Chiliz (CHZ), a blockchain-based technology company, aims to tokenize sports and entertainment.
- CHZ shows remarkable traction and an uptick in spite of a bearish stock market
- Chiliz is a partner with large sports teams and organizations
- CHZ prices rise by 6.21% at press time
Chiliz has intensified its partnerships and developments with major sports organisations and teams around the world.
According to CoinMarketCap, CHZ’s price has soared by 6.21% or trading at $0.2161 as of this writing.
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.
On August 18, the token saw a 73% increase, indicating a 4-month high. The token has outperformed major cryptos such as Ethereum and Bitcoin due to this recent price surge.
Chiliz, in essence, is an open platform which allows any number of sports organisations to trade limited fan tokens. These tokens provide exclusive benefits, perks and voting rights to their supporters.
Chiliz has expanded its network with football clubs and organizations including FC Barcelona, Paris-Saint Germain, Manchester City, and Atlético de Madrid.
Chiliz partners with sports teams to increase brand awareness, marketing and provide immersive experiences for fans.
CHZ joining the ranks of Top-Performing Cryptocurrencies
Chiliz is the current 47ThAs of writing, $1,293 trillion is the largest cryptocurrency in terms of its market capital.
CHZ is currently joining the ranks of top performing cryptos this weekend. The coin has seen a 9.2% increase in value over the last 24 hours.
Although this might seem like a small spike in comparison to other coins, it is still remarkable considering the bearish market.
CHZ announced recently on September 15 that they will be launching a fan token. This has attracted more investors who want to trade and buy the coin.
Technical factors also contributed to CHZ’s uptrend. As the cryptocurrency experienced a significant correction from $0.24 to $0.164, it was extremely bearish.
CHZ has a RSI of 50 or higher, which suggests a significant buying pressure. Chiliz’s performance over the last week was comparable to that of the key support zone tested a week before.
Source: TradingView.com| Source: TradingView.com Featured image taken from DailyCoin. Chart by TradingView.com (Analysis should be understood as personal opinions and not investment advice.).