The recent cryptocurrency downturn has hit many investors hard and as Bitcoin (BTC) seems to be bottoming out near the $30,000 mark, many want to know where the price is headed in the market.
chronoli (CRNO) is an asset-backed digital currency option that allows investors to buy a stake in real-world assets. The Chronoli (CRNO) project saw three-digit gains last week and their community is growing very rapidly.
Stellar Lumens (XLM) was another beneficiary on news of a partnership with global payment processing firm MoneyGram, which will bring new users from the world of cash remittances to the blockchain. Finally, Tron (TRX) has recently seen interest from whale investors and new investors are scrambling to capitalize on the 30% APR to bet in their own stable USDD.
Stellar (XLM) backed by MoneyGram tie-up
Stellar Lumens has moved higher in the past week with a gain of 14%. The announcement of a new partnership with payments giant MoneyGram is seeing investor interest in the project. According to a Bloomberg report, MoneyGram is set to tie up with payments blockchain Stellar (XLM) in a project that will allow customers to send and receive stablecoins via the XLM blockchain.
Stellar Developments CEO Danelle Dixon said:
“There are billions of cash-dependent people around the world who can benefit from the utility that digital assets and blockchain provide… What we are building through this partnership is to help them move from cash to digital assets. To do a service.”
Investors have an opportunity to ride the wave of adoption in XLM, with the deal likely to generate new crypto users. In the current environment, coins that have stood the test of time are witnessing growth and new developments. There is also increasing investor interest in asset-backed crypto.
Tron (TRX) Watches TVL Growth and Whale Interest
According to data from Woo Blockchain, the Tron network has seen its Total Value Locked (TVL) increase by 45% over the past 30 days. TVL is the amount staked on a platform and is an important metric in DeFi projects.
The latest increase can be linked to the launch of the network’s native stablecoin USDD, which allows users to earn 30% annual percentage yield (APY) if they stake on the JustLend platform. Trouble in the Terra stablecoin has seen investors looking for opportunities elsewhere and Tron (TRX) has been a beneficiary.
(Tron)TRX was the best gainer of the month among older coins and data from Whale Alert shows that large investors added over $293 million to the Tron (TRX) token. Approximately 3.56 billion Tron (TRX) has been transferred from the Binance exchange to the wallet and this includes two large transactions worth over $76 million.
Cronoli (CRNO) Offers Asset-Backed Option
Cronoli (CRNO) has outperformed both XLM and TRX profit of over 400% Last week alone. The project has recently 100 million coins sold in pre-sale And getting ready for the second phase of release. Chronoli (CRNO) is a unique project that provides asset-backed crypto through the ability to buy and sell stakes in rare and exclusive watches from world-class brands such as Rolex, Patek Philippe and Audemars Piguet.
New investment opportunities are created by the founding of NFT, which are backed by timepieces and are fully insured and stored in a depository vault. Many investors, having faced the latest cryptocurrency downturn, will see the project as a real-world asset that can back the project.
The previous hot areas of the market were in NFTs and Decentralized Finance (DFI), but these projects have suffered following the Terra stablecoin issue and a drop in sales volume and value of NFTs. The trouble with projects like Terra was driven by trust issues, where investors pull their deposits and no longer believe that a stablecoin can be backed 1:1 versus the US dollar. By providing fractional exposure to actual physical assets, investors know what a CRNO token is by looking at the inventory list.
Chronoli (Crno) Will appeal to traditional investors who like to diversify assets such as watches and art. In addition, the CRNO will allow them to do so without the need for their own safe deposit. To conclude, the process is completely digital and hosted on the blockchain which provides proof of ownership.