This year has brought many upheavals to the crypto market. From January 2022, the market started going downhill, the decline steepened around April and May, and the crypto arena collapsed by the end of July. Several cryptocurrencies lost ground during this period and their value plummeted.
However, since late July, the market has been showing signs of a revival, as have many cryptos. Two notable cryptos here are Elrond (EGLD) and Tezos (XTZ). Following the market revival, these cryptos have also seen a period of bullish movement.
Meanwhile, the market breathes a sigh of relief and is pleased with the success of Chronoly.io in these difficult times. Chronoly.io is the new entrant to the market that has seen over 560% growth during its lifetime presale phase.
Tezos (XTZ) has been moving higher for the past week. It is currently trading at $1.94. However, the current price is still below the coin’s all-time high of $9.12.
A while ago, Tezos (XTZ) was one of the favorites of crypto investors. However, the network has declined recently.
The Tezos (XTZ) network is touted for adopting a system of self-government. Tezos (XTZ) also enables peer-to-peer transactions, asset trading, application development and smart contract creation like most other crypto projects. However, Tezos (XTZ) is considered to be in its own right as it has projected itself as a platform with self-change and on-chain governance.
Self-amendment and on-chain governance means that anyone who owns XTZ crypto can introduce and vote on changes to the rules of the network. This differs from other projects where control remains with the developers or key stakeholders.
The price of Elrond’s EGLD has increased in recent weeks. In July, Elrond’s EGLD posted growth of around 17%. The price of EGLD has recorded an upward trend.
Elrond (EGLD) entered the crypto market as a competitor to Ethereum. It is a layer one blockchain protocol. Elrond has established itself as the leading smart contracts network for dApps developers as it promises to provide developers with a cheaper and faster environment. EGLD is used as the native token of the Elrond Network. Elrond uses the Proof-of-Stake (PoS) protocol. It also allows investors to stake their EGLD tokens.
Given that the overall crypto market has shown some signs of a revival, analysts expect EGLD can continue to rise, helped by the bullish sentiment. Currently, Elrond’s EGLD is trading at around $67.
Chronoly.io’s run on the crypto market has been the dream of many projects. Chronoly’s CRNO token presale has been recorded as one of the most successful presales in the crypto market. Chronoly’s CRNO token has increased by 560% since its launch in May 2022.
The Chronoly.io platform allows people to make fractional investments in NFTs of luxury watches from luxury multinational brands. Chronoly.io sources a physical version of the watch and mints NFTs against it. Therefore, there is a guarantee of the stability and profitability of the project, as it is backed by real assets.
The project’s white paper also highlighted that the luxury watch market is valued at $49 billion and lacks innovation. Luxury watches generally increase in value over time as they are not correlated to stock markets or influenced by market sentiment.
Due to its unique properties, tangible utility, and real asset backing, the value of Chronolys CRNO has skyrocketed, with growth of more than 560% in a few months. CRNO’s current price has increased from its introductory price of just $0.01 to $0.066. Analysts have predicted the same CRNO can rise over 3000% just in the next two months.
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