9 C
Thursday, September 29, 2022

Why are Investors Loving New Token Chronoly.io (CRNO) Over Binance (BNB), Tron (TRX)



Crypto market prices are driven by the rule of demand and supply. The price of a crypto asset moves up when more investors get interested in buying it. But the opposite happens when more investors start selling their holdings. Based on this simple market principle, it is clear that a new token, Chronoly.io (CRNO), has found more love from investors in 2022 than popular cryptocurrencies like Binance (BNB) and Tron (TRX). The prices of Binance BNB and Tron TRX cryptocurrencies have fallen in the ongoing crypto winter while Chronoly’s CRNO token has bucked the trend, rising around 690% during its sold-out presale phase in the bear season marred by multiple crypto crashes and controversies.


Binance (BNB) bears the brunt of bear market

BNB cryptocurrency powers the Binance ecosystem. It ranks among the top five crypto assets, following Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC). Currently trading at around $294, the Binance cryptocurrency crashed to as low as $197 in June 2022, according to CoinMarketCap data at the time of writing. After touching an all-time high (ATH) of $686 on 10th May 2021, BNB has since struggled to reach anywhere near the ATH. The current price of BNB is down 57% from the ATH.

Binance has also been in the news for several wrong reasons. The exchange has faced legal issues in the US and Europe. It has also been accused of allegedly keeping weak money-laundering checks. Recently, Binance was embroiled in a controversy over the ownership of the Indian crypto exchange, WazirX, which is facing a probe over money-laundering allegations. The Binance exchange is now in the news for booting out USDC in a bid to boost its own stablecoin Binance USD (BUSD).


TRON (TRX) fails to rise

Launched by the Tron Foundation in 2017, Tron blockchain’s in-house token, TRX has failed to rise after touching its ATH at $0.3 on January 5, 2018. TRX is now trading 79% below the ATH. During the recent market crash, the Tron crypto token fell as low as $0.05. It is still trading at just around $0.06. The TRX token is highly dependent on the decentralized application market. If the dApps market fails to move up, Tron cryptocurrency will find it difficult to rise as well.

The Tron blockchain has been developed to provide a platform for Digital entertainment. It aims to make a dent in the market dominated by digital content platforms like YouTube and iTunes. The currently dominant digital content platforms have significant control over developers and content creators. With the support of Blockchain technology, Tron network aims to provide a fast, secure, and censorship-free decentralized data distribution platform. Tron foundation created the TRX cryptocurrency to power the network and incentivize content creators. However, the network’s lofty ambition is still far from becoming true.


Chronoly.io (CRNO) shines 690%

Luxury watch marketplace, Chronoly.io, has quickly emerged as a game-changer in the blockchain and decentralized finance (DeFi) space. Unlike platforms like Binance and Tron, where no real-world asset is responsible for driving the value of cryptocurrencies BNB and TRX, respectively, Chronoly.io (CRNO) is combining the best of both worlds.

Owners of Chronoly’s fractional non-fungible tokens (NFTs) get real and verifiable shared ownership of rare and luxury watches of popular brands like Rolex and Patek Philippe. In the future, users will also be able to showcase their luxury watch ownership in a metaverse that Chronoly is planning to build.

The real-asset factor of Chronoly ecosystem has fired up the price of its utility token, CRNO, in the last few months. Amid heavy demand from investors, the CRNO token price jumped from $0.01 to $0.079 during the sold-out presale phase. In the absence of any competitor, CRNO token is expected to soar higher when it gets listed on central exchanges soon.


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

The post Why are Investors Loving New Token Chronoly.io (CRNO) Over Binance (BNB), Tron (TRX) appeared first on Analytics Insight.

Latest news
Related news
buy levitra buy levitra online