There’s a new name on the DeFi block, and it’s already making waves in the crypto space!
In the last few months, Chronoly (CRNO) has gained considerable popularity, reflected in the exceptional performance of its CRNO token, which was recently listed on UniSwap.
But does Chronoly have the power to overtake established projects like Monero (XMR) and eCash (XEC)? Let’s examine the characteristics and performance of all three projects before we decide!
What is Chronoly (CRNO)
Chronoly.io (CRNO) is the world’s first fractional watch investment platform, providing investors with Crypto and NFTs backed by premium timepieces like Patek Philippe, Richard Mille, Rolex, Audemars Piguet, and other brands.
Users of Chronoly can start investing in watches for as little as $10 and gain access to private members’ clubs with benefits like watch-specific concierge services, unique NFT drops, networking opportunities, and more.
The Chronoly ecosystem is powered by the CRNO token, which was launched on UniSwap on 6th October 2022, at the price point of $0.079. Chronoly token holders can now stake their CRNO tokens and earn up to 18.6% per annum in passive income and even enter a monthly watch lottery with a chance to win a Rolex.
The performance of Monero (XMR)
Launched in 2014, Monero (XMR) is a privacy-focused crypto payment network designed to improve upon the untraceability issue with Bitcoin.
In 2017, Monero’s native token, XMR, enjoyed its first major rally after introducing Ring Confidential Transactions (Ring CT) to hide Monero transaction amounts. As a result, the Monero network’s native token, XMR, grew from $14 at the start of 2017 to around $350 by the end of the year — around 23x returns. The Monero (XMR) token even hit its all-time high of $517.62 by 7th May 2021.
However, after this high-riding success, monetary policies were tightened globally in 2022, causing the price of the XMR token to drop to $156.84 by 5th September 2022 and further down to $138.27 by 21st October 2022.
The performance of eCash (XEC)
eCash (XEC) is a cryptocurrency designed for use as electronic cash to pay for goods and services. Originally known as Bitcoin Cash ABC (BCHA), the cryptocurrency was rebranded as eCash (XEC) in 2021.
The earliest price data chart from 2021 indicates a decline in the price of eCash’s native token, XEC, from $0.00002753 on 8th July 2021 to $0.0000173 on 20th July 2022 — a fall of more than 37%.
eCash’s token continued to perform poorly throughout 2022, with the XEC price falling as low as $0.000033 on 18th June 2022. Three months later, on 21st October 2022, the performance of eCash (XEC) still hasn’t increased much, with the token coming in at a conservative price point of $0.000035.
What makes Chronoly (CRNO) a more promising project than Monero (XMR) and eCash (XEC)?
On the price front, while XMR and XEC have been experiencing quite the struggle of late, Chronoly (CRNO) token has been showing much promise! CRNO entered the market at $0.079 and is already expected to surge to $3 and hit as high as $8.
But price is not the only one-up that Chronoly has over Monero and eCash.
The easy affordability of Chronoly’s NFTs and Cryptocurrency opens up investment opportunities for new investors with the prospect of earning considerable returns as the project continues to grow.
In terms of reliability too all Chronoly timepieces are duly authenticated before creating NFTs of them, thereby lending real-world credibility to the ownership of Chronoly NFTs. This allows CRNO and Chronocatz to enjoy relative security of value compared to other Crypto and NFT projects. Being linked to the ever-growing luxury watch market, the value of Chronoly is expected to climb as time goes on.
What more could a crypto investor ask for!
For more information about Chronoly.io
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.