The recent cryptocurrency downturn has hit many investors hard and as Bitcoin (BTC) appears to be finding a bottom near the $30,000 mark, many want to know where the value lies in the market.
Chronoly (CRNO) is an asset-backed digital currency option that allows investors to buy stakes in real-world assets. The Chronoly (CRNO) project saw triple-digit gains in the last week and their community is growing extremely fast.
Stellar Lumens (XLM ) was another gainer on news of a partnership with the global payments processing firm MoneyGram, which will bring new users from the world of cash remittance to the blockchain. Finally, Tron (TRX) has seen interest from whale investors recently and is seeing new investors scrambling to its own stablecoin USDD in order to capitalize on a 30% APR for staking.
Stellar (XLM) Gains Support from MoneyGram Tie-Up
Stellar Lumens has moved higher in the last week with gains of 14%. The project is seeing investor interest from the announcement of a new partnership with payments giant MoneyGram. According to a report from Bloomberg, MoneyGram is set to tie up with payments blockchain Stellar (XLM) in a project that will allow customers to send and receive stablecoins via the XLM blockchain.
Denelle Dixon, CEO of Stellar Developments said:
“There are billions of cash-dependent people globally who could benefit from the utility that digital assets and blockchain provide… What we’re building through this partnership is a service for helping them go from cash to digital assets.”
Investors have an opportunity to ride the wave of adoption in XLM with new crypto users likely being born from this deal. In the current climate, coins that have stood the test of time are seeing growth and new developments. Asset-backed cryptos are also seeing investor interest.
Tron (TRX) Sees TVL Growth and Whale Interest
The Tron Network has seen growth of 45% in its total value locked (TVL) over the past 30-days, according to Wu Blockchain data. TVL is the amount of money staked on a platform and is an important metric in DeFi projects.
The latest increase may be linked to the launch of the network’s native stablecoin USDD, which allows users to earn a 30% annual percentage yield (APY) if they stake on JustLend platform. Troubles in the Terra stablecoin have seen investors looking elsewhere for opportunities and Tron (TRX) has been a beneficiary.
(Tron) TRX was the best gainer of the month amongst the legacy coins and data from Whale Alert showed large investors had added over $293 million worth of Tron (TRX) tokens. Around 3.56 billion Tron (TRX) have been moved from the Binance exchange to wallets and included two large transactions of over $76 million.
Chronoly (CRNO) Provides Asset-Backed Options
Chronoly (CRNO) has outpaced both XLM and TRX with gains of over 400% in the last week alone. The project has recently sold 100 million coins in a pre-sale and is getting set for stage two of the release. Chronoly (CRNO) is a unique project that provides asset-backed crypto through the ability to buy and sell stakes in rare and exclusive watches from world-class brands such as Rolex, Patek Philippe and Audemars Piguet.
New investment opportunities are created by the minting of NFTs, which are backed by the timepieces being fully insured and stored in depositary vaults. Many investors have suffered in the latest cryptocurrency downturn and will see this project as having real-world assets that can back up the project.
The previous hot sectors of the market were in NFTs and decentralized finance (DeFi) but these projects have suffered after the Terra stablecoin issues and a drop in sales volumes and values of NFTs. The troubles at projects such as Terra were driven by trust issues, where investors pull their deposits and there is no longer confidence that a stablecoin can be backed 1:1 versus the US dollar. By providing fractional investments in real physical assets, investors know exactly what underpins the CRNO token by looking at an inventory list.
Chronoly (CRNO) will appeal to traditional investors who like to diversify in assets such as watches and art. Furthermore, CRNO will allow them to do this without the requirement for their own safe deposits. To conclude, the process is fully digital and hosted on the blockchain which provides proof of ownership.
Website: https://chronoly.io/
Telegram: https://t.me/Chronolyio
Twitter: https://twitter.com/Chronolyio
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