A pseudonymous individual who goes by the name “Ryoshi” designed the Shiba Inu coin in August 2020. No-one seems to know the real identity of the creator, the same situation as with Bitcoin founder, Satoshi Nakamoto. Ryoshi could be a team or a company, not just a single person. The Shiba Inu Coin has enjoyed a lot of publicity and for a variety of reasons, yet its market value remains quite low. The coin is certainly getting some attention from the crypto market but we have noticed that Shiba Inu holders keep investing in Chronoly (CRNO).

Shiba Inu (SHIB) lacks a compelling use case

We must keep in mind that the entire cryptocurrency market is down across the board but abrupt decreases in Shiba Inu prices are largely due to panic selling by holders. Even a tiny price drop might cause panic selling because people are fearful of losing money, but holding and purchasing the dip appears to be the best option. The Shiba Inu project’s greatest problem is its utility or, rather, lack of. The Shiba token grew because of excitement rather than anything about the use cases. As a result, as the hype began to fade, the price began to fall and has been falling ever since. The Shiba team is already developing products for its ecosystem, but progress has been slow.

Will Shiba Inu prices continue to fall? Expert opinion seems to be divided. Some are impressed by the fact that the Ryoshi team is trying to come up with other valuable products. Still, others say there is no way to make up for SHIB’s fundamentally weak use case. Shiba Inu’s slide is likely to continue, and while the future cannot be predicted, Shiba Inu’s weak fundamentals and concentrated ownership make it a high-risk asset. And the token’s value is expected to continue falling in 2022.

Chronoly (CRNO) is pulling in the crowds

Chronoly.io’s utility token, CRNO, is a blockchain-based marketplace for investing in rare and exclusive luxury investment grade watches, such as models by companies like Rolex, Patek Phillippe, Richard Mille, and Audemars Piguet. Chronoly has managed to combine the trick of producing an asset-backed crypto token with making it possible for even people of modest means to invest in high-end watches.

Chronoly.io is one of the few decentralized NFT marketplaces backed by real world assets. Chronoly backs up each NFT with a luxury and rare watch. Because of the fractional nature of these NFTs, investors can buy a little stake in a rare luxury watch from as little as $10. Owners of Chronoly’s asset-backed NFTs can use their holdings to trade or lend in secondary markets.

As of the second stage of the presale, the price of Chronoly has already jumped by 500%. CRNO was made available on May 5th for a starting price of $0.01 at the start of presale; phase one, this price has increased to $0.06. Staking CRNO tokens on the Chronoly marketplace can create a passive income for holders between 15-20 percent a year. Something you would be unable to get from a real world bank. Furthermore, the platform intends to hold a monthly lottery in which three lucky winners will each receive a prize. First place is a luxury watch and monetary awards in USDT for finishing second and third. No wonder SHIB holders are making their way over to Chronoly. 

More information about the Chronoly project here:

Website: https://chronoly.io/ 

Presale: https://presale.chronoly.io/register 

Telegram: https://t.me/Chronolyio

Twitter: https://twitter.com/Chronolyio