Cryptocurrency markets have performed poorly in 2022. Hit by regulatory uncertainties, global inflation, fears of economic recession, and to top it all, a war in Europe, the majority of crypto assets have witnessed massive falls this year. There has been a worrying decline in the price of some crypto assets like Celo (CELO) and Internet Computer (ICP), which hogged the limelight in 2021. Interestingly, a new crypto token, Chronoly.io (CRNO), has beaten the market trend while continuing to rise in the recently concluded presale, which was sold out. Here’s a look at how tokens like Celo (CELO), and Internet Computer (ICP) have performed, and how Chronoly.io (CRNO) is staking its claim for the crypto crown.
CELO fails to recover
Launched in April 2020 with a mission to increase crypto adoption among smartphone users, Celo blockchain ecosystem’s native token, CELO, has been failing to attract investors this year. While most of the top cryptocurrencies took massive hits during the crypto market crash in June 2022, the price of CELO token has been falling since the start of the year.
According to data on CoinMarketCap at the time of writing, CELO was trading at around $5 in the beginning of January 2022. It fell to as low as $2.4 in March but recovered briefly to $4.8 by 4th of April 2022. However, Celo started falling again, dropping to $0.8 by June 2022. Even in September, Celo (CELO) is still trading around $0.8, down over 92% from its all-time high.
With an aim of bridging the gap between cryptocurrencies and smartphones, the Celo network enables users to transact in crypto assets by using their phone numbers as public keys. The network also aims to harness the benefits of Decentralized Finance (DeFi) for creation of smart contracts and decentralized applications (dApps).
Internet Computer crashes to new low
The price of Interest Computer (ICP) has followed a similar trajectory as Celo (CELO) this year. In the first week of January 2022, Internet Computer (ICP) token was trading in the range of $25-$30, touching a high of $36 on 9th January. However, ICP has failed to breach this price mark till now.
According to CoinmarketCap data at the time of writing, Internet Computer’s ICP token fell to $7 in May, and further to $5.1 in June 2022. The ICP token is currently trading over $6, down 99% from its all-time high of $750 on May 10, 2021.
Launched in May 2021, Internet Computer (ICP) is also a decentralized blockchain network enabling smart contract development on a large scale.
The Internet Computer (ICP) network aims to push the boundaries of Internet functionality by providing endless scalability and a high-level of security. The network’s ICP token was an instant hit but quickly lost the momentum.
Chronoly.io (CRNO) wows investors
Braving the crypto market storm of 2022, Chronoly.io (CRNO) has emerged as a market champion by topping the growth charts. CRNO had an outstanding pre-sale success, attracting investors who have been let down by dramatic change in fortunes of other crypto tokens.
Investors have grabbed all the CRNO tokens offered during the presale of Chronoly.io (CRNO) marketplace. As a result of the high demand, CRNO tokens’ price surged 690% taking it from an initial price of $0.01 to $0.079, by the end of the presale.
Unlike Celo (CELO) and Internet Computer (ICP), Chronoly.io (CRNO) is a rapidly emerging blockchain-based project, offering some unique value propositions that are resonating well with investors, leading to a surge in the price of its utility token, CRNO.
Chronoly.io (CRNO) is the world’s first Etehreum blockchain-based online marketplace that allows users to own and trade luxury watches through non-fungible tokens (NFTs). The platform offers fractional NFTs, backed by real watches that are stored in secured vaults. Users can own these NFTs for as little as $10. The backing of real assets protects Chronoly.io (CRNO) price from crashing during a market downturn. Analysts believe that CRNO’s price would appreciate faster after its public launch, which is expected to happen soon.
For more information about Chronoly.io Pre-sale
Website: https://chronoly.io/
Socials: https://linktr.ee/chronolyio
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