Chiliz Price Riding High On Whales Efforts? Will This Rally Sustain

Ashish Kumar
August 24, 2022
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Chiliz

Chiliz (CHZ) emerged as the top gaining crypto among the biggest 100 digital assets amid the recent downturn. CHZ is riding high on metrics as its price has surged by over 130% over the past 30 days. However, the experts suggest that this rally could continue ahead.

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Chiliz trading vol skyrockets

According to Santiments, the whale transactions have gone on to hit the highest network amount since March 29, 2022. Chiliz price went on to touch the $0.3008 price level on that day.

The On-chain tracker mentioned that the whale is still taking their profit amid this rally. While this rally has the potential to continue further.

The Whalestats reported that Chiliz has landed on the tally of top 10 tokens as per trading volume among the biggest 2000 Ethereum (ETH) whales in the last 24 hours. Meanwhile, Chiliz token also stands on the tally of the most sold tokens by the whales at the same time. This suggests that the major whales are booking their profit.

Chiliz has managed to surge by over 150% in the past four weeks. This increase has helped CHZ barge into the top 40 cryptos. Chiliz is trading at an average price of $0.242, at the press time. Its 24 hour trading volume has jumped by around 23% to stand at $904.7 million. CHZ is holding a market cap of more than 1.45 billion.

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CHZ getting support?

Earlier, Coingape reported that Fan token platform Socios.com gained its regulatory approval in Italy. This will allow them to provide services for virtual currencies and digital wallets. This announcement boosted the Chiliz tokens to surge.

As per Bitpanda pro, Chiliz prices have rallied around 25% in just three days as it broke the barrier at the $0.22 level. This has been marked as the highest point since mid of April. It mentioned that Fan tokens are on a rise since June 18, 2022, as they overcome the falling wedge.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.