Chiliz CHZ/USD is an Ethereum token that powers the platform known as Socios.com, which allows users to show their support for a professional sports team by purchasing Fan Tokens that give them exclusive perks.
The FTX.com partnership as a catalyst for growth
We have seen numerous fan tokens released and be awarded to professional players, such as Juventus awarding Cristiano Ronaldo 770 JUV in March. Manchester City, Juventus, Barcelona, Paris Saint Germain, and Atletico Madrid partnered with Socios.com to launch official fan tokens as-well.
On September 14, we saw an announcement from the official Chiliz Twitter page that they are partnering up with FTX.com in order to list Fan Tokens onto the cryptocurrency exchange.
This partnership, in turn, provides CHZ and Fan Token holders access to FTX’s industry-leading technology.
These Fan Tokens are collectible, tradable digital assets that allow their holders to access influence, VIP experiences, rewards, and much more on the Chiliz fan engagement platform known as Socios.com.
The introduction of these tokens onto the FTX.com exchange could prove to have a huge impact on the overall price of the CHZ token due to the increased blockchain activity and demand of the token, which should raise its value.
Should you invest in Chiliz (CHZ)?
On September 15, Chiliz (CHZ) had a value of $0.336.
To get a clearer image as to exactly what this price means for the token, we will be going over its all-time high value as well as its recent performance throughout August.
CHZ had its all-time high on March 13, where the token got to a value of $0.878. Here, we can see that the token was $0.542 higher in value or 161% higher at its all-time high.
When we look at August’s performance, its lowest point was on August 4, where the token had a value of $0.255.
In terms of its highest value point, it occurred on August 23 where the token had a value of $0.411. Here, we can see that the token increased in value by $0.156 throughout the month or saw an increase by 61%.
According to data from IntoTheBlock, Chiliz (CHZ) saw $241.66 million in transactions greater than $100,000 within the span of the last seven days.
Additionally, we saw $37.55 million in total exchange inflows, as well as $56.21 million in total exchange outflows within the last seven days.
The network also saw a 30-day average of 107.41k addresses, with the high at 112.56k and the low at 102.98k addresses.
We could potentially see the CHZ token increase in value up to $0.453 by the end of the month with all of this in mind.
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from Market Analysis – Invezz
