VeChain (VET) and Chronoly.io are among the much-talked projects in the last few months. While VeChain (VET) has made headlines due to its bounce back from the downfall, Chronoly (CRNO) has stolen all the limelight, owing to its presale success. Chronoly’s presale has been so successful that the value of its CRNO token has soared by more than 560%.
Like most other altcoins, VeChain crypto has been in a continuous downtrend since the start of the year. Nevertheless, crypto markets have been experiencing the first significant relief rally since June as the BTC price stabilizes above $22,000. VeChain (VET) is breaking out from a consolidating phase in the same series. The revival process started after the price bounced at $0.0215 recently.
In recent months, VeChain VET has been showing signs of recovery and breaking out of a consolidation period. It has also increased the use cases for the VeChain blockchain in improving the global supply chain. Several leading international brands, including DB Schenker, Kuehne & Nagel, LVMH, BMW Group, and Groupe Renault, have been utilizing the VeChain blockchain for their business.
VeChain is a cryptocurrency and smart contract platform designed to enhance supply chain management for businesses. Its goal is to simplify the flow of information for complex supply chains through distributed ledger technology (DLT). It aims to establish an efficient digital collaboration between businesses by giving them effective data transfer and supply-chain management tools.
The Vechain platform operates with two distinct tokens: VeChain Token (VET) and VeChainThor Energy (VTHO). VET coin is used for voting on changes to the protocol, and VTHOR is utilized for making transactions on the VeChain platform.
Democratizing the luxury watch market, Chronoly.io has been on a golden run since its launch in May 2022. The pre-sale success of Chronoly.io is one of the biggest positive highlights of the crypto market. The value of Chronoly’s CRNO has already increased by 560% and is expected to grow further.
Chronoly.io platform lets people make fractional investments in NFTs of luxury watches belonging to brands like Patek Phillippe, Richard Mille, and others. Chronoly.io has joined hands with these multinational high-end brands to procure a physical version of the watch and then mint NFTs against them. With physical watches backing the NFTs, Chronoly’s CRNO token is it’s native currency that powers the Chronoly.io ecosystem, a first-of-its-kind approach in the crypto market. Thus, the project is extremely stable and profitable since real-world assets make its NFTs immune to market speculations.
Notable here is that the project’s whitepaper has highlighted that the luxury watch market has been pegged to register a potential value of $49 billion.
On Chronoly.io, a person can purchase luxury watch shares for as little as $10 to the whole market price of the watch, i.e. 100% NFT of a watch. If a person purchases 100% NFT of any watch, they can burn it to redeem the physical version of the timepiece.
These unique characteristics of Chronoly.io have earned a big name for the project. Consequently, the value of Chronoly’s CRNO has skyrocketed by more than 560%. Its current price is $0.066, while it was launched with a price tag of just $0.01. Meanwhile, experts are of the opinion that CRNO can grow by over 3,000%.
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