James Atkins
Editor
Editor
The price of the Chiliz (CHZ) token has increased by over 8% today. Becoming one of the top gainers in the crypto market and helping to prop up the overall cryptocurrency market value.
The Chiliz token is the native cryptocurrency of Chiliz.com, a sports and entertainment platform, that allows fans to connect. With their favorite teams and players have seen a price surge after the launch of its new DEX on the Binance Chain.
Chiliz (CHZ) trades at $0.1289 up 8.79% following a 6-month bout of consolidation, having broken and retracing from a daily high of $0.1403.
The recent price rise of the Chiliz blockchain native token (CHZ), which aids sports teams in creating fan tokens. Has broken away from the current market trend, recovering some of last week’s losses.
Chiliz team had earlier announced the launch of Chiliz chain 2.0 and a new DEX for fan tokens. Both of which went live on Binance mainnet on May 17.
The Chiliz chain is a blockchain built on Tendermint consensus that helps in the development of fan tokens.
The CEO of Chiliz, Alexandre Dreyfus, announces that the CHZ chain 2.0 will set in motion the first Decentralized cryptocurrency exchange (DEX); for their fan tokens.
The liquidity of the token is anticipated to rise as a result of this move. But it will also include certain capabilities that third-party developers can utilize to create new themes.
Fans who invest in the fan tokens will have access to other clubs, but it has yet to have a major impact on the market. Because some fan token holders complain that the advantages aren’t worth it.
The Chiliz team is constantly working to create more use cases for the token. And they have plans to add more features in the future. At the moment, Chiliz is not listed on any major exchanges but it is available on Binance DEX and Hotbit.
With the launch of their new DEX, Chiliz (CHZ) is setting in motion a new era for fan tokens. This move is anticipated to result in a rise in liquidity for the token. As well as provide third-party developers with new capabilities to create themed experiences.
Even though the CHZ token’s value drops by over 38%, in the last month Because of the recent market downturn. It has maintained its position in the 65th place among the major cryptos in the industry.
Chiliz (CHZ) is a cryptocurrency that was created to power the sports and entertainment platform, Socios.com. The Chiliz team is confident that this move will result in a price increase for the CHZ token.
The Chiliz team worked hard to ensure that the Chiliz platform is fully operational and compliant with the latest regulations.
The Chiliz DEX will be a big step forward for the Chiliz project, which aims to tokenize the sports industry. The Chiliz team is confident that this move will result in a price increase for the CHZ token.
The Chiliz team is also working on launching a non-custodial wallet. Which will make it easier for users to store their Chiliz tokens. Currently, Chiliz (CHZ) is trading at $0.65 with a market capitalization of $425 million.
The price of the token has been on a steady increase since the beginning of the year. And is expected to continue to rise as the Chiliz project progresses.
Investors are advised to keep an eye on the Chiliz project as it has immense potential to disrupt the sports industry.
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
