Chiliz (CHZ) Could Be Set For A Hot Streak With This Data
September 18 2022 - 4:18AM
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Chiliz (CHZ) is a blockchain technology company that aims to
tokenize the sports and entertainment space. CHZ displaying
enormous traction and uptick despite a bearish market Chiliz
partners with giant sports organizations and teams CHZ price spikes
by 6.21% as of press time Chiliz has ramped up on major
developments and partnerships with giant sports organizations and
teams all over the world. According to CoinMarketCap, CHZ’s price
has soared by 6.21% or trading at $0.2161 as of this writing.
Related Reading: XRP Sluggish In Last 7 Days As Ripple Vs. SEC Case
Drags On CHZ Collaborates With Sports Clubs CHZ has shown a massive
price spike last month following Chiliz’s partnership with FC
Barcelona, a well-famed Spanish football club. The token was seen
to climb by 73% on August 18, showcasing a four-month high. This
recent price spike anchored the token to outperform major cryptos
like Bitcoin and Ethereum. Basically, Chiliz is an open platform
that allows a variety of sports organizations to mint limited
tradeable fan tokens that provide their fans exclusive membership
benefits and perks, access to NFTs, voting rights, and merchandise
rewards. Chiliz has expanded its network with football clubs and
organizations including FC Barcelona, Paris-Saint Germain,
Manchester City, and Atlético de Madrid. Sports teams partner up
with Chiliz for brand awareness and marketing plus also provide
fans with modern and immersive experiences. CHZ Joining The Ranks
Of Top Performing Crypto Chiliz is currently the 47th largest
crypto in terms of market cap at $1,293 billion as of this writing.
CHZ has currently joined the bandwagon of the top-performing
cryptos over the weekend. So far, the coin was able to spike by
9.2% in the past 24 hours. This might be a minimal spike compared
to the performance of other coins but at this point, the
performance of CHZ is extraordinary considering the bearish market.
CHZ recently announced on September 15 their plans to roll out a
new fan token which has encouraged more investors to buy and trade
the coin. Technical factors also contributed to CHZ’s uptrend. The
crypto has been extremely bearish as it experienced a correction
dropping from $0.24 to hitting a weekly low of $0.164. The RSI of
CHZ is shooting above 50 implying a strong buying pressure. The
performance of Chiliz the past week is comparably lower in
comparison to the previous key support zone retested a week
earlier. Related Reading: AVAX Price Rebound Fails To Breach $22
Resistance Due To High CPI Data CHZ total market cap at $1.4
billion on the daily chart | Source: TradingView.com Featured image
from DailyCoin, Chart: TradingView.com (The analysis represents the
author's personal views and should not be construed as investment
advice).
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