Bitcoin (BTC) and Ethereum (ETH) are trying to find support from the latest crypto turmoil, but the $20,000 level is becoming elusive for BTC. The coin gave up some gains on Friday and is currently trading in large numbers at $21,074. Ethereum is back above $1,000 after a hedge fund liquidated its holdings, having pulled below $1,000 last week. The drama in the top two coins has again dragged the crypto market down but chronoli (CRNO) was a rare beneficiary. The project is entering the NFT space with token investments in luxury watch brands and the project shook off the bear market by increasing presales by 400%.
Bitcoin (BTC) Trades at $20k But Some Dreams Are in Tatters
Investors were assured that Bitcoin (BTC) would reach $100k in 2021, but almost a year later it is trying to hold on to the $20k level. The dreams of BTC extremists, who believe that only coin will dominate the sector, is up in smoke. Government regulation, central bank currency schemes and weakness in some DeFi projects have sucked the air out of BTC sells. Usually when markets fall like this, they need time to recover and crypto can be the same as investors’ confidence is once again broken.
Ethereum (ETH) sheds light on the dangers of leverage
Ethereum (ETH) falling below the $1,00 level is another warning of leveraged risk. The Three Arrows hedge fund had taken large debt from crypto exchanges and the margin call resulted in the liquidation of assets in a betting ETH synthetic instrument. Weakness in ETH created a hole and fears of bankruptcy of the company added to the losses. The losses have also exposed the DeFi market where TVL values were seen as rock solid, but investors have fled as interest rates rise.
Cronoli (CRNO) can protect investors from false promises
Chronoli (CRNO) is the world’s first fractional watch investment platform built on the Ethereum blockchain. A user can invest in F-NFT with as little as $10. The NFT is backed by a rare, luxury and exclusive watch. Investors burned by the false promises of analysts should pay attention to the project. Asset-backed NFTs offer a token investment that will maintain its value and survive crypto bear markets. As we have seen in the current environment, part of the crypto hit was from inflation, but watches are an inflation hedge. Investors have diversified into physical assets like watches in the post-war era.
Cronoli has advantages in which traditional investors and professionals are taking a major interest. The decentralized market for NFTs brings 24-7 trading and new liquidity. Historical and real-time pricing, along with verification via the blockchain, brings reliable transparency to the market. The watch market has historically been riddled with counterfeits and bad actors, but Chronoli will change that, making it easy for anyone to verify a watch’s authenticity by storing all watch details in metadata. To be audited for investor assurance. It is also predicted that the CRNO may increase by another 2,000% from its current position on 27 September, before the completion of Presale Phase 3. Which if you ask me, a 20x ROI within a few months in a bear market is just a dream at the moment.
More about the Chronoly.io presale here:
pre Sales: https://presale.chronoly.io/register