Chronoly.io Sustains 560% Gain While PancakeSwap (CAKE) and Polygon (MATIC) Struggle to Keep Up – Cryptonews
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The crypto market is home to so many promising projects. Aside from Bitcoin, there are altcoins that can help balance your investment portfolio. Some of the altcoins include Chronoly (CRNO), PancakeSwap (CAKE), and Polygon (MATIC). In recent weeks, these three tokens have enjoyed price appreciation, with Chronoly.io sustaining 560% growth.
Will these tokens keep up with the tempo? Let’s find out!
Chronoly.io is one of the most outstanding tokens that earned appreciable gain in the previous weeks, sustaining a 560% growth. Experts believe that the reason for the price appreciation is due to the real-world use-cases Chronoly.io brings to the table. Plus, the team is planning a big move into the metaverse. Chronoly.io is the first decentralized marketplace built on the Ethereum blockchain for watch authentication and watch co-ownership. The project allows users to trade, invest, and authenticate watch NFTs, which are backed by a physical version of the watch, which Is held in a vault.
Chronoly.io has a utility token with the symbol “CRNO.” The token comes with exciting features, including special access to exclusive NFT drops, live and virtual watch networking events in the metaverse and a multitude of other benefits through their exclusive members only club. The token is still in presale and currently trades at USD 0.066. If Chronoly maintains its current tempo, before the end of the presale, the price point might surge to around USD 0.50.
Chronoly (CRNO) is in its phase three at the moment. According to the project’s roadmap, Chronoly (CRNO) plans to launch on a top 10 centralized exchange and also launch an NFT marketplace. The roadmap also shows that the Chronoly (CRNO) team will launch a private members club where users or token holders will enjoy a wide range of benefits. Other activities lined up for phase three, include expanding influencer outreach, building strategic partnerships, and launching a lending protocol.
PancakeSwap (CAKE) plans to increase farming rewards to enhance its token utility and add new features that will attract investors. The proposal received overwhelming support from stakeholders, including investors, traders, and crypto enthusiasts. If the plan by PancakeSwap (CAKE) comes to fruition, experts believe that the project will further enjoy price appreciation. In the last weeks, PancakeSwap (CAKE) earned price appreciation, despite the fact that heavyweight cryptos like Bitcoin and Ethereum nosedived.
According to the PancakeSwap (CAKE) roadmap, in the coming week, the developmental team will add value to the project’s staking system. The initiative will introduce assets like vCAKE, bCAKE and iCAKE. These assets are meant to provide real-world value to users and also offer farming benefits. Experts believe that once these assets hit the market, the price point of CAKE might surge to the USD 5 threshold. According to CoinMarketCap, PancakeSwap (CAKE) trades for USD 3.89 with a 24-hour trading volume of USD 58,392,935.
On July 25th, the global crypto market faced a massive dump by all categories of investors and traders alike. Consequently, the prices of altcoins went down, except for a few ones like Polygon (MATIC). The Ethereum-based token earned appreciable gain and exhibited a 31% weekly gain, while bulls target USD 1 in the coming weeks. The motivating factor that led to the price appreciation may not be unconnected to the announcement by Disney to adopt Polygon (MATIC) for its Accelerator Program.
Experts believe that the announcement by Disney drove Polygon (MATIC) to an uptrend despite the crypto wind, leading to the token’s most recent technical outlook. Disney’s initiative will emphasize artificial intelligence, NFTs, and augmented reality. Disney plans to offer users more information in the future about the collaboration. For now, the announcement has given investors a boost in Polygon (MATIC) and its token price might surge further.
Meanwhile, Polygon Hermez may go live in EthCC. Polygon’s co-founder, Mihailo Bjelic, promised to give more details about the move in the coming weeks. The Polygon (MATIC) has been promoting the technology since the start of this year. Polygon Hermez is a zero-knowledge and open-source technology that allows for evidence without revealing any data to the verifiers. As of press time, Polygon (MATIC) trades for USD 0.879180 with a 24-hour trading volume of USD 1,465,490,864, according to CoinMarketCap.
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August 3, 2022 at 10:18PM