New Utility Token Chronoly (CRNO) Has Everything To Surpass Binance Coin (BNB)

The cryptocurrency market has not been kind to the Binance exchange and its BNB token of late. The exchange was reeling from an investigation by the SEC that threatened to lock the project in a Ripple-style court battle over the token’s security status. Then a week ago, Binance froze BTC withdrawals amid the market’s liquidity issues. These types of events have shaken investors’ faith in crypto projects and it will slow the uptrend recovery. A new coin on the block is Chronoly (CRNO), which offers different forms of utility and can provide investors with security in bearish trends. The project is creating a marketplace for NFTs of rare, luxury and exclusive watch assets.

Binance Coin (BNB) Can Recover but Crypto Volumes May Slow

Binance Coin (BNB) is still holding strong at number 5 in the list of coins by market cap with a $37.1bn valuation. That represents a coin price of $227 but is a far cry from the highs of over $650 registered previously. As the market was dragged lower by BTC some projects were hit with their own specific problems and Binance seemed to have quite a few of their own. Reuters wrote an article that accused Binance of money laundering on its platform. The project refuted that claim but it aroused investor suspicion. The second event was an SEC investigation into whether the Binance token (BNB) should be classed as a security. That could drag the coin into the same lawsuit struggle that Ripple has gone through. Finally, last week the platform froze BTC withdrawals for a number of hours due to the market volatility and that also damaged investor confidence. The recovery in BNB could be slow and we will need to see trading volumes increased on the platform in the months ahead.

Chronoly (CRNO) Readies a Trust-Based Asset

Chronoly (CRNO) has the chance to pick up the baton from some of the better-known projects on the issue of trust that have been fastly falling in value. Asset-backed crypto in the world of luxury watches can provide security for investors and reduce volatility from speculative money. Chronoly will be easier to value for traditional investors due to the assets that it holds. NFTs will be minted for those assets and the pricing on the open market for rare watches will determine the value of each piece. Investors can consult the historical investing values of each watch before they buy and have faith that it will adhere to historical trends also that the NFT purchased into is backed by the real watch.

Investors taking a fractional share in a luxury timepiece are then exposed to the same share of the underlying watch. They can trade in and out of different watch stakes, but also redeem all the NFTs and claim the physical piece by placing a 100% buyout offer. Analysts have predicted Chronoly will rise a further 2,000% during the presale phase giving a massive boost for investors during such a bear market. Our pick of the week for top crypto investment goes to Chronoly.

Website: https://chronoly.io/

Telegram: https://t.me/Chronolyio