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As Bitcoin (BTC) dipped below USD 33,000 for the first time in around a year this week, and Ethereum (ETH) and Cardano (ADA) also tumbled, the crypto market appears to be collapsing — or at least experiencing a severe correction. Given the old investment cliché “buy the dip,” investors may now be looking at a volatile crypto market expecting that this is a temporary downturn rather than a long-term bear market. If you believe now is the time to buy, here’s a look at prior patterns, some expert advice, and purchasing tips if you’re new to cryptocurrencies. Binance Coin (BNB), Polkadot (DOT), and Chronoly (CRNO) are a few of the best options that investors can seek in a period of downwards movement.
Chronoly (CRNO) is a decentralised investment marketplace built on the Ethereum blockchain, and despite the recent downturn in the crypto market, Chronoly (CRNO) has experienced unprecedented interest in its current presale. Many industry experts expect the Chronoly token to increase in value by over 750% during the presale period as experienced investors have been changing their positions as they look to choose more stable tokens with real-world use cases after the UST collapse.
On the Chronoly ecosystem, users can buy, sell and invest in NFTs that are linked to luxury watches. Each NFT that is minted on Chronoly’s marketplace is backed by a physical version of the watch, which is held in a vault and fractionalized, making it easy for anyone to own part of a luxury watch like a Rolex from as little as USD 10. This clever application of luxury watches, NFTs, and blockchain technology could disrupt the USD 64bn watch market as all of the physical watches’ serial numbers, certificate details, and ownership history are stored in the metadata of the NFT, thus allowing anyone to authenticate pre-owned luxury watches on a multichain decentralized ledger
The Chronoly (CRNO) tokens are now in presale and trading at USD 0.02. Many crypto traders are bullish on the project’s unique utility of real-world assets and NFTs and the Chronoly token may easily surpass its price target of USD 0.50 by July 27th if the current momentum is anything to go by.
We must agree that this approach is a really clever way to keep traders returning to the platform, and Binance Coin functions similarly to a discount coupon. However, it is worth wondering how long this discount will be available. It might continue to decrease or perhaps halt in the future. In fact, according to their white paper, Binance intended to reduce this discount to 12.5 percent in 2019, although this has yet to materialise. Binance is thought to have kept the 25% discount because they want to stay popular and trustworthy among its traders.
Binance Coin (BNB) had its all-time high on May 10, 2021, which was USD 690.93. The crypto pundits believe it will touch the peak again in late 2022 or early 2023. The current price of Binance Coin (BNB) stood at USD 332 at the time of writing this article up 5.2% from the previous day
Polkadot (DOT) is an open-source blockchain technology developed by Switzerland’s Web3 Foundation, dedicated to creating an open-source, fully functional, and user-friendly decentralised web. The Polkadot has a market capitalization of USD 10.3Bn and is one of the top ten cryptocurrencies according to Coin Market Cap (CMC). Polkadot (DOT) cryptocurrency price outperforms rivals despite bearish Polkadot (DOT) price predictions and Polkadot (DOT) technical analysis from various specialists.
The price of DOT rose by up to 12% in the first week of May as the platform resolved its hacking issue. As of Q1 2022, Polkadot (DOT) reported that over 130 million DOT had already been locked in the parachains. Polkadot (DOT) has launched a cross-chain messaging technology to solve its blockchain’s bridge problem.
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