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

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.

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.

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.