With the launch of Project Jump Canon, Stellar is set to provide a robust execution environment for smart contracts. However, despite several exciting announcements, XLM continues to face macroeconomic headwinds due to factors such as rising inflation, interest rate hikes and liquidity shortages in global markets.

Golden run for Chronoly.io

Defying the dominant negative market trend, Chronoly.io utility token, CRNO, is on a golden run. Currently, in the third phase of presale, CRNO token’s price is already up 560%. CRNO tokens were initially launched at a very small price of $0.01. However, growing demand and interest of investors has pushed the price to $0.66 in the current presale, which will end in the next 6 days.

Chronoly.io is a blockchain-based luxury watch marketplace that allows users to own a fraction of high-end watch collectables for as little as $10. The platform achieves this by minting NFTs backed by real physical watches and offering fractions of the non-fungible tokens on sale to users. The platform allows users to trade their NFT fractions 24/7 on Chronoly’s secondary market or on an Ethereum based third party NFT markets such as OpenSea.

Chronoly.io is not just another get rich quick crypto scheme. Rather, the platform has a long term vision to evolve into an ecosystem consisting of the marketplace, lending protocol, members club and the metaverse.

Further, CRNO tokens can be traded on crypto exchanges in the near future. Token owners who hold the CRNO token can also make a passive income by staking CRNO tokens in the Chronoly lending pool for 7 days to 12 months. The staked tokens are used to provide liquidity to the lending protocol and a percentage of the fees generated is passed to stakers.

With the platform’s plan to list the token on centralized exchanges in future, CRNO token’s price is set to rise further in the coming months.

For more information about Chronoly.io presale

site: https://chronoly.io/

Telegram: https://t.me/Chronolyio

Presale: https://presale.chronoly.io/register

Twitter: https://twitter.com/Chronolyio

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