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Investors nowadays are spoilt for choice when it comes to finding a hot new cryptocurrency or NFT project and finding the next 50x project in the early stages is quite difficult. Nevertheless, analysts are talking about a new utility token, called Chronoly.io which launched its presale last month and is already up 400%.
The Chronoly CRNO token has all the fundamentals of a successful coin but, for investors the question is can it be as successful as, say, Binance Coin (BNB) and Cardano (ADA)? We think so and this is why.
Binance Coin (BNB) may be on the verge of an upswing
The price of Binance Coin (BNB) appears to be one of the few cryptocurrencies that is deviating from the norm. Within the rally, the Binance Coin (BNB) price has been going upwards, printing modest bullish candlesticks. The bearish candles that put BNB into a slump towards USD 217 are not comparable to or greater than the small-bodied candles. This could be the first sign that the current BNB upswing is hurting investors behind the scenes.
At USD 327, the Binance Coin price is currently ascending inside a parallel channel. The entire increase since May 19th at USD 290 will be seen as a corrective rally if the bulls are unable to establish bullish price action above the channel. If intraday traders get hold of the bearish momentum, the bears may aim to push the BNB price back to the origin point of the trend channel, and possibly further into USD 270 and USD 250.
Cardano (ADA) is still one of the big boys
The price of Cardano (ADA) will likely fall in the first two weeks of June, according to the GB Market Analysis Software. When the price of ADA reaches USD 0.55, it will be a confirmation that the signal is working. This is also the trade’s recognized price entry. The current ADA/USDT support levels are USD 0.55 (first support level), USD 0.52 (second support level), and USD 0.51 (third support level).
According to CoinMarketCap, Cardano (ADA) is the sixth-largest cryptocurrency by market capitalization. Cardano (ADA) lost 12.46 % in the last 24 hours, bringing its price to USD 0.47. This values the company’s entire market capitalization at roughly USD 15 billion.
Chronoly (CRNO) coming up on the rails
Chronoly.io has attracted a lot of investors in the last couple of weeks after starting its presale. The unique concept of buying fractions of luxury watches is gaining a lot of attention. Over 140 million tokens have been sold so far, and the number of buyers is growing daily.
The Chronoly (CRNO) oracle will be launched in phase 4 of the company’s strategy, allowing anyone to validate a watch’s legitimacy on the blockchain and link with metaverse and other third-party web3 games, according to the development team. Chronoly.io has a number of projections in place, and if they are met, it will be among the most robust crypto projects of late.
The Chronoly CRNO tokens are presently trading for USD 0.05 in the first round of their presale. After the second part of the presale, experts expect a price increase of at least 3000%. Pricing in presale is dynamic, which means that the more investors buy in the higher the price will rise. So, could Chronoly (CRNO) be as successful as Binance Coin and Cardano? All the signs point to an unequivocal “yes”.