This year has brought many upheavals in the crypto market. Starting from January 2022, the market began to go downhill, the fall became steeper around April and May, and the crypto arena plummeted by the end of July. Several cryptocurrencies lost their ground during this period, and their value plummeted severely.
However, from the end of July, the market has shown signs of revival, and so do many cryptos. Two notable cryptos here are Elrond (EGLD) and Tezos (XTZ). Following the market’s revival, these cryptos have also registered a phase of upward movement.
Meanwhile, the market has found a sigh of relief and is cherishing the success of Chronoly.io during these trying times. Chronoly.io is the new entrant in the market that has posted a growth of over 560% during its presale phase.
Tezos (XTZ) Begins to Move Upwards After Months
Tezos (XTZ) has been moving upward over the last week. Currently, it is trading at $1.94. However, its current price is still below the coin’s all-time high of $9.12.
Some time back, Tezos (XTZ) was one of the favorites of crypto investors. However, the network has been falling lately.
Tezos (XTZ) network is touted for introducing a system of self-governance. Tezos (XTZ) also allows peer-to-peer transactions, trading of assets, developing applications, and creating smart contracts like most other crypto projects. However, Tezos (XTZ) is considered distinct because it has projected itself as a platform with self-amendment and on-chain governance.
Self-amendment and on-chain governance mean that anyone who owns XTZ crypto can introduce and vote on changes to the network’s rules. This is different from other projects where control remains with the developers or the major stakeholders.
Elrond (EGLD) Indicates End of Sluggishness
The price of Elrond’s EGLD has been rising for the last few weeks. In July, Elrond’s EGLD recorded a growth of around 17%. The price of EGLD has recorded an uptick.
Elrond (EGLD) entered the crypto market as competition to Ethereum. It is a layer-one blockchain protocol. Elrond has established itself as a leading smart contracts network for dApps developers as it promises to offer a cheaper and faster environment to the developers. EGLD is used as the native token of the Elrond network. Elrond uses the proof-of-stake (PoS) protocol. Besides, it allows investors to stake their EGLD tokens.
Given that the overall crypto market has shown some signs of revival, analysts expect that EGLD can rise further, supported by the bullish sentiments. Currently, Elrond’s EGLD is trading around $67.
Chronoly.io Demand Increases Further
Chronoly.io‘s run on the crypto market has been the dream for many projects. The pre-sale of Chronoly’s CRNO token has been recorded as one of the most successful pre-sales in the crypto market. Chronoly’s CRNO token has risen by 560% since its launch in May 2022.
Chronoly.io platform lets people make fractional investments in NFTs of luxury watches from multinational luxury brands. Chronoly.io procures a physical version of the watch and mint NFTs against them. Hence, there is a surety for the project’s stability and profitability since it is backed by real-world assets.
The project’s whitepaper also underlined that the luxury watch market is valued at $49 billion and lacks innovation. The value of luxury watches generally increases in value over time as they are uncorrelated to the stock markets or impacted by market sentiments.
Due to its unique features, tangible utility, and real-world asset backing, the value of Chronoly’s CRNO has gone ballistic, with more than 560% growth in a couple of months. CRNO’s current price has propelled to $0.066 from the launch price of just $0.01. Analysts have also made a prediction that CRNO can rise by over 3000% over the next two months alone.
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