Chiliz (CHZ) Jumps Over 40%: Reasons Behind The Hot Streak

Name	Symbol	Market	Market Cap ($)	Algorithm
chiliZ	CHZUSD	Crypto	1,065,777,778	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

chiliZ

CHZUSD

Crypto

1,065,777,778

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0004	-0.33%	0.1198	0.1196	0.1198

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.0004

-0.33%

0.1198

0.1196

0.1198

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.1213	0.1184	0.1206	0.1202	0.053700 - 0.197000

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.1213

0.1184

0.1206

0.1202

0.053700 - 0.197000

Exchange	Last Trade	Size	Trade Price	Currency
GEMN	10:46:25	1.00	0.12003	USD

Exchange

Last Trade

Size

Trade Price

Currency

GEMN

10:46:25

1.00

0.12003

USD

Price x Volume	Volume	Base Symbol	Related Pairs
108,666.54	906,567.98	CHZ	CHZEUR	CHZGBP	CHZBTC

Price x Volume

Volume

Base Symbol

Related Pairs

108,666.54

906,567.98

Chiliz (CHZ) Jumps Over 40%: Reasons Behind The Hot Streak

17/01/2024 10:30am

NEWSBTC

Chiliz (CHZ), the crypto powering fan engagement in sports and entertainment, is on fire, erupting 45% in the past week and leaving both fans and analysts cheering. This meteoric rise isn’t just about passion play though, with hard data pointing to growing institutional interest and even whale whispers driving the rally. Related Reading: Bitcoin Backs Down: Ethereum Steals The Spotlight With Surge In Market Dominance CHZ price action today: Source: Coingecko Chiliz Volume, Open Interest Soar The past 24 hours have been particularly wild, with CHZ surging over 20% and trading volume spiking a staggering 490%. This translates to a whopping $370 million worth of Chiliz changing hands, a clear signal of heightened activity. But it’s not just day traders jumping in – open interest, a measure of investor commitment, has also ballooned by 86%, reaching a healthy $50 million. Source: Coinglass This surge in open interest, especially on major exchanges like Binance, Bybit, and OKX, suggests a growing conviction in CHZ’s potential. And it’s not just a hunch – industry experts are taking notice. Many see this Chiliz rally as a potential harbinger of a broader trend, where blockchain and the world of sports and entertainment become increasingly intertwined. Source: Coinglass Fan Engagement, Whales Boost CHZ But what’s fueling this fire? One key factor is the rising popularity of Socios, Chiliz’s fan engagement platform. Socios lets fans own and use “Fan Tokens” to influence their favorite teams, a proposition resonating deeply with the sports-crazed masses. And it’s not just lip service – recent liquidations of nearly $1 million worth of short positions (bets on CHZ falling) show the real bite behind fan sentiment. Chiliz currently trading at $0.107789 on the daily chart: TradingView.com Adding fuel to the flames are the whales, those mysterious holders of vast crypto fortunes. Addresses with wallets bulging with 1 million to 10 million CHZ have been on a buying spree, accumulating over 60 million CHZ in the past month alone. This silent accumulation, worth over $6 million, hints at a deeper confidence in Chiliz’s long-term trajectory. Related Reading: Stablecoin Takeover? Record Tether 71% Dominance Raises Questions About Crypto Future Looking ahead, the technical indicators like RSI and MACD suggest a bit of profit-taking might be on the horizon, a natural breather after such a rapid ascent. But for CHZ holders, the overall picture remains bullish, with the fundamentals and data pointing towards a continued climb. So, whether you’re a die-hard sports fan or a crypto enthusiast, keep an eye on Chiliz – this rally might just be the first inning of a much bigger game. Featured image from iStock

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CHZUSD chiliZ