Chiliz (CHZ) is a blockchain technology company that aims to virtualize the sports and entertainment space.
- Despite the bearish market, CHZ shows great traction and momentum
- Chili’s has partnerships with major sports organizations and teams.
- CHZ price increased by 6.21%.
Chiles has leveraged major developments and partnerships with major sports organizations and teams around the world.
according to CoinMarketCapCHZ price increased by 6.21% or is trading at $0.2161.
CHZ cooperates with sports clubs.
CHZ saw a significant price increase last month following Chile’s partnership with FC Barcelona, a popular Spanish football club.
The token was seen climbing 73% on August 18, marking a four-month high. This recent price increase has made the token outperform major cryptos like Bitcoin and Ethereum.
Essentially, Chiliz is an open platform that allows various sports organizations to issue limited commercial fan tokens that offer their fans exclusive membership benefits and perks, access to NFTs, voting rights and merchandise rewards.
Chiles has expanded its network with football clubs and organizations including FC Barcelona, Paris-Saint Germain, Manchester City and Atlético de Madrid.
Sports teams work with Chili’s to provide brand awareness and marketing as well as modern and immersive experiences for fans.
CHZ is joining the ranks of the top performing Cryptos
Chiles is currently 47.Th The biggest crypto as of this writing has a market cap of $1,293 billion.
CHZ currently joins the group of top performing cryptos of the weekend. So far, the coin has gained 9.2% in the last 24 hours.
This may be a small increase compared to the performance of other coins, but CHZ’s performance at this time is unusual in the face of a bear market.
CHZ recently announced plans to issue a new backer token on September 15th that will encourage more investors to buy and trade the coin.
Technical factors also contributed to the development of CHZ. The crypto is extremely bullish as it has experienced a correction from $0.24 to a weekly low of $0.164.
The CHZ RSI is shooting above 50 indicating strong buying pressure. Chile’s last week’s performance is lower than the previous key support zone, which was retested a week ago.
CHZ total market cap at $1.4 billion on the daily chart | Source: TradingView.com Featured image from DailyCoin, Chart: TradingView.com (The analysis represents the author's personal views and should not be construed as investment advice).