New investors in the cryptocurrency space must understand the different sectors of investment and the drivers of price gains. Axie Infinity (AXS) was one of the best coins in 2021 because it operated in one of the most popular sectors in ‘play-to-earn’ also known as P2E. By dedicating time to a blockchain game, users were able to earn rewards with real-world value to trade with other players. KuCoin (KCS) managed to shrug off the recent downturn in the crypto market because it is a trading exchange with millions of users.
The project has seen a large growth in new users at the start of 2021 and that supported the price action. A new project is Chronoly.io which wants to bring luxury watch investing into the blockchain world. The CRNO token has grown from $0.01 to $0.066 in only the presale stage and analysts expect big things.
Axie Infinity (AXS) Can Capitalise on its User Base
Axie Infinity (AXS) was one of the stars of the cryptocurrency market last year as the coin tapped into the excitement for the play-to-earn model. The project released the Axie Infinity blockchain game and the project took off with 2.8 million daily users still on the books. The price of AXS soared from $0.15 to $160 in 2021 but that was the late-November crypto market peak and the coin has since slumped to $14.45 at the time of writing. Despite the bearishness, the project can still build on its user base and after being occupied by Axie last year there is potential for a new release in the future. A revival in the NFT market would help Axie but it has also been hurt by the arrival of the metaverse which will challenge play-to-earn for user playing time.
KuCoin (KCS) Avoided the Worst of the Market Rout
KuCoin (KCS) was one of the better performers in the recent cryptocurrency market with the coin’s price only dropping from highs of $27 to a price of $9.25 now. KuCoin (KCS) is a trading platform and over the last week, it reported that it had gained 6 million new users in the first three months of the year. That was a 500% improvement with Asian investors being the biggest driver of gains. Trading volume also crossed $1 trillion, with an average daily volume of $11 billion. That stellar performance should continue to prop up the price of KCS in the coming months.
Chronoly.io Has Newcomer and Niche Potential
The Chronoly.io project has the potential to reward investors in the same way that Axie Infinity (AXS) did because it is tapping into an area of the market that has no competition. It also has the potential to hold its value in market downturns because the project is backed by the luxury watch market which has been an appreciating investment for decades. Chronoly creates NFT versions of the watches that it holds in safe storage vaults and investors can buy fractions as little as $10. Each NFT sold on the Chronoly marketplace will be a digital representation of the luxury watch where the price is backed against the physical asset.The Chronoly team plans to debut in the metaverse after its official release, this would make it possible for NFT owners to wear their watch in the digital world on their avatars wrist.
Chronoly’s ecosystem is based around a decentralised trading platform that will mimic the features of a crypto exchange with historical and real-time prices and the opportunity to set orders for passive investing. Analysts believe this project will increase by over 7,000% and investors should move early. Since the start of its presale the CRNO token has gone from $0.01 to $0.066 – giving early investors a 560% rise. Being a world’s first unique concept Chronoly is likely to beat some of the top cryptos.
Find out more and how to enter the presale below