BTC and ETH Fall As Interest Rates Rise, But Chronoly Is Up 560%

With inflation still at record highs in the past few decades, the Federal Reserve has been steadily raising interest rates to quell consumer and business spending. If you’ve been in the crypto game for a while, you’ve probably seen the correlation between stocks and crypto, particularly the big two, Bitcoin (BTC) and Ethereum (ETH). And you’ve also probably noticed that when interest rates rise, stocks and crypto fall.

Let’s take a look at some of the recent hikes and one coin that seems unaffected by interest rates.

Bitcoin (BTC) and Ethereum (ETH) are closely linked with equities

When the Fed first raised rates back in March, it was only a minor increase of 0.25%, the first hike since 2018. Markets seemed to have priced this move in, with Bitcoin and other cryptos seeing a little drop before going on an uptrend in the following few weeks.

However, increased bearishness due to the Fed raising interest rates 0.5% in May saw a significant decline in Bitcoin of over $10k in just ten days. Similarly, this prompted Ethereum’s decline from nearly $3000 to a low of $881 in a little over a month.

At the Fed meeting in June, another hike, this time 0.75%, caused prices to decline even further. So why does this happen? Interest rate hikes are bad for demand. They prompt consumers and businesses to stop spending as much, which decreases flows into stocks and crypto as people become warier and more open to simply saving their money with minimal risk.

However, one crypto coin hasn’t seen a substantial drop in price; in fact, it’s up 560% in the same period that Ethereum declined 70%. It’s called Chronoly.io (CRNO), and investors are now looking to this real-world utility token to act as a solid place to grow their money.

Chronoly.io (CRNO) shows its resilience

The Chronoly.io ecosystem is intrinsically linked to the luxury watch market - a market, like art or vintage cars, that is relatively unaffected by interest rates and inflation. The Chronoly.io project is a decentralized marketplace for the average Joe to invest in luxury watches, from big name brands like Rolex, Audemars Piguet, and Patek Phillipe, for as little as $10.

Chronoly.io has minted several fractional-share-based NFTs that allow you to participate in the ever-growing watch market. These watches are authenticated and back the NFTs, determining their value based on real-world worth.

Chronoly.io native token, CRNO, can be used for discounted buying fees and staked for a passive income of at least 10% - much better than any bank will give you. And it’s seen a meteoric rise of 560% while the rest of the crypto market crashed, already showing its resilience.

Now in phase 3 presale with just over a month left, Chronoly.iois sat at $0.066. However, analysts are calling it hugely undervalued based on its fundamentals. Some are even projecting prices of $0.75-$1.00 by the end of presale, marking a potential 1000%+ gain in just a matter of months! As a result, crypto whales have been flooding in, realizing the potential of diversifying their investments by grabbing their piece of the luxury watch market.

For more information about Chronoly.io presale

Website: https://chronoly.io/

Telegram: https://t.me/Chronolyio

Presale: https://presale.chronoly.io/register

Twitter: https://twitter.com/Chronolyio

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.