Chiliz burst into the limelight by helping entertainment and sports companies with blockchain-enabled tools to enable them to monetize their viewership.
Subscription is an access link through which fans get voting rights and early tickets. Also, the direct access fans have to their preferred soccer teams is a function of Chiliz blockchain technology and tokens.
Through CHZ tokens, fans can easily access the fan tokens of their preferred football teams. The CHZ token is the native digital currency of Chiliz. Fans buy these tokens through a platform known as socios.com. Socios is a crowd management platform that functions as the powerhouse of the Chiliz experience.
Until now, fans have accessed their favorite football clubs by buying merchandise and watching football matches. But with the Chiliz experience, these sports fanatics can connect with their favorite teams in real time. In addition, fans now significantly influence the decision-making process of their favorite clubs.
Increased Chiliz trade volume
Chiliz is one of the most significant digital currencies on the crypto market. This is a cause for surprise given the current market trend.
Sentiments show a recent increase in whale transactions. The growth is similar to that achieved a few months ago (March 29), when Chiliz reached its all-time high of $0.3008. However, it is not the current price of the token. According to the on-chain tracker, this increase is likely to continue longer than expected.
🌶️🐳 #Chiliz broke into the top 40 #crypto assets by market capitalization and a +150% price increase in the past 4 weeks. Whale transactions hit the highest amount online since March 29. Even if the whales take the profits, $CHZ the rally could continue. https://t.co/94WHoTk9XE pic.twitter.com/3xz7FgSlMU
— Santiment (@santimentfeed) August 24, 2022
While the crypto market is still moving along the red zone, Whalestats reports an increase in Chiliz trading volume. Chiliz has successfully secured a position among the top ten most traded digital currencies in the last 24 hours. The event resulted in huge profits for the big whales, according to reports.
This is especially true, judging by the rate at which the digital token, Chiliz, has grown. Since last month, the token has increased by more than 150%. Currently, CHZ is trading at a price just above $0.240. This phenomenon has given the cryptocurrency a place among the top 40 digital currencies on cryptocurrency.
Meanwhile, Chiliz Token’s market capitalization is around $1.45 billion. According to MarketWatch, the token’s trading volume has increased by 23% in the last 24 hours, bringing it to $9.047 million
The price of Chiliz, as of three days ago, has increased to 25%. So far, the token has hovered around the price of $0.25.
But according to data from Bitpanda Pro, the whales’ efforts have brought the cryptocurrency past that mark. Moreover, since June 18 this year, the appreciation of the CHZ price has also resulted in the rise of fan tokens.
Featured image from Pixabay, chart from TradingView.com