Inflation, tightening liquidity, and the Terra-LUNA collapse pulling down the entire crypto ecosystem are some of the top reasons for 2022 being one of the worst bear markets in history.
While top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) were caught in a whirlwind of highs and lows, there were some relatively newer cryptos, like Chronoly (CRNO) that thrived during this phase.
This article will help you understand potentially safe investment options during this bearish phase, through cryptocurrencies like Monero (XMR), Atom (ATOM) and Chronoly.io (CRNO) which has jumped 560% in the last two months.
Monero (XMR) Encourages Fungibility
Launched in 2014, Monero (XMR) is an open-source, digital token, catering to an anonymous transacting feature with robust privacy. Monero makes transactions untraceable, hiding the trader’s identity along with the transaction amount (i.e.Fungibility). Thus, Monero is considered to be superior to Bitcoin by many crypto enthusiasts.
At the time of writing this article, Monero’s (XMR) price was $161.51. Monero (XMR) is currently in the top 30 of major crypto exchanges. Many market analysts believe the XMR price will exceed $500 with a market cap of more than $9.1 billion in the next 3-4 years.
Atom (ATOM) is Bullish in the Long-Term
Atom (ATOM) is a cryptocurrency token based on the Cosmos blockchain, an optimized and decentralized ecosystem known as a ‘network of networks.’ Cosmos creates independent blockchains (known as ‘zones’) that connect to the main blockchain – the Cosmos Hub. Cosmos Hub monitors and maintains a record of the state of each zone. The zones also maintain a record of the hub. ATOM serves as the native cryptocurrency of the Cosmos Hub. Transaction validators across the network are decided based on the amount of ATOM each validator pledges to the operation of the entire network.
From the initial price of $0.10 per token, ATOMs gains increased more than 46,500%, reaching a high of $46.68 in September 2021. ATOM’s current price is $26.40 and is bullish in the long run with its price predicted to increase to $120 in the next 5 years.
Chronoly.io (CRNO)- The World’s First Decentralized Watch NFT Platform
Launched during the bear market in 2022, Chronoly’s unique concept captured investor attention. Claimed to be the world’s first watch NFT platform, Chronoly.io provides investors with NFTs backed by luxury timepieces from exclusive brands like Rolex, Richard Mille, amongst many others. Investors can invest in a fraction of the watch NFT for prices starting as low as $10, or buy the entire NFT. This NFT can then be used to redeem the physical watch from the Chronoly.io depository vault. Chronoly breaks the barriers needed to enter the luxury watch market and allows investors to fractionally own luxury watches, which they can sell in secondary ethereum compatible marketplaces.
CRNO, the native token of the Chronoly.io platform, was received with so much enthusiasm that it demonstrated a price increase of 560% during its presale stage. Currently, CRNO price has increased from $0.01 to $0.066 due to a high demand! Top market analysts expect this cryptocurrency to further increase by 2,500%-5,000% before the end of its third presale stage in September. Chronoly could very well be the next 1,000x token and hence is predicted to be a good investment strategy.
For more information about Chronoly.io presale