Polygon (Matic) Community Are Buying More Chronoly.io Tokens This July – Experts Suggest

While cryptocurrency markets struggled to recover since the crash triggered by Terra (Luna) debacle in June this year, a new Ethereum blockchain-based fractional watch investment marketplace Chronoly  and its native token (CRNO) made waves among investors during the same period. Much to the surprise of analysts, this happened during the crypto crash and the token is still in the presale phase.

The 660% surge in Chronoly price has come at a time when powerful cryptos like Polygon (Matic) and even Bitcoin (BTC) have left their communities disappointed due to steep fall in prices. According to experts, the rising number of CRNO buyers suggest it has managed to gain the interest of communities like Polygon and others looking for the next gem token.

As extreme volatility in crypto markets is expected to remain in the near future amid weak global cues, let us first take a look at the reason that is driving interest in the Chronoly token.

What makes Chronoly Special

Chronoly.io marketplace is disrupting the luxury watch market by allowing anyone to fractionally buy, sell and invest in rare and collectable watches from big brands like Rolex, Patek Philippe, Richard Mille and Audemars Piguet. The marketplace offers NFTs that represent a unique digital asset that is traceable and tied to the real-world watch.

The global watch market is worth over $60bn, with the luxury segment contributing around 64% to this growth. The potential of the luxury watch segment and the excitement of owning rare watch collectables are driving investors’ interest in CRNO, the native token of Chronoly.io marketplace.

Is there a bright future for Polygon (Matic)?

With a maximum supply of 10 billion tokens, Polygon network’s Matic token has found a lot of traction among investors since its launch in 2017. Polygon, which was previously also known as Matic Network, offers an easy-to-use platform for Ethereum scaling and infrastructure development.

However, when it comes to price, Matic token is subject to the same extreme volatility and uncertainties affecting many other cryptocurrencies. Since it is not backed by any real world asset, Matic price is largely dependent on external factors like macroeconomic stability and hype. Nevertheless, the token may have a bright future only if the Polygon network continues to grow and innovate.  

CRNO vs Matic price Trends

CRNO token price has appreciated around 660% since the start of pre-sale in April. It was initially offered in presale at a price of $0.01. However, as of today, CRNO’s price has jumped 600% to $0.066 in the second phase of presale that will end after 15 days. Moreover, 49 million CRNO tokens, out of the total presale supply of 175 million, have already been sold.

Matic has suffered one of its worst times in the current bear market. According to CoinGecko data, the price of Polygon Network token is down nearly 50% in the last one year. It is also 80% down from $2.92, the all-time high price this token achieved on December 27, 2021.

What to expect from crypto markets in July

Cryptocurrency markets are undergoing a big correction – not just in terms of prices. It has been observed that coins with little real-world use cases or asset backing are getting wiped out. Even some of the top crypto firms that ventured into non-asset backed speculative crypto lending activities are either shutting shops or eying bankruptcy, putting the hard-earned money of millions of retail investors at risk.

It is a fact that most of the cryptocurrencies trading on exchanges today have no underlying value. They are not backed by real use cases or assets. Many of them have cropped up to ride on the hype surrounding cryptocurrencies. In this context, Chronoly is defying the dominant trend. Backed by real assets, which have huge appeal among luxury buyers, it is creating a niche for itself. CRNO price is thus expected to rise further as it moves from the presale phase and gets listed on exchanges soon.

For more information about Chronoly presale:

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