As the market is moving upward, crypto projects across sectors are concerned with their price appreciation. But projects like VeChain (VET) and Dai (DAI) have been unable to maintain their gains. Their bumpy ride on the growth chart has lessened their cumulative gains in the past months. On the other hand, Chronoly.io (CRNO) has increased its market stature following the success of its pre-sale.
VeChain (VET) Price Drop Lessens Gains
Since the overall market has started adopting a positive outlook, several altcoins, including VeChain (VET), have been able to post growth. However, the level of gain has been uneven. Although VeChain (VET) has scored positive numbers, the increase in its price has been minimal, owing to a lack of continuous growth momentum. The price of VeChain (VET) has dropped by 0.67% this week, lessening the gains made in previous weeks. Currently, VeChain (VET) is being traded at $0.023.
VeChain (VET) is a blockchain-based smart contract platform that aims to enhance supply chain management for several businesses. VeChain (VET) envisions simplifying the flow of information for complex supply chains. VeChain (VET) was developed to establish an efficient collaboration between businesses by providing them with effective data transfer and supply-chain management tools. VeChain Token (VET) and VeChainThor Energy (VTHO) are the two tokens used on the VeChain (VET) network.
Dai (DAI) Sees Slight Gains
DAI’s movement on the price chart has been quite bumpy. Since the price of Dai (DAI) mainly depends on its circulation, the recent market rebound has lent a helping hand to the token. Dai (DAI) has registered an increase of 0.03% in its value in the past week. However, the increase has not made any big impact on the growth chart of Dai (DAI). The Dai (DAI) price has remained in the bracket of $0.99 to $1.0 for a long time. Dai (DAI) is currently traded at $1.00, which is around 73% below its all-time high of $3.67. Dai (DAI) hit its all-time high in November 2021.
DAI is a blockchain-based stablecoin, and its price is pegged to the value of US dollar. Dai (DAI) was launched as a less volatile crypto. Dai (DAI) is based on the Ethereum network. Though Dai (DAI) follows the US dollar’s price movement, it is not backed by US dollars.
Chronoly.io (CRNO) Becomes A Heavyweight Contender
Surpassing long-standing cryptos in just a few months of its launch, Chronoly.io (CRNO) has increased its market share significantly. Decentralizing the luxury watch market, Chronoly.io (CRNO) is a blockchain-based marketplace that has surprised crypto analysts with its pre-sale success. Chronoly.io’s (CRNO) has witnessed a 690% increase in its value, pushing the price of Chronoly.io (CRNO) up from $0.01 to $0.079 since its launch in May 2022.
Chronoly.io (CRNO) is the first platform that lets people invest fractionally in luxury watches. Chronoly.io (CRNO) is a digital marketplace that mints NFTs of luxury timepieces to make them tradable. On Chronoly.io (CRNO), people can purchase NFTs of these luxury watches for as low as $10.
The business roadmap of Chronoly.io (CRNO) provides real-world asset backing to Chronoly.io’s (CRNO), protecting the token from any market crash. Moreover, tokens backed by physical assets are considered more stable. The whitepaper of Chronoly.io (CRNO) states that the luxury watch market can bag a profit of $49 billion in the coming years. Hence, crypto enthusiasts have rallied for Chronoly.io’s (CRNO) unique business plan. Experts believe that Chronoly.io’s (CRNO) token will rise by another 2,500%-5,000%.
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