Chronoly.io (CRNO) token attracts investors attention, Terra (LUNA) fails to get out of collapse
As the world of crypto deals with the fallout from the Terra (LUNA) crash of May 2022, hopeful investors have been looking for a recovery in LUNA, with some still holding on after a dramatic correction. This attempt seems to be in vain, as LUNA has seen another fall that could spell the start of a further decline.
We’ll look at what’s happening to LUNA in August before comparing its trend to Chronoly.io.
id=”h20″>Terra (LUNA) sees further downside
Back in May 2022, $55 billion fell off the face of the earth as LUNA collapsed due to a glitch in its software. Terra (LUNA) used a stablecoin, UST, to power its ecosystem. Unlike USDC or USDT, which are backed by reserves to keep it pegged with the US dollar, UST was pegged algorithmically. But the algorithm featured a damning bug that caused UST to lose its peg, a move that couldn’t be rectified. As a result, Terra (LUNA) plummeted from $120 to $0.02 in a little over a month.
Now, as investors aiming to buy the bottom and holders from previous highs hope for a recovery, it seems like another fatal blow has been dealt to Terra (LUNA). As cryptocurrencies retraced in the third week of August, it looks like Terra (LUNA) is forming new lows and lower highs amid substantial volatility.
LUNA/USDT peaked at $2.60 on the 1st of August before hitting lows of $1.52 on the 19th. This has put LUNA’s price below the low of $1.61 formed on 26th July. Now, as prices make a slight recovery, it’s likely that we’ll see further downside in the price of Terra (LUNA).
id=”h31″>Chronoly.io (CRNO) pre-sale is up and running
There is one token that’s doing much, much better than Terra (LUNA), however, and it’s causing investors to consider buying after examining the fundamentals. This token is called Chronoly.io (CRNO) and is a real-world utility token that’s looking to bring the world of luxury watches to the masses – and it’s already up 690%.
Using the power of fractional NFTs, Chronoly.io has minted a collection of NFTs backed by real luxury watches from some of the world’s biggest brands, like Rolex, Richard Mille, and Audemars Piguet. No longer are they investment vehicles of the rich and wealthy: you can now invest in these timepieces for as little as $10. If you eventually own the NFT, you can even trade it in for the real thing that’s waiting for you in a secure vault.
Chronoly.io decentralized marketplace uses the CRNO token to make transactions. Trades made in Chronoly.io (CRNO) receive a discount, and holders can stake their tokens for a passive income of 10%+. Holding Chronoly.io (CRNO) also means you are entered into a monthly prize draw to win an actual luxury watch!
For more information about Chronoly.io presale