Lawsuit Against Ripple Pushes Investors Away From XRP While Market Crowns Chronoly As New Giant
Ripple (XRP) and Chronoly (CRNO) are two cryptocurrencies that have been in the news, but for different reasons. Ripple (XRP) has been in the news for negative reasons, such as the SEC’s lawsuit against the project and the falling price of its XRP token, while Chronoly (CRNO) has been making headlines for posting historical growth figures. Chronoly launched its CRNO tokens on the UniSwap exchange after ending its pre-sale phase with a record high. The pre-sale ended after all its CRNO tokens were subscribed before launch and appreciated in price by 690%.
Investors Losing Confidence in Ripple (XRP)
The ongoing SEC lawsuit against Ripple (XRP) has caused tremendous strain on the token’s price making it highly volatile in recent times. Ripple (XRP) has posted some massive gains on the price chart in the last month, but the uncertainty caused by the lawsuit has been making it hard for the token to ditch the price resistance of $0.50. Although Ripple (XRP) has grown by around 50% in the past month, its current trading price is still around $0.50, which is more than 86% below its all-time high (ATH) of $3.84. This stagnation, along with the uncertainty related to the lawsuit, has prompted investors to keep away from Ripple (XRP) for the time being.
Ripple (XRP) is a blockchain platform that aims to facilitate cross-border and cross-platform transactions for various cryptos and fiat currencies to simplify payments.
How Did Chronoly Become the New Big Thing In Crypto World
After ending its pre-sale round at the top of the growth chart, Chronoly (CRNO) has now gone public by entering the trading market. Notably, the price of Chronoly rose by 690% during its pre-sale phase after all CRNO tokens were sold out before launch. Chronoly’s CRNO hit the crypto exchange with the price tag of $0.079, growing by many multiples from a starting price of $0.01. Chronoly listed its CRNO tokens on the UniSwap exchange on October 6.
Chronoly.io (CRNO) is an Ethereum-powered decentralized marketplace enabling individual investors to invest fractionally in rare watches of high-end brands. Chronoly.io purchases luxury watches directly from these brands, mints their NFTs, and stores them in secured vaults. These NFTs can also represent fractional ownership of the watches allowing people to invest from as low as $10. Since Chronoly’s NFTs are backed by physical watches, the price of CRNO corresponds to these physical assets, which have continuously risen in the past.
In addition to trading NFTs, CRNO holders can also stake their tokens in the lending pool to generate a passive income. CRNO holders also receive discounts on transaction fees on the platform. Chronoly (CRNO) developers have also announced plans to draw a watch lottery every month, where the winner will receive a Rolex. Participation in the watch lottery does not entail any additional fee.
Chronoly (CRNO), since its launch in May 2022, has stirred the crypto market with its success. Crypto experts stress that Chronoly’s CRNO token can rise to $3 as it is now being traded on the UniSwap exchange. They also claim that the price of CRNO could reach as high as $8.
For more information about Chronoly.io
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