Bear Market Rising Star (CRNO) increases 690%, Bitcoin (BTC) and Wrapped Bitcoin (WBTC) Continue Downward Spiral – The Portugal News

While the crypto
world still grapples with the ongoing bear market, (CRNO), a newly launched project
that has nearly sold out in its presale stage, offered a ray of hope to crypto
investors. (CRNO) Value Increased by 690% in Presale Stage

The (CRNO)
project, launched in May 2022, has nearly sold out in its presale stage. During
the same time, the CRNO token price increased from $0.01 to $0.079 due to investor enthusiasm. (CRNO)
is a luxury watch NFT platform, backed by real
world timepieces
from brands like Rolex, Richard Mille, Patek Philippe,
amongst many others. Due to its unique
business model
, CRNO witnessed a growth of 690% in its presale stage. (CRNO) is now close to its
predicted growth of 5,000%. Top
market analysts predict that CRNO can be the next 1000x token. (CRNO) enables traders to dabble
in the luxury watch space by purchasing a fraction of the luxury watch NFT, for
as low as $10. Traders can even purchase 100% of the NFT and redeem the
timepiece from’s
secured vaults.
Each of these timepieces is passed through stringent
quality checks
, thus, traders can be assured of the authenticity of the watches. Future plans for (CRNO)
include launching “Chronoverse,” as a rival to the metaverse, and getting CRNO
listed on major crypto exchanges.

Bitcoin (BTC) Continues Falling in Value

Bitcoin (BTC) is one
of the top performing cryptocurrencies by market cap. However, the 2022 “crypto
winter” has not been easy on this coin. Rising inflation, increasing interest
rates, and a reduction in market liquidity are the primary reasons for the fall
in Bitcoin (BTC) value. After a data report released recently showed that U.S. inflation
rose more than expected in August 2022, the crypto market took yet another hit.
Traders are expecting the Federal Reserve to continue to tighten financial
conditions, which could negatively impact crypto trading conditions in 2022.

Bitcoin (BTC) tumbled
more than 50% this year. The two major reasons for this are:

traders selling off their
risk-sensitive bitcoin assets (investments that experience a high volatility
based on market conditions and are not backed by real world assets), and

crypto lender Celsius freezing
customer withdrawals and transfers, thereby sparking rumors of a market

The current Bitcoin
(BTC) price, $19,260.765, is 70.55% below its all time high of $68,789.63.

Wrapped Bitcoin (WBTC) Fails to Stabilize

Wrapped Bitcoin (WBTC)
is an ERC-20 token that was introduced to overcome interoperability issues
faced between various blockchain technologies. Wrapped cryptocurrencies allow
crypto assets to be used on non-native blockchains. For instance, bitcoin in
its wrapped form, i.e. Wrapped Bitcoin (WBTC), can interact with Ethereum’s
ecosystem of dApps and smart contracts. Without wrapped bitcoin (WBTC), this
process may have encountered several difficulties due to the structural
differences between the Ethereum and Bitcoin networks. Wrapped Bitcoin (WBTC)
has the same value as 1 BTC. The current price of wrapped bitcoin (WBTC),
$19,122.48, is 87.44% below its all-time high of $162,188.26.