CRNO token has also outperformed other popular and high-value crypto assets like Algorand (ALGO) and Celo (CELO). The fortunes of ALGO and CELO holders witnessed sharp declines in 2022. In this article, we will take a look at how Chronoly (CRNO) has multiplied investors’ wealth while Algorand (ALGO) and Celo (CELO) have pulled them down.
CRNO is the utility token of digital luxury watch marketplace Chronoly.io, which is revolutionizing the segment by allowing users to own a share in rare watches for as little as $10 through fractional non-fungible tokens (NFTs). Chronoly marketplace has gained immense popularity in a very short time as investors and analysts are seeing a promising future for the platform and its native CRNO token.
Chronology (CRNO) was initially offered during the first phase of presale for a price of $0.01. However, due to heavy demand and interest of investors, CRNO token’s price went up to $0.079 during the presale phase, surging 690% from the initial price. If someone had purchased Chronoly (CRNO) tokens for $1000 during the first phase of presale, the value of their CRNO holdings would be $6,900 by the end of the third phase of presale. Analysts are now predicting that the price of Chronoly (CRNO) tokens will further multiply investors’ wealth after its formal launch in the open market, which is expected to take place in the next week.
The price performance of Algorand (ALGO) cryptocurrency has been disappointing for investors in 2022. ALGO is the native token of the Algorand blockchain network. The Algorand mainnet became live in June 2019. Algorand blockchain was launched with an aim to speed up transactions and improve efficiency while ensuring lower transaction fees compared to other networks like Bitcoin and Ethereum.
During the initial coin offering (ICO) in June 2019, Algorand (ALGO) tokens were offered for a price of $2.4 each. The token reached its all-time high of $3.28 but is now down to $0.37, according to data on CoinMarketCap at the time of writing.
During its three-year journey, ALGO price has decreased by over 84%. This year, ALGO token price has fallen by over 78%. In the first week of January 2022, ALGO touched a high of $1.7 but failed to sustain the momentum. In the last 30 days, however, ALGO token’s price has recovered by 25%. Algorand (ALGO) investors are now hoping that this uptrend could continue so they can recover their lost wealth.
Like Algorand (ALGO), the price of Celo (CELO) has also fallen sharply this year. While several other cryptocurrencies have made some recovery, CELO token seems to be in a free fall. The Celo (CELO) cryptocurrency touched a fresh all-time low of $0.7227 on 21st September.
As a blockchain ecosystem, Celo network aims to increase cryptocurrency adoption among smartphone users. However, market trends suggest CELO token is struggling to attract investors. Celo (CELO) price touched an all-time high of $10.66 on August 30, 2021. Celo is now down over 92% from the ATH, currently trading at around $0.82.
At the start of 2022, CELO token was trading over $5.3 before falling to $2.2 in February 2022. It surged briefly to $4.8 in April but lost the momentum in the subsequent crypto market crash. While CELO has disappointed investors this year, it is expected that all is not lost for the token holders. In the last 7 days, CELO token has recovered 4.2%. If the bulls can continue the support, the price of Celo token may soon surge over $1. But until that happens, investors are keeping their fingers crossed and, possibly, betting on new and promising projects like Chronoly.
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