Real-world utility tokens have gained traction in recent times. The biggest reason behind their rise is that they have proven themselves more resilient to bearish market trends than other cryptos. That said, putting every real-world utility token in the same basket would be wrong. Many real-world utility tokens have performed differently. For instance, Chiliz (CHZ) and Chronoly (CRNO) are both real-world utility tokens, but their performance graphs tell different stories. While Chiliz (CHZ) has been dwindling, Chronoly (CRNO) has been growing at lightning speed since its launch. On October 6, Chronoly launched its CRNO tokens on the UniSwap exchange at the price of $0.079 recording a growth of 690%.
Chiliz (CHZ) Needs To Find Consistency To Play In The Arena
Chiliz (CHZ) has been on a roller coaster ride for the past many weeks. The overall price movement of Chiliz (CHZ) indicates volatility and inconsistency in the project’s performance. The price of Chiliz (CHZ) has dropped by around 10% in the last week. Currently, the trading price of Chiliz (CHZ) is $0.21.
Chiliz (CHZ) is a blockchain-based network that allows sports fans to have real-world engagement with their favorite teams and clubs. The ecosystem of Chiliz is fueled by its native crypto, CHZ. On the Chiliz network, CHZ can be used to purchase Fan Tokens on Socios.com. It enables CHZ holders to participate in the decision-making process of their favorite teams and clubs. Though Chiliz (CHZ) has some real-world utility, its price is largely influenced by market sentiments and speculations due to it not being backed by a physical asset.
The Market Share Of Chronoly (CRNO) Increases Exponentially
Chronoly.io has witnessed a gigantic rise on the price chart. The exceptional rise in the price of Chronoly’s CRNO tokens is due to the massive success of the project’s pre-sale phase, which started in May 2022. All the tokens were sold out pre-sale, resulting in a whopping price increase of 690%. The price of Chronoly’s CRNO tokens at launch was $0.079 with some experts expecting the price to reach $3 in the next few weeks.
Chronoly.io is a decentralized marketplace for people who want to make investments in luxury watches. Chronoly (CRNO) mints NFTs of rare watches to enable retail investors to partially own the luxury timepieces. Chronoly (CRNO) procures physical luxury watches from companies in the real world and mints their NFTs. These NFTs are broken into fractions, allowing users to purchase the watch NFTs for as low as $10.
Chronoly also stores the procured watches in secured vaults to provide backing to its CRNO tokens. This backing from real-world assets makes Chronoly inherently stable and profitable. As mentioned in the project’s whitepaper, the luxury watch market is projected to reach $51.31 billion by 2027. With this type of growth on the horizon for the watch market the price of CRNO will surely rise as well.
Chronoly users can also utilize the platform’s lending protocol by staking their CRNO tokens in the lenders’ pool or taking loans against their NFTs at competitive rates. They can earn up to 18.6% per annum by staking CRNO tokens. Chronoly (CRNO) users can also participate in the platform’s monthly watch lottery, where the winner gets a physical Rolex timepiece. Participation in the monthly watch lottery is free. Going by the current trend, experts believe that the value of CRNO is expected to rise sharply in the next few months. Analysts are confident that CRNO tokens will go up as high as $8.
For more information about Chronoly.io
Website: https://chronoly.io/
Telegram: https://linktr.ee/chronolyio
Twitter: https://twitter.com/Chronolyio
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