In conjunction with the rest of the crypto market, Binance Coin (BNB) has seen a recent uptick in prices following a larger crypto market recovery. As volatility grips the market, traders have been stopped out all over the place, with a reported $562m in liquidations on the Binance exchange after the recent fall in August.
Today, we’re going to be taking a look at Binance’s price action before examining one token that’s doing very well, known as Chronoly.io (CRNO).
Binance Coin (BNB) is shaking traders out
Binance Coin (BNB) is Binance’s native token, used to pay trading fees for a discount but is also now an accepted currency by many cryptocurrency-friendly vendors. It’s the third largest crypto coin, excluding the stablecoins USDT and USDC.
After steep declines in early June from around $325, BNB bottomed in mid-June at about $188. Since then, it’s been on a steady uptrend, defying some range-bound tokens we’ve seen over the summer. Following a rally in crypto prices, BNB got back up to the highs preceding June’s crash, peaking at $336 before tumbling back down in recent days.
Investors unlucky enough to buy in at the peak would’ve been down 19% as of the 19th of August, to $272. However, since then, BNB has staged a slight recovery up to $300, where further volatility is expected. All in all, it’s been a tough week for crypto traders in general, but it’s been particularly tricky to navigate for traders of BNB.
Chronoly.io (CRNO) has only seen prices appreciate
Lacking the volatility that BNB has seen recently, Chronoly.io (CRNO) has been doing fantastically over the past few months. It’s up 560% from its May price of $0.01. A succession of price rises has followed, escalating from $0.05 to $0.06, now at $0.066, with prices expected to climb higher very soon,
Chronoly.io is an innovative project looking to shake up the luxury watch market. Luxury watches have been a well-kept secret by the rich and wealthy for years, favored for their resilience to inflation, interest rates, and bear markets. Now, Chronoly.io wants to bring watch investment to the masses.
They’ve created a decentralized marketplace for trading in shares of fractional NFTs that are backed by genuine watches - and you can get your piece of the pie for as little as $10. These watches are held in secure bank vaults across the globe and can even be redeemed once you own 100% of the NFT.
The Chronoly.io (CRNO) token is what keeps the marketplace alive. It can be staked, validating transactions and giving you a passive income in return. It’s also used for heavily discounted buying and selling fees, and tokens act as entrants to a prize draw to win a luxury watch every month!
Currently in phase 3 presale, Chronoly.io’s (CRNO) price seems to only go up. By the time presale ends in late September, many have projected prices of $0.50-$0.75 in just over a month as investors flood into the project, realizing Chronoly.io (CRNO) potential to disrupt the luxury watch market in the coming years.