One factor to measure the viability of a crypto investment is understanding its impact on the physical world as well as the digital. Is it providing a service that people need and want? Is it helping people? These additional criteria could be the difference between investing in a long-term project or a dud with hype.
Despite the prolonged bear market, some tokens seemed to have performed exceptionally well. You just have to do your due diligence and listen to the right advice to unravel the tokens that can shoot your portfolio into success over the coming months.
Three of these tokens that you should give a trial include Chronoly.io (CRNO), XRP (XRP), and Polkadot (DOT). Can Chronoly.io (CRNO) sustain its 560% growth? Will the duo of XRP (XRP) and Polkadot (DOT) ever recover from their downward trend?
Let’s find out!
Chronoly.io (CRNO) Breaks Into The NFT Space
Chronoly.io (CRNO) has changed the way we trade and invest in the luxury watch market. Watch NFTs made by renowned brands like Rolex, Patek Philippe, Richard Mille, and Audemars Piguet are listed on the Chronoly.io (CRNO) marketplace, where you can invest with as low as $10. Chronoly.io (CRNO) is an Ethereum-powered marketplace that lets users own a portion of investment-grade collectable watches, which are backed by a physical version that’s held in a vault. One good thing about Chronoly.io (CRNO) is that the more NFTs a person buys, the more ownership they gain over a particular watch. This feature has made investors become bullish on Chronoly.io (CRNO).
Since inception in May 2022, Chronoly.io (CRNO) has continued to grow, surpassing the performance and achievements of even the most prominent tokens on the market. Industry watchers believe that the 560% growth is as a result of the real-world use cases that the token offers. The project’s native token, CRNO, helps to power the Chronoly.io ecosystem and also offers massive rewards to token holders. According to the project’s roadmap, the developmental team plans to collaborate with reputable influencers to further promote the project to young investors.
Chronoly.io (CRNO) has been a huge hit in the last few weeks, with its price climbing from $0.01 to $0.066 even during its pre-sale. Experts expect Chronoly.io (CRNO) to rise by 2,500%-5,000% in the coming weeks.
Why XRP (XRP) holders could be jubilant this August
XRP holders could have a reason to rejoice before the end of August despite the regulatory uncertainty surrounding the token. XRP, popularly known as Ripple’s native token, has been faced with massive price depreciation, thanks to the long-lasting SEC lawsuit. While major cryptocurrencies recovered from the persistence bear market in the last one week and broader equity markets strengthened, XRP attempted recovery both in price and its on-chain analytics. XRP showed a bullish sign in the last 24 hours but traded inside a short-term corrective pattern.
In a move to better the lot of the project, the XRP team registered for the Network Value to Transactions Ratio (NVT) charts. Whether you are a professional investor or not, the chart lets you clearly see a token price when it’s overbought. When the value of NVT is high, industry watchers consider it a bearish move, as the network’s worth is overvalued.
Despite the SEC lawsuit, experts still believe that XRR will regain its pre-lawsuit performance. At press time, XRP trades for $0.345920 USD with a 24-hour trading volume of $893,639,140 USD.
Polkadot (DOT) Hits The Brakes At $7.34 After Brief Recovery
While the bulls attempted a recovery and were able to rebound, the price point of Polkadot (DOT) nosedived further below $7.22. Polkadot (DOT) is an open-source blockchain cryptocurrency platform. At its basic level, it provides interoperability and interconnectivity between different blockchains and also allows the exchange of messages without a trusted third-party. According to Coinmarketcap, the price of Polkadot (DOT) dropped by 3.65%, trading at $7.54. As we come into September however, Polkadot is back on the rise being the biggest gainer at the start of this week.
Experts believe that the performance of Polkadot (DOT) is as a result of the presence of intense selling pressure from token holders. Plus, the bears had the opportunity to smack the bulls, which sets the next support at $7.05. Despite its performance, some token holders are still bullish, believing that Polkadot (DOT) is not the only coin affected by the global crypto waves. Polkadot (DOT) investors have called on the developmental team to invest more on digital marketing and advertising to attract young investors.
According to the project’s roadmap, the Polkadot team plans to list the token on more decentralized exchanges in the coming weeks. At press time, Polkadot (DOT) trades at $7.54 USD with a 24-hour trading volume of $312,239,099 USD.