Can Hedera (HBAR), Stacks (STX) and Chronoly (CRNO) Price Bounce From These Levels?
Investing is not easy. It requires hard work, dedication and, often, nerves of steel. This is the truth of investing in cryptocurrency because you need to do your research. This is doubly true for times like this when the entire market is in serious turmoil and even Bitcoin has been mauled by the bears. If you want to be in the cryptocurrency market, or you’re already in and want to ride out the storm, then here are three coins that could potentially bounce back from the recent market crash: Hedera (HBAR), Stacks (STX) and Chronoly.io which is already up 400% during its presale.
Hedera (HBAR) offers very low transaction fees and energy efficiency
Hedera is the most used, sustainable, enterprise-grade public network for decentralized finance (DeFi). The platform lets investors and corporations build decentralized apps (DApps). Hedera can process 10,000 transactions per second, according to its whitepaper (TPS). Bitcoin (3tps) and Ethereum 1.0 (12tps) have far lower TPS.
Hedera’s average transaction fee is $0.0001, which investors love. Bitcoin and Ethereum can’t keep gas costs down. The platform gives investors similar features to Bitcoin and Ethereum, but with improved features and speed. Hedera’s utility token, HBAR, is an energy-efficient cryptocurrency.
Stacks (STX) is climbing back up after a nasty fall
With a 24-hour trading volume of $13,267,997 USD, today’s Stacks price is $0.3949 USD. Trading volumes have climbed over the last day, and the altcoin’s Volume to Market Cap Ratio is now 0.02609.
The adverse mood weighed heavily on Stacks Price, contributing to significant selling pressure in the crypto asset in recent days. The bulls, on the other hand, have re-entered the fray, as evidenced by today’s price movement. Although the STX Price has climbed above the 20,50 SMA on the four-hour chart, bears are still hanging large around the altcoin. If the rally continues, the Stacks will most certainly run into resistance near $0.60, giving the bulls a big lift. On the other hand, in the event that the bears stage a comeback, the asset’s support is established at $0.45.
Chronoly (CRNO) is going places fast
Chronoly.io is a blockchain based marketplace for fractional ownership, trading and authentication of luxury watches from brands such as Rolex and Patek Philippe. Chronoly.io aims to democratize luxury watch ownership and offer price transparency and market liquidity to an usually opache and illiquid asset class. If executed correctly industry insiders predict that the Chronoly.io project could disrupt the $64bn watch market and kick start a trend in the crypto market which is real-world utility tokens.
How the Chronoly marketplace works is simple, each NFT on the Chronoly.io marketplace is asset-backed by a real version of the watch, which is held in a depositary vault. All of the watch’s ownership history and authenticity details can be checked and verified by anyone on the blockchain. Users have the option to trade small fractions of the NFTs from as little as $10 or own 100% of the NFT and redeem the physical watch whenever they like.
CRNO is the native token that powers the Chronoly decentralised marketplace and has enjoyed a successful start to its presale, which started in May 2022. At the time of writing, the price of the CRNO token is $0.05 up 400% from it’s starting price of $0.01 and with the current bear market upon us, could asset-backed tokens with real-world utility be the next big trend to push us into a bull market? This remains to be seen.