The Chrono.tech (TIME) token rose 11% on Thursday on closing a US$30 million funding round led by venture capitalist Mark Carnegie, the blockchain software company said in a tweet.
The Australia-based company plans to use the funds to develop and expand its services for the HR and crypto-payment sectors.
The TIME token was priced at US$313.84, up 11.00%, at 12:09 pm ET on Thursday.
What is Chrono.tech?
Chrono.tech is a blockchain software company. It provides blockchain-based solutions for the HR, recruitment, and payment processes.
TIME is the native token of the Chrono.tech ecosystem used for staking on TimeWarp.finance and securing premium account status.
The TIME token was upgraded to ERC677 standard in November 2020 to integrate it with other DeFi protocols, enabling lower-cost transactions while making it ERC20 compatible.
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The company’s products and blockchain ecosystem focus on solving global recruitment and employment markets problems.
Its freelance work portal LaborX.com is popular among freelancers. Customers can execute digital agreements powered by smart contracts on the platform. Payments are made in cryptocurrency. Its TimeX.io is a hybrid Plasma-based cryptocurrency exchange that offers both centralized and decentralized technology benefits.
Timewarp.finance is a DeFi yield farming application of the Chrono ecosystem for staking TIME tokens. Its multi-currency crypto payroll solution enables individuals and businesses to integrate crypto payments into the daily invoice processes. Another solution, TimeBridge.org, is a multi-blockchain token bridge to support multiple blockchains and transfer TIME tokens between different networks.
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Performance
The token has a market capitalization of US$222,471,028. Of the 1,372 TIME token holders, the top 100 holds 97.96% of the total holdings.
Its trading volume surged 235.84% to US$2,912,836 in the last 24 hours to Thursday evening. Its circulating supply is 710,112, the maximum supply is 710,112, and the total supply is 710,113.
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The token touched an all-time high of US$569.25 on January 11, 2022, and an all-time low of US$0.379332 on March 13, 2020. The token is available for trading on PancakeSwap (V2), QuickSwap, Uniswap (V2), KuCoin, and HitBTC.
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Bottomline
The crypto market is down 2.81% in the last 24 hours to 1:13 pm ET on Thursday. While most digital assets were down, the TIME token rose today. Investors, however, should carefully evaluate the market before investing in digital assets.
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