As the Federal Reserve reduces stimulus and raises interest rates to battle inflation, the value of cryptocurrency has fallen sharply this year. All kinds of risky assets, even highly valued tech companies, have been overcome by the poisonous atmosphere. However, cryptocurrencies have been particularly badly hit, with Bitcoin losing more than a third of its value this year, and others, such as Ether, dropping 50 percent. But, crypto is not going away and investing in the right token now could bring you rewards later.
This is why we are excited about the relatively new crypto project, Chronoly.io that is still in its presale and is up 400%outperforming both Stellar (XLM) and Filecoin (FIL).
Chronoly (CRNO) is a real value-based project
The Chronoly.io project is not creating value through partnerships but is leveraging NFT technology and investment grade watches to create a decentralised, fractionalised watch investment marketplace.
By generating NFTs backed by real timepieces and then fractionalizing them, Chronoly.io has made luxury watch ownership more accessible to the general public. Chronoly.ioseeks to change the perception of the luxury watch market as an investment vehicle only for the wealthy by launching a new marketplace enabling anyone to own part or the whole of a luxury timepiece digitally. Holders of the watched backed NFTs have the option to trade small portions of the watch like stocks or to hold 100% of the watch fractions and redeem the watch out of the Chronoly vault.
Some cryptocurrency traders are predicting that the Chronolynative token (CRNO) could become a big player in the crypto space when the markets start to recover and could see the price of CRNO tokens reaching as high as $0.50 in the near future, owing to the project's unique combination of real-world assets and non-fungible tokens (NFTs).
Stellar (XLM) - a coin that is oversold?
Lower low peaks have been formed throughout the past seven months, with the current price of $0.11. There has been a substantial increase in Stellar (XLM) token price at the end of May. Once the token has crossed the downtrend line and closed above it, an uptrend pattern with higher highs and lower lows can be predicted to form.
To get to overbought territory, the price of XLM moved into the second week on May 22. Neutral movement is indicated by the RSI indicator's current reading of 51. According to Bollinger Bands, XLM prices are seeing minimal volatility because the bands are getting smaller and the price is bouncing off of upper and lower bands.
Filecoin (FIL) is still in a bear market
Using Filecoin, anyone can save, retrieve, and host digital information on a decentralized, peer-to-peer network. Filecoinmakes cloud storage commoditized and allows users to monetize their data by reselling it. There is no single corporation that controls the amount of space or the cost of storage that users may access, according to the official website of Filecoin. Open marketplaces and low-cost file storage are two of Filecoin'sprimary objectives. From $15.64 to $6.45 since May 1, 2022, the current price of Filecoin FIL/USD is $5.69. FIL is still in a bear market, but if the price breaks through the $10 resistance, the next price objective might be at $12.
For more information about Chronoly Pre-Sale:
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