Cryptocurrency markets made a comeback in July after witnessing weeks of slump. Even as the US declared the highest inflation in 40 years and the economic recession fears became more pronounced, several cryptocurrencies pushed higher. According to the Crypto Fear & Greed Index, the overall market sentiment moved from “extreme fear” to “fear” as buyers returned to the market to make the most of low priced crypto tokens. Interestingly, Ethereum-powered altcoins like TRON (TRX) and Decentraland (MANA) demonstrated remarkable resilience as they ended the month with double digit gains. The future outlook for these tokens remains positive as bulls are likely to move the crypto markets up in the coming weeks.
In this article, we will take a look at Tron (TRX), Decentraland (MANA) and a new token Chronoly.io (CRNO) which jumped 560% last month and is still in its presale.
The Tron TRX token price has increased around 10% in July, gaining more than 5% in the last 7 days itself, according to CoinGecko data at the time of writing. TRX is currently trading at $0.07
A decentralized operating system based on blockchain, TRON smart contract platform aims to advance the decentralization of the internet and its infrastructure. Tron TRX has jumped 3,822% from its all-time low of $0.0018 recorded on 12 November 2017.
Despite getting hit by negative market performance in 2022, the Tron TRX token is up 14.7% as compared to its price at the same time last year. Though it is hard to predict the price of a crypto token, analysts are optimistic about TRON and it is expected to end the year on a new high.
Decentraland (MANA) token price has jumped 23% in the last 14 days. It has surged more than 10,000% from its all-time low of $0.0092 recorded on 31 October 2017, according to CoinGecko data at the time of writing. Trading currently at over $1, Dectraland MANA is an interesting token set to benefit from the future metaverse boom.
Decentraland offers a virtual reality platform where users can purchase plots of land that they can build upon and monetize in the future.
Decentraland has been one of the leading players in the metaverse space. It is projected, by 2030, the metaverse market size will be worth around $1.6 trillion. Decentraland’s MANA token is therefore poised to gain a big share in the metaverse of the future.
Chronoly.io is an exciting new entrant in the cryptosphere. Currently in its third presale stage, the CRNO token price is already up more than 560% in the last few months. Of the 300 million CRNO tokens available in the presale, only 30 million are left to purchase in phase 3. It was initially offered at a price of $0.01, which has now gone up to $0.066, in just two months.
The Chronoly project packs some interesting features that are generally missing in many popular cryptocurrencies. Based on Ethereum blockchain, CRNO is the in-house token of Chronoly, which is the world’s first 24/7 watch investment platform that enables anyone to make fractional investment in rare luxury watch collectables. Chronoly.io creates NFTs that are backed by the real version of the watches, which is then broken down into fractions to enable users to own a stake in a Rolex watch for as little as $10.
The physical version of the watch is held in a secure vault and if a user holds 100% of the NFTs they have the option to redeem the watch. Many industry experts are predicting the price of CRNO tokens to surge by 50x in the next coming weeks when the presale window closes and the CRNO token launches on UniSwap.
Cryptos look set to enter a new growth phase after a number of bad players have been weeded out in the recent market crashes. Coins or tokens that have some real-world use cases, or are backed by physical assets are now more likely to attract new buyers. In such a scenario, all the three tokens discussed above – Tron TRX, Decentraland MANA and Chronoly.io CRNO – are likely to quickly gain the interest and trust of crypto investors looking for high-growth digital assets.
For more information about Chronoly.io Presale
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