The ever-evolving and high liquidity crypto market is home to a wide range of competent and promising projects. Three of such projects like PancakeSwap (CAKE), Synthetix (SNX), and Chronoly.io (CRNO) will change the narrative in any investor’s portfolio.
PancakeSwap, with native token CAKE, is making waves in DeFi and incentivizing users with massive rewards. Synthetix (SNX), a popular layer-2 scaling solution, is collaborating with bigwigs in the industry to allow crypto users to easily convert synths such as sETH to Ether (ETH). Chronoly (CRNO), on the other hand, is driving massive change in the way and manner people invest in NFTs of rare luxury watches.
As these three tokens experience price appreciation, experts believe that if the projects sustain the tempo, their prices are likely to surge further.
Chronoly (CRNO) Speeds Up Its Bullish Run
These are exciting times for Chronoly.io investors, as the project speeds up its bullish run. At a time when the global crypto market is experiencing massive shake offs, Chronoly (CRNO) has shown potential to continue to grow. With the CRNO token rallying over 600% during its current pre-sale, experts classified it as a serious challenger to projects like Bitcoin and Ethereum.
Chronoly.io is the world’s first fractional watch investment marketplace. Its revolutionary features and price potential make Chronoly an excellent addition to any crypto holding. Chronoly’s focus is to bridge the gap between the real world and the virtual world of NFTs by tokenizing physical luxury watches, which are authenticated and co-owned on the blockchain. Each NFT Chronoly mint is backed by a physical version of the watch which is stored in their vault.
Chronoly (CRNO) allows users to trade small fractions of watches, borrow against their NFTs, and stake their CRNO tokens to earn passive income. As the project expands, the team plans to partner with various video games and metaverses to enable users to showcase their watch collection in the marketplace.
PancakeSwap (CAKE) Aims to Reduce CAKE Supply and Increase Farming Rewards
The team at PancakeSwap (CAKE) is proposing a supply cap that will enhance its token utility alongside new features. The proposal, which received overwhelming votes from stakeholders and other users across the network, suggests that a total supply of 750 million CAKE tokens will further stabilize the token and encourage more investors to jump on the bandwagon.
The current circulating supply of the CAKE token stands at around 295 million. Within the next three to four years, the proposed cap is expected to increase this figure. According to the project’s roadmap, the team plans to add value to the Pancake staking system, which will see the introduction of vCAKE, bCAKE and iCAKE to scale up governance voting capabilities, boost initial farm offering benefits, and increase farming rewards.
With the addition of these functionalities, the team intends to give users the leverage to stake more CAKE tokens so that there would be a reduction effect in the token circulating supply. As of the time of writing this post, CAKE trades at $3.08 with a 24-hour trading volume of $50,214,974 USD.
Synthetix (SNX) token value surges to 100% as Bitcoin rallies around $21,700
Synthetix (SNX) is also enjoying price appreciation despite the crypto wind that has blown the prices of most of the popular tokens downwards. Synthetix (SNX) is a decentralized finance protocol that’s designed to provide on-chain exposure to both digital and non-digital assets. The price of SNX has rallied over 100% recently despite its slow startup pace.
The recent collaboration between Synthetix (SNX) and Curve Finance, a liquidity provider, is meant to provide curve pools for sUSD/3CRV, sBTC/BTC, and sETH/ETH, giving investors the leverage to easily convert synths such as sETH to Ether (ETH). Its token surge has been attributed to the partnership with Curve Finance and the positive sentiments surrounding the pact.
While there are about 20 million Synthetix (SNX) tokens in circulation, if the developmental team continues to innovate and expand its systems, the token price can reach a threshold of $10 in the coming months. Synthetix (SNX) is ranked number 97 with a 24-hour trading volume of $61,985,868 USD. It trades at $2.62 at the moment.