In today’s extra-volatile market conditions, it can be difficult to find a cryptocurrency that is performing well. The prices of Elrond (EGLD) and Algorand (ALGO) have been declining in the last few months, and the crypto community is looking to invest in value-based alternatives such as Chronoly (CRNO). Although CRNO is only in the first stage of its presale, it has been doing exceptionally well even in the current market conditions.
Let’s dive deep into the details of all three projects to understand why the crypto community is choosing Chronoly over Elrond and Algorand.
What is Elrond?
Elrond is a software that incentivizes a distributed network of computers to run a smart contract platform, prioritizing scalability and low transaction fees. Elrond entered the blockchain and cryptocurrency space in 2020, and investors have since been seeking to buy EGLD tokens with the belief that the market will favor scalable application platforms.
What is Algorand?
The Algorand network is a blockchain-based platform that uses its own pure proof-of-stake (PPoS) consensus algorithm. With PPoS, users can reach consensus and validate transactions according to the proportion of ALGO crypto coins they own. Algorand (ALGO) entered the crypto space in 2019. Investors use ALGO tokens to earn a return on investment for participating in the network’s governance.
What is Chronoly?
Chronoly (CRNO) is the first blockchain-based fractional watch investment platform in the world. By staking as little as $10, customers may purchase, trade, and invest in rare luxury timepieces from international brands like Rolex, Patek Phillippe, Richard Mille, and Audemars Piguet. Unlike Elrond (EGLD) and Algorand (ALGO), the Chronoly (CRNO) token is backed by genuine, tangible assets — premium timepieces that have been authenticated and validated from the get-go. Since the authenticity of the assets is not an issue, and collectible watches will only keep appreciating in value, investors are showing a lot of interest in Chronoly’s project and its CRNO token.
Could the crypto community start dropping Elrond (EGLD) and Algorand (ALGO) for Chronoly (CRNO). Here’s Why:
The crypto market has been quite volatile Lately:
The Elrond (EGLD) price was at its peak in November 2021, but it has been declining since then. Now, the price of EGLD is 86.93% below its peak value. Similarly, the Algorand (ALGO) price is on the decline and has been 88.78% below its peak value since November 2021.
Investors seek more stable crypto projects like Chronoly CRNO):
Chronoly.io is a marketplace that is revolutionizing and disrupting the collectible watch market. Chronoly NFTs are backed by real-world luxury watches, which form a rapidly growing industry. The current global watch market is valued at $64bn, with the secondary watch market value hitting $18bn and these figures are expected to grow significantly. Storing value with luxury watches has many advantages, from protecting against inflation to hedging risks in a bear market. Holding Chronoly’s NFTs allows anyone across the world to protect their wealth digitally and securely.
Chronoly (CRNO) has an edge over Elrond (EGLD) and Algorand (ALGO):
Elrond (EGLD) and Algorand (ALGO) transactions are based on the proof-of-stake consensus, which may not be as well-tested as proof-of-work. There may be security vulnerabilities that investors fear the most. Additionally, for ALGO, there is less liquidity on exchanges at this time compared to other cryptocurrencies. Chronoly, on the other hand, has a lending protocol that enables users to leverage billions of dollars invested in luxury watches. Using their watch NFTs as collateral, Chronoly NFT holders can borrow at competitive rates while retaining ownership over their fraction of the underlying watch. The protocol is built on the blockchain, providing security, transparency, and trust for all involved. It also allows users to borrow against multiple watches, providing them with liquidity when they need it the most.
Chronoly (CRNO) is a unique project in the crypto space that ties the digital world with real-world tangible assets. With features such as fractional ownership, Chronoly has democratized luxury watch ownership and lowered the barriers to entry for crypto and timepiece enthusiasts. The luxury watch investment, which has long been reserved only for the wealthy, can now be an investment opportunity for any individual. Chronoly (CRNO) makes it possible for users to diversify their portfolios by purchasing fractions of different watches instead of allocating 100% of their capital to a single watch. With this compelling ecosystem and unique value proposition, Chronoly is set to be one of the top growing crypto assets in 2022, and investors are eager to take advantage of this opportunity.
For more information on Chronoly presale: