AnalysisMarket Analysis – Invezz

CHZ price forecast: how will the public testnet launch affect its value?

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Chiliz CHZ/USD is a blockchain fintech provider for sports as well as entertainment.

Chiliz is also the developer behind the Socios.com sports fan engagement platform, which is built on the Chiliz blockchain infrastructure. As such, Chiliz provides sports and entertainment entities with blockchain-based tools as a means of helping them engage and monetize with their audiences.

CHZ is the exclusive, on-platform cryptocurrency that powers the Chiliz blockchain network. 

The Chiliz Chain 2.0 as a catalyst for growth

On March 26, 2022, we covered how CHZ rebounded as the broader market support started building. 

Chiliz, on March 31, 2022,  through their official Medium publication, made an announcement surrounding the launch of the Scoville testnet for the newly established Layer-1 blockchain network known as Chiliz Chain 2.0 or CC2. 

CC2 will aim to advance the Web 3.0 capabilities for sporting as well as entertainment firms and allow them to create non-fungible tokens (NFTs) as well as fan tokens, create decentralized finance (DeFi) applications and even create play-to-earn (P2E) games.

This follows the successful implementation of a six-phase testnet roadmap, where each iteration follows a chronological order based upon the chili pepper Scoville scale. 

What this means is that the Habanero mainnet launch is expected to occur between Q3 and Q4 of this year, and all of this could lead to an increase in the value of the CHZ token.

Should you buy Chiliz (CHZ)?

On April 1, 2022, Chiliz (CHZ) had a value of $0.2755.

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In order for us to truly see what this value point means for the CHZ token, we are going to go over its all-time high value as well as the performance the token showcased throughout the previous month.

In terms of the all-time high, Chiliz (CHZ) achieved a value of $0.878633 on March 13, 2021.

When we go over the performance of the token throughout the previous month, Chiliz (CHZ) had its lowest point of value on March 3, when it decreased to $0.185.

Its highest point of value, however, was on March 30, when it reached $0.3226. Here we can see that the token increased in value by $0.1376 or by 74%.

With this in mind, at $0.2755, CHZ is a solid buy as it can reach $0.35 by the end of April 2022.

The post CHZ price forecast: how will the public testnet launch affect its value? appeared first on Invezz.

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