Chiliz Price Skyrockets, Will This Bullish Run Continue?

Chiliz has burst through to the limelight by helping entertainment and sports firms with blockchain-backed tools to allow them to monetize their viewership.

The subscription is the access link through which fans obtain voting rights and early tickets. Also, the direct access fans have to their desired soccer teams is a function of Chiliz blockchain technology and token.

Through the CHZ token, fans can easily access the Fan Tokens of their desired soccer teams. The CHZ token is the native digital currency of Chiliz. Fans purchase these tokens through a platform known as socios.com. Socios is a crowd management platform that functions as the powerhouse of the Chiliz experience.

Before now, fans access their favorite soccer clubs by getting merchandise and watching football matches. But with the Chiliz experience, these sports fanatics can connect to their desired teams in real-time. Additionally, fans now significantly influence their favorite clubs’ decision-making process.

Increased Trading Volume of Chiliz

Chiliz is one of the most significant digital currencies in the crypto market. This is a cause for surprise considering the present trend of the market.

Sentiments show a recent increase in the transactions of whales. The growth is similar to that achieved a few months back (March 29), when Chiliz hit its top price of $0.3008. However, that’s not the current price of the token. According to the on-chain tracker, this increase will likely continue for longer than expected.

#Chiliz has peppered its way into the top 40 #crypto assets by market cap and +150% price surge in the past 4 weeks. Whale transactions hit the highest network amount since March 29th. Even if whales are profit taking, the $CHZ rally could continue. https://t.co/94WHoTk9XE pic.twitter.com/3xz7FgSlMU

— Santiment (@santimentfeed) August 24, 2022

While the crypto market still rides along the red zone, Whalestats reports a surge in the trading volume of Chiliz. Chiliz has successfully secured a position among the first ten most traded digital currencies in the last 24 hours. The event has resulted in enormous profits for major whales, as per the reports.

This is particularly true, judging from the rate at which the digital token, Chiliz, has surged. Dating from last month, the token has appreciated more than 150%. Currently, CHZ trades at a price just above the $0.240 mark. The occurrence has given the cryptocurrency a place among the top 40 digital currencies in the crypto market.

Chiliz price holds firm on the chart l CHZUSDT on TradingView.com

Meanwhile, the market cap of the Chiliz token is about $1.45 billion. According to MarketWatch, the token’s trading volume has surged by 23% in the last 24 hours, bringing it to $9,047 million

The price of Chiliz, dating from three days back, has surged to 25%. Before now, the token has been hovering around the $0.25 price mark.

But according to Bitpanda pro data, the whales’ efforts have led the cryptocurrency past that mark. Moreover, since June 18 this year, the appreciation in CHZ price has also resulted in the rise of fan tokens.

Featured image from Pixabay, chart from TradingView.com

Text source: NewsBTC

Crypto