Chiliz [CHZ] Is Up 5.21% in the last 24 hours, Outperforming the Crypto Market

Updated: 11 January 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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During the initial fan token offering (FTO), each sporting organization using Chiliz technology offers limited fan tokens. They distribute the tokens on a first-come, first-served basis, with Chiliz disclosing the opening price and thoroughly diluting the market cap in advance.

The native CHZ token provides the platform with its internal currency and allows users to buy fan tokens. Fans can purchase Fan Tokens from FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, and Atlético de Madrid.

We have provided you with the Chiliz price predictions for the hourly, daily, weekly, and monthly time frames. Our goal is to show you what Chiliz will be worth in an hour today, tomorrow, the next week, and the next month.

What Is the Price of CHZ?

Today, Chiliz’s price is at $0.118092 and ranks #50 in the top 100 cryptocurrencies. With a current market capitalization of $783,771,865, Chiliz has a supply of 6,649,111,577.

TradingView — Chiliz [CHZ] 24hr Price Indicator

As per a WhaleStats tweet from 10 January, Chiliz [CHZ] remained in the top 10 token purchases among the 500 giant Ethereum whales.

CHZ’s price increased nearly 20% in the past week, and whales seem to trust CHZ. Despite its long way to go, the results may start showing. CoinMarketCap shows CHZ has gained 7% over the last 24 hours, with a market capitalization of over $815 million, it traded at $0.1226 at the time of writing.

The Chiliz price for January 2023 may reach a maximum price of $0.093303 and a minimum price of $0.066139 based on our advanced price prediction algorithm. There is a possibility that CHZ may see an average price of $0.087398 in January.

Is the New Year Going Well For Chiliz’s?

Chiliz’s metrics performance has also been promising since the beginning of this year, which has fueled the current pump. For example, CHZ demand in the derivatives market remained steady because of its relatively high Binance funding rate. Moreover, CHZ’s exchange outflow spiked last week, which is a bullish sign.

The velocity of CHZ also increased, raising the odds of a prolonged surge. But it appears the top investors are exiting CHZ even though it is one of the most purchased tokens among whales.

Chiliz [CHZ] Pump: Why is it Happening?

As part of a yearly recap, Chiliz recently posted a tweet outlining all the notable updates during 2022. Several developments may have influenced the current price pump in the Chiliz ecosystem. The launch of Chiliz Scoville Testnet—the public testnet for Chiliz Chain 2.0—, was one of the most critical updates. After the announcement, In March 2022, the testnet development has advanced significantly.

Chiliz Development — Chiliz 2022 Development Roadmap

The first five phases of the Scoville Testnet have already been launched and tested, and Chiliz will announce the last phase in 2023. The testnet has processed over 9.8 million transactions and 385,000 wallets.

Chiliz: What You Can Expect

Fan tokens are the key to Chiliz’s business strategy and vision. As a fan community-building company, Chiliz sees cryptocurrencies and NFTs as key enablers for its primary business. With this focus, Chiliz has attracted investors and moderated the volatility of cryptocurrency markets.

In reality, Chiliz is not a crypto company but one that uses crypto as a technology to achieve business goals unrelated to crypto. Using NFT technology in Socios is an example of innovation. NFT Gamers can level up, personalize their profiles, and achieve in-game goals.

As part of Chiliz’s commitment to supporting sports teams and their fans, the company has taken a leading position in using technology. As of 19 August, Chiliz has a market capitalization of $1.19 billion, ranking 47th among cryptocurrency assets. It is impossible to forecast where the token will end up and any investor who is considering Chiliz should conduct their own research.