Cryptocurrencies are trading at rock bottom prices at the moment and traders are keen to know which projects they should embrace in the current environment. Dogecoin (DOGE) and Enjin Coin (ENJ) were big winners in 2021, but both have seen their outlook worsen. Dogecoin may get a boost from an Elon Musk Twitter deal but there is no certainty. Enjin Coin has its own unique ecosystem with SDKs and may be the better near-term option. A new project in Chronoly could outperform both coins and has already rewarded early investors with a 400% jump this month.
Dogecoin (DOGE) – In Need of New Ideas
Dogecoin (DOGE) has seen its value crash from highs near $0.70 to a price of $0.066 (at the time of writing) in the recent bear market and the seemingly inevitable rise to $1.00 last year has stumbled badly. The reality is that Dogecoin and its developers are out of ideas and there is no game-changing use case emerging for the project. The Elon Musk Twitter deal hangs in the balance so that has potential with DOGE as a Tweet reward coin but until there are real developments there then DOGE is a risk.
Enjin (ENJ) Embracing the NFT World
Enjin Coin (ENJ) has a focus on gaming products and hosts its own play-to-earn game on the platform. 2021 was a huge year for Enjin Coin with a move from around $0.01 to highs above $4.5. Traders started to embrace other development options when the arrival of DeFi platforms started to create congestion on the Ethereum (ETH) network. Enjin has embraced the world of gaming with software development kits (SDKs) which allow users to create their own gaming assets and import them to apps and games. The SDKs have the potential to be even more valuable when NFTs fulfill their real potential in other areas and that will create demand for Enjin Coin.
Chronoly (CRNO) Can Stay in its Lane for Gains
Chronoly’s decentralized marketplace mints NFTs that are 100% backed by real watches from luxury watch brands such as Richard Mille or Rolex and allows fractional investment in certified and verified watches. A jump from $0.01 to $0.05 in the coin presale could just be the start for CRNO. Chronoly (CRNO) is likely to see big gains from growth within its ecosystem and those gains would be less volatile than the other two projects mentioned. Chronoly’s NFTs would be backed by real assets and this will support the price of CRNO coins as more NFTs are minted and more investors start using the project. The Chronoly project will even add elements of DeFi to its project with a lending protocol where investors can lend out their NFTs to other investors and stake their CRNO tokens for a monthly income. Users can then retrieve their watches by collecting 100% of the outstanding NFTs.
The project’s innovative combination of real-world assets and non-fungible tokens has attracted many crypto traders. In Phase 1 of the presale, over 2,250 investors have snapped up around 190 million tokens. This is why many market watchers believe that Chronoly (CRNO) could easily surpass its $0.50 price target by July 27, 2022.
Watch investors will love the transparency in this project because it solves many problems in that opaque market. The watch investor usually had to use third-party intermediaries and pricing was not always reliable and built solely on trust. Chronoly’s trading platform will have real-time and historical pricing, while NFTs will keep track of sales on the blockchain to verify that data. With added liquidity in the watch market, it is easy to see how this project can take off.
More Information on the Presale Here:
Website: https://chronoly.io/
Presale: https://presale.chronoly.io/register
Telegram: https://t.me/Chronolyio
Twitter: https://twitter.com/Chronolyio
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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