CryptoPunks falling through the floor

For the first time since May 2022, the price of CryptoPunks has dipped below $100,000. The floor price is determined by market demand and the cost of the least expensive item in the collection.

At the time of this writing, The Block's Data Dashboard stated that Larva Labs' NFT collection had a floor price of 47 ETH ($91,673). Since April 25, when the collection's floor price was $186,442, it has fallen by more than 50 percent. According to NFT trading volumes for the week ending May 9, $8.28 million was traded, compared to $7.45 million the week prior. A total of $2.75 million has been traded this week.

Throughout May, NFT floor prices have declined in step with the price of cryptocurrencies. Because of the collapse of Terra's ecosystem in May, prices for bitcoin (BTC) and ether (ETH) have fallen below $30,000 and $2,000, respectively, in the digital asset arena. It remains to be seen if the CryptoPunks can rise again. There is no reason why it shouldn’t but we’ll just have to wait and see.

Chronoly (CRNO) is generating excitement

Chronoly (CRNO) is really a world first. Few, if any, of the cryptocurrency tokens currently on the market can claim to be linked to valuable, real assets. In the case of Chronoly, those assets take the form of classic, investment grade watches from makers such as Rolex and Patek Philippe. These watches are, of course, astronomically expensive and the trend has been for them to grow in value as the years have gone by.

Chronoly’s ingenious strategy is to enable the CRNO token users to own a fraction of these treasures for sums as modest as $10. The actual, physical watches are authenticated, insured, and secured safely in a vault while they are represented as NFTs. These watch NFTs are then subdivided into fractional NFTs which are available to investors on the Chronoly.io marketplace. They can then trade those NFTs at any time of the night or day on Chronoly’s secondary market or in open marketplaces like Opensea. Moreover, CRNO holders get other benefits such as discounts on trading fees and the possibility of passive income from staking their tokens on the Chronoly marketplace.

This explains why, even in the grizzliest bear market conditions imaginable, Chronoly (CRNO) has enjoyed a 400% increase in value since it opened for pre-sale in early May at a price of $0.01. It is now trading at $0.05 and canny analysts are predicting a price of $0.50 (50x) by the time the presale stage ends on 27th of July.

More information on Chronoly.io presale here:


Website: https://chronoly.io/

Socials: https://linktr.ee/chronolyio