Nowadays, it’s safe to assume that pretty much everyone has heard of Bitcoin (BTC), and the largest cryptocurrency by market cap has been the catalyst to the innovation of blockchain technology.

But fame and fortune do not shield Bitcoin from the cold winds of market forces. However, not all cryptocurrencies have taken a hit from the recent market collapse. A new crypto project Chronoly.io and its utility-token $CRNO has remained bullish and skyrocketed over 500% during the bearish period and here’s why.

Bitcoin (BTC) hit $19,000 on its first day of trade in July. By market capitalization, the world’s largest cryptocurrency is trading pretty flat and hasn’t experienced much price movement overnight.

Bitcoin has lost 27% of its value since this time last year when it was selling at roughly $37,000.

That said, interest in Bitcoin futures is lively. Bitcoin futures and perpetual currently account for 63 percent of the cryptocurrency futures market’s open interest. According to data from Arcane Research, open interest was around 50% in early April.

This comes as global interest in the cryptocurrency sector has plummeted. BTC futures, which account for 63% of the cryptocurrency market, have reached their highest level since October 2021.

Bitcoin’s dominance in the futures market reflects the cryptocurrency’s overall market dominance, which increased in May. This data, according to Joshua Lim, head of derivatives at Genesis Global Trading, implies that speculative interest in altcoins is waning.

If you’re in the market for capital accumulation, then you need to be looking at newer coins with that high growth potential. Chronoly.io has the potential to be named the 2022 Blockchain and NFT Project of the Year because of its innovative unique use case.

The Chronoly.io team is launching the world’s first fractional investment marketplace for NFTs that are backed by the real physical version of the watch.

This stock-like method of buying, selling, and investing in luxury watches is set to revolutionize the $64bn watch market.

Through fractionalizing the watch NFT, it allows people to share ownership of a luxury watch and verify the watch’s authenticity. Individuals who hold 100% of the NFT fragments are able to redeem the real watch out of the Chronoly.io vault. 

According to the team behind the Chronoly.io platform, they plan to integrate with the metaverse and partner with gaming companies enabling users to wear and showcase their collection digitally. 

The value of the Chronoly Token (CRNO) has increased by 560% from $0.01 to $0.06 while it is still in its presale, with many industry experts predicting that Chronoly (CRNO) could prove to be the ‘Next Big Thing’ in the crypto markets, and given the fundamentals and the speedy growth, that looks like a sound prediction. 

Find out more about the Chronoly.io presale here:

Website | Presale | Telegram | Twitter

The post Bitcoin Price Is Stuck Below $20K as Chronoly.io Token Rises 560% appeared first on BeInCrypto.

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