Stocks

Chrono.tech (TIME) Crypto Takes Off After a Sizable Fundraise From Mark Carnegie

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

There’s a new crypto investors are paying attention to today. Chrono.tech (CCC:TIME-USD) is seeing the spotlight after closing out a lucrative fundraise. But as investors rush to add TIME crypto to their portfolios, there’s already a host of investors who have gotten quite the return on their holdings. What exactly is Chrono.tech, who is the investor who led its recent fundraise, and just how much has this under-the-radar token grown over recent months?

a digital graph overlayed over hands typing and a pile of crypto coins

Source: Shutterstock

Chrono.tech isn’t the largest project. Even with a market capitalization of $221 million, TIME is surpassed in size by 191 other cryptos. However, it’s steadily raising its cap by offering a unique project to the blockchain industry. See, Chrono.tech focuses on bridging gaps between employers, employees and contractors through blockchain.

The Chrono.tech ecosystem essentially functions to streamline the job hunting process, both for those looking for work and those looking to hire. One can think of the network as a decentralized LinkedIn; users create profiles, search the network for jobs and reach out to potential employers using data stored on the blockchain.

It also changes the way freelancers can think about searching for contracts. That’s because, in addition to the networking opportunities offered by Chrono.tech, the network also accommodates on-chain payments between employers and contractors. The network fuels these payments with the TIME token. But, if that doesn’t sound appealing, it also hosts its own exchange called TimeX. Using TimeX, one can receive their payment and have it converted to whatever other coin or fiat they might want.

TIME Crypto Gets a Boost After $30 Million Fundraise

Chrono.tech is quickly becoming one of the biggest projects out of Australia, and its news today evidences that. The TIME crypto is seeing a big gain on top of word that Australian venture capitalist Mark Carnegie is making a big bet on the platform.

As the company reports, Carnegie is the leader of a $30 million fundraise for Chrono.tech. The investment comes through Carnegie’s MH Carnegie & Co. firm. The project says the funds will be used to continue scaling up the network’s capabilities and bulking out its existing offerings.

As the news makes waves across the industry, investors are beginning to swarm the TIME crypto. Indeed, the $2.9 million in TIME exchanging hands today represents a 240% gain on yesterday’s volume. It’s also pushing the token’s value up a great bit; a 12% increase in TIME prices sees the crypto trading at $312.24.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

The post Chrono.tech (TIME) Crypto Takes Off After a Sizable Fundraise From Mark Carnegie appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Stocks Videos

This Week's Stock Gains Stem From a Shift to Defensives Rather Than a Full Risk-on Rally

Jun 24, 2022

InvestorPlace

InvestorPlace is one of America’s largest, longest-standing independent financial research firms. Started over 40 years ago by a business visionary named Tom Phillips, we publish detailed research and recommendations for self-directed investors, financial advisors and money managers.

Learn More