Why are Polkadot (DOT) community jumping ship to Chronoly (CRNO)?

Dr. Gavin Wood, one of the Ethereum co-founders and creator of the Solidity smart contract language, is the mind behind Polkadot. Midway through 2016, Dr. Wood began developing his concept to “create a sharded version of Ethereum,” and in October of the same year, he published the initial edition of the Polkadot white paper. Despite the level of solid work that has gone into it, Polkadot is struggling to stay ahead of the game and there has been a trend that has see large groups of the Polkadot community jump ship to projects like Chronoly (CRNO) which is already up 500% over the past two months.

Polkadot (DOT) appears to be treading water

With a retest of support close to the $7 price level, Polkadot [DOT] just wrapped up one of the most turbulent weeks on the cryptocurrency market. At the time of publication, it had gained 2.35% in the last 24 hours and was trading at $6.89, bringing its weekly loss to 10.71 percent. In contrast to other popular cryptocurrencies, some of which lost less than 5% in the last week.

For the past three days, the price of Polkadot DOT has been consolidating close to the $7 mark. This is roughly where it was at the bottom during the May crash. This indicates that there hasn’t been much demand to drive the price down, and the same support line has been holding strong. Due to the state of the market,Polkadot DOT has so far only managed modest upside. Although it doesn’t appear to have been subjected to much selling pressure, it also didn’t manage to attract enough buying interest to support major gains.

Chronoly (CRNO) laughs at the bears

Chronoly (CRNO) experienced a price increase of 500% despite embarking upon its presale stage in the midst of the worst bear market since 2020. Furthermore, some analysts anticipate that the cryptocurrency will experience a price increase of 2,500 % prior to the end of the presale stage in September. Investing in expensive watches is now possible on the blockchain thanks to Chronoly NFTs of investment-grade watches. These NFTs, or fractions of them, make it possible for investors to buy, sell and lend against luxury watches, which will boost the liquidity of the $64bn market.

Chronoly (CRNO) may be able to fuel future gains with its metaverse aims. One of these objectives is to create a parallel universe known as the “Chronoverse” to compete with the “Materverse.” On the Chronoverse, the project may engage in collaborative efforts with well-known watch brands. Turning real-world brands into NFTs that carry their asset value with them is proving to have commercial utility, as major brand companies such as Dolce & Gabbana and Nike are now selling their products in NFT form. This demonstrates that there is commercial utility in turning real-world brands into NFTs. Users had the ability to add their personal watch collections to their avatars. The second round of Chronoly’s presale is currently underway, and the platform will soon go live on Uniswap and Pancake Swap. Some of the most experienced cryptocurrency market analysts believe that Chronoly has the potential to become the next token to reach 1,000x its current value.

More information about the Chronoly project here:

Website: https://chronoly.io/
Telegram: https://t.me/Chronolyio
Twitter: https://twitter.com/Chronolyio

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