Price Prediction: Safemoon (SFM), Solana (SOL) and Chronoly.io

Cryptocurrency markets are facing turbulent times. The global cryptocurrency market cap has shrunk below $1 trillion as investors are not only staying away from risky assets but also selling such holdings fast. It is becoming clear that cryptos backed by real-world assets or having some use cases are more likely to thrive in the long run. This explains why Chronoly (CRNO), a new token is up 400% already, despite being in presale.

The first wave of recent crashes came last month when TerraUSD, an algorithmic stable coin, lost its peg against the US dollar. The second wave of the crash started this month due to several factors, including an increased fear of an economic recession. Amid the turbulence, let's take a look at Chronoly (CRNO), Solana (SOL), and SafeMoon (SFM).

Why Chronoly is primed to succeed?

CRNO is the utility token of Chronoly.io, a blockchain-powered marketplace for making a fractional investment in rare luxury watches like Rolex, Patek Philippe, Richard Mille, and Audemars Piguet. The Chronoly ecosystem offers some unique features that could push the CRNO price higher soon.

Chronoly.io is one of the few decentralised NFT marketplaces backed by actual assets. Chronoly mints NFTs, each of which is backed by a real physical version of the watch. These NFTs are broken into fractions, allowing investors to own a part of a rare luxury watch for as little as $10. The owners of Chronoly's watch-backed NFTs can use their holdings as proof of ownership and trade or lend in secondary markets.

Currently, in the second phase of the presale, Chronoly price has already jumped 400%. CRNO was offered in the first phase of presale at an initial price tag of $0.01, which has now gone up to $0.05. Moreover, out of the total supply of 175 million CRNO tokens for second phase of presale, nearly 22 million have already been sold.

Chronoly marketplace provides a staking facility where users can earn a passive income for their CRNO tokens. Besides, the platform has proposed to run a lottery every month where three lucky winners will get a watch for coming first, while the second and third winners will win cash prizes in USDT.

Will Solana (SOL) price rise?

SOL, Solana blockchain's native token, is a popular cryptocurrency often referred to as the "Ethereum killer". The seven-day price chart of Solana on CoinMarketCap shows a 32% fall in its price to $35. SOL coin had touched its all-time-high (ATH) price point of $260 on November 6, 2021.

Solana packs some unique use cases in a rapidly evolving blockchain space. It can handle transactions at a much faster pace than Ethereum and power NFTs, DeFi applications and smart contracts.

Though the numbers show that SOL is nearly 90% down from ATH, its price is expected to jump when crypto markets start recovering again. The growing correlation of crypto markets with traditional financial markets is also another reason to believe so.

Financial markets undergo cyclic downturns and upturns. Currently, it is falling but won't remain the same forever. Markets will start recovering after softening of inflation and fundamentally-sound cryptocurrencies might rise again.

Is Safemoon (SFM) a safe bet?

Rapid price fluctuation is endemic to all popular cryptocurrencies, including Bitcoin and Ethereum. SafeMoon (SFM), which is a relatively new coin, is pitched to avoid such fluctuation. To do this, SFM developers discourage day trading by rewarding long-term holders and charging a 10% fee on each sale.

Launched in March 2021, SFM has a community of over 2 million investors.

SFM had touched an all-time high of $0.0033 on January 5 this year and an all-time low of 0.000268 on March 24, 2022. Despite the ongoing cryptocurrency market crash, SafeMoon has recovered nearly 55% from its all-time low, currently trading at 0.0005214, according to data on CoinGecko at the time of writing.

SafeMoon has opted for manual burns, which gives the project more control over the coin's supply. This coin-burning strategy makes SafeMoon a deflationary cryptocurrency, which is also likely to soar its price up when crypto markets start recovering.

More information about the Chronoly.io presale:

Website: https://chronoly.io/

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

Telegram: https://t.me/Chronolyio

Twitter: https://twitter.com/Chronolyio