Stacks (STX), Decentraland (MANA) Suffer Market Crash While Chronoly.io Gains Big in Pre-Sale
The cryptocurrency market is full of uncertainty, and if investors are not attentive to the market trend, they might suffer some losses. Currently, Stacks (STX), Decentraland (MANA), and Chronoly (CRNO) are three projects that are in the focus of crypto enthusiasts around the world, although for different reasons.
While investors are worried about the market performance of Stacks (STX) and Decentraland (MANA), they are delighted with the success story being written by Chronoly.io. Chronoly has become the talk of the town following its pre-sale success, where it has registered a growth of 690%.
Stacks’ Prices Keep Falling
Stacks (STX) is another token in the list of cryptos that have taken a severe blow during the market crash and have not been able to regain their growth. Since the overall trade volume on the platform has gone down, the price of Stacks’ STX has dipped by 24.27% in the past week. Currently, it is trading at $0.39, while the all-time high (ATH) price of STX was $3.61. Investors are concerned whether Stacks (STX) will ever be able to reach the ATH again. Hence, Stacks (STX) needs to increase the trading activity on the platform.
The Stacks network primarily enables NFTs, dApps, DeFi, and smart contracts for Bitcoin (BTC). It utilizes the PoT (Proof of Transfer) consensus mechanism and builds DApps (decentralized applications) on top of Bitcoin. Besides, its users can lock their STX to receive BTC. STX is the native crypto of the network.
Decentraland Struggles To Generate Demand For Land
Decentraland (MANA) suffered a severe blow due to the recent market crash. Even though the crypto market is showing signs of revival, Decentraland (MANA) is yet to find positive momentum. The overall trade volume on the platform has not been able to pick the pace to push MANA’s prices higher. The price of Decentraland’s MANA has fallen by over 21% in the last week. At present, MANA is trading at $0.85, which is around 85.60% below its all-time high of $5.90.
Decentraland (MANA) is a 3D virtual reality metaverse, built on the Ethereum blockchain. It allows users to create and monetize content and applications. Decentraland (MANA) holders can purchase VR plots of land that they can build upon and sell in the form of NFTs. The platform is compared to Sandbox as it also offers a gaming space by providing interactive 3D games. Decentraland’s native token is LAND and MANA. MANA is used to purchase avatars, non-fungible LAND tokens, avatar outfits, and avatar names.
Chronoly’s Growth Rally Speeds Up
Scripting a massive success story, Chronoly.io (CRNO) has performed exceptionally well during its pre-sale. Chronoloy.io is a new entrant to the crypto market but has registered a staggering growth of 690%.
Being the world’s first digital marketplace, Chronoly.io allows trading NFTs of rare collectable watches. In addition, buyers can purchase the luxury watches’ NFTs, starting from as low as $10. The uniqueness of the business lies in the fact that Chronoly.io procures a physical version of rare collectable watches and mints NFTs against them. It makes Chronoly’s NFTs asset-backed and stable in the market.
Besides trading, Chronoly users can also take loans against their NFTs or stake their CRNO token in the lending pool to yield passive incomes. CRNO is the native crypto of the Chronoly.io platform.
While it is in the third phase of its pre-sale at present, Chronoly.io is poised to become one of the leading crypto projects by the end of this year. The price of CRNO has increased from $0.01 to $0.079 since its pre-sale launch in May 2022. It is also believed by analysts that CRNO can grow by 2500%-5000% in the coming months.
For more information about Chronoly.io presale
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