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The recent cryptocurrency downturn has investors scanning the ecosystem for coins with the best potential for future gains. Cardano and Dogecoin (DOGE) investors are now considering the outlook for the two projects, and many agree that newcomer Chronoly (CRNO) is a better near-term option. Chronoly has created an NFT marketplace for classic timepieces from world-class watchmakers such as Rolex and Patek Phillipe. After moving 400% higher in the presale, the coin is ripe for further gains.
Cardano (ADA) Aims to Build on DeFi Credentials
Cardano (ADA) has been one of the top movers after the Bitcoin bottom and saw gains of over 20%. Near-term drivers for the move higher in ADA have included the issuance of native assets on the blockchain. Over five million assets have now been minted on Cardano, according to the latest reports and that will grow developers and money locked on the chain. Another boost for ADA is the upcoming Vasil hard fork, which is expected to increase scaling capabilities. Cardano (ADA) is trying to rebuild its technology in order to appeal to investors of DeFi projects, but DeFi was one of the worst hit sectors in the downturn and confidence has been rattled.
Dogecoin (DOGE) Has Used Up its Hype Premium
Dogecoin (DOGE) was a coin that rallied hard in the meme stock and crypto phase where tweets from Elon Musk was able to drive the price of the project higher. The ultimate meme crypto was a darling of investors but they now see that developments and mass adoption have not been forthcoming. Dogecoin (DOGE) has seen its price drop from almost USD 0.70 to USD 0.07 and the coin’s path to USD 1.00 has faded away. Investors should be wary about putting their faith in projects that are backed by hype and speculation and that is why Chronoly is an enticing option for investors. The meme hype has dried up and investment flows into Dogecoin have done the same.
Chronoly (CRNO) Rockets 400% in Presale
The Chronoly (CRNO) project has created a digital marketplace for NFT sales in the luxury watch market. The project buys the physical version of each limited-edition timepiece and mints an NFT for sale on the blockchain. That will create an efficient digital buying option for investors who like to diversify in classic timepieces. Watches have proven themselves as a great inflation-beating investment over the years and the record sale for a watch is USD 31 million. That creates a double opportunity where the tokens and NFTs can create short-and-long-term gains for investors.
The Chronoly (CRNO) project will see gains driven by their underlying assets rather than hype and investors have snapped up tokens in the presale. Another attractive option for investors is the option to stake CRNO tokens for an annual yield. Analysts are expecting further gains from Chronoly (CRNO) once the project is on the radar of a wide range of investors. The Chronoly (CRNO) project also underwent an audit from Soildproof so investors can be sure that their investment is safe.