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The crypto market has bounced after the recent downturn and Binance Coin (BNB) and Shiba Inu (SHIB) both saw double digit gains in the first week. Shiba Inu’s market cap has also recovered to rank at number 13 in the list of coins after slipping to 18 at one point. Despite the gains in both tokens, none of the could catch up to the performance of Chronoly (CRNO) which posted a 500% gain over the last few weeks.
Binance Coin (BNB) Sees a Recovery but Waits on the SEC
Binance Coin (BNB) has jumped as the crypto recovery gets a start. However, the coin may be limited in its gains due to the recent investigation threat from the SEC. The regulator said that it had launched an investigation to decide if BNB was a security. That would risk a lengthy court battle just like Ripple has undergone for a year and a half. Investors in BNB will be happy to see the recent bounce but are unlikely to be rewarded in the near-term as volumes may also suffer after the bear market shakeout.
Shiba Inu (SHIB) Bounces Back After Threat of Double Disappearance
Shiba Inu (SHIB) was previously pressured in the downtrend by the news that the coin’s founder, Ryoshi had disappeared, and deleted blog posts and tweets related to the project. That threatened a disappearance in the coin from the top twenty with the market cap slumping to nineteenth place. The founder has stepped down and left the project to others, but the token still has a long way to go to bring riches. There are 659 merchants who accept SHIB. That has not materially affected the coin. The project also has a huge coin supply and that also weighs on the token’s price.
Chronoly (CRNO) Sitting Pretty for a Trend
Chronoly is launching a trading marketplace for NFTs and those drops are minted against rare and luxury watches from the top manufacturers like Patek Phillipe. Investors will be able to snap up fractional stakes and join the wealthy in a proven inflation hedge and wealth preserver.
Chronoly (CRNO) has outperformed both coins over the bear market and actually has better prospects for the long-term. Chronoly’s blockchain marketplace for luxury watches will bring timepiece investing to a new age and the project has first-move advantage on that front. The NFTs minted by Chronoly can be traded on their marketplace or those owned by third parties and the watches are kept in safe storage with insurance and audits done on a monthly basis by a top 5 firm like Deloitte.
The blockchain will also bring verification for greater price transparency in the market and the asset-backed NFTs could provide a good source of collateral for investors in a quick and easy transaction. These are some of the many ways that the project will transform the market. Investors in the current presale can get access to the exclusive members club with regular prize draws for watches and cash. Some analysts have already predicted 5,000% gains for this project over the longer-term.
Read More:Shiba Inu (SHIB) and Binance Coin (BNB) Fail to Catch Chronoly (CRNO)