On the contrary, some asset-backed tokens such as Chronoly.io have appreciated significantly. Some of these unique cryptocurrencies recorded 300% appreciation within the same timeline. What is responsible for the difference in their market performances?
Elrond: Third-Generation Smart Contract Platform Promises Better Scalability
Elrond is a leading third-generation smart contract platform that leverages the power of Adaptive State Sharding technology to boost its performance and promise users more scalability (up to 1,000 times) in comparison with other blockchains.
EGLD is Elrond’s native token and is the second token to be launched on the popular Binance Decentralized Exchange platform.
Through the Sharding technology that splits databases into smaller segments to solve scalability issues, the smart contract platform’s users can look forward to a unique user experience when compared with its competitors.
Despite promising to be a valuable platform, Eldrond’s token has suffered an appreciable dip in value over the past couple of weeks. The Elrond EGLD token, although currently sold for $65.82 per token according to CoinMarketCap was sold for $86.30 on May 31, 2022, and $147.59 almost a month earlier. The non-stop fall is a worrisome experience for its investors.
Tezos: A Futureproof Blockchain Network Offers Advanced Infrastructure Without Hard Fork Scare
Tezos is a unique blockchain network that is designed to offer more advanced infrastructure, a guarantee that it can gradually improve and evolve without investors losing sleep over the risk of a hard fork, a problem beleaguering Ethereum and Bitcoin blockchains.
The Tezos (XTZ) token trades for $1.91 at the time of writing. A quick background check revealed that the Tezos token has been falling freely for the past couple of weeks like its EGLD counterpart.
It would cost an investor $9.18 to acquire the Tezos XTZ token a year ago and $4.12 for the same purpose about 3 months ago. Within a month, the XTZ token depreciated from $2.66 per token to the current rate of $2.11
The Tezos team claimed that the project will “remain state-of-the-art long into the future,” indicating that it can effortlessly adapt to new developments and changes in Blockchain technology.
Chronoly: A Distinct Asset-Based Cryptocurrency Immune to Depreciation
While the majority of tokes are consistently depreciating over the past few weeks, Chronoly, an asset-based cryptocurrency has continued to appreciate as it remains immune to the depreciation ravaging the crypto community.
Chronoly.io is the first fractional watch investment platform built on blockchain technology, allowing users to trade fractions of minted NFTs asset-backed by real physical watches. Holders of the Chronoly token (CRNO) can earn a passive income by staking their tokens, benefit from discounts on the NFT marketplace and every month holders tokens are automatically entered into a free watch lottery.
Investors can buy into fractions of these luxury watches like Rolex, Patek Phillippe and Audermar Piguet or purchase 100% of the NFT fractions and redeem the real watch from the Chronoly vault.
To its credit and the prevailing condition in the cryptocurrency space notwithstanding, CRNO appreciated by 300% during the presale and has continued to appreciate since. Cryptocurrency experts predict that the CRNO token may record up to 2,500% appreciation over the next few weeks, hitting $0.50 from $0.04 per token on or before July 27, 2022.
Why Asset-Backed Tokens like Chronoly are up 300% While Elrond (EGLD) and Tezos (XTZ) Fall
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