Chiliz Token (CHZ) Prices Skyrocket By 13%; Here’s Why

Ashish Kumar
May 18, 2022
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Amid the slow recovery and instability in the cryptocurrency market, Chiliz (CHZ) token has emerged as one of the top gainers. The total crypto market value has shrunk by over 1.8% in the last 24 hours. Meanwhile, the CHZ token price has jumped by over 13% in the same period of time.

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CHZ launches new DEX for users

The Chiliz blockchain’s native token which helps the sports team launch their fan tokens has decoupled from the current market sentiment. CHZ’s recent jump has erased its loss from the past week. While the biggest crypto Bitcoin (BTC) is still trading under pressure. The BTC prices have slipped by over 5% in the past 7 days.

Alexandre Dreyfus, CEO of Chiliz, informed that CHZ chain 2.0 is launching the first Decentralized crypto exchange for their fan tokens. He mentioned that this move will increase the liquidity of the token. However, the new DEX will also raise the ability to build new features for the 3rd party developers.

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CHZ 24 trading vol up by 247%

The Chilliz token is trading at an average price of $0.134, at the press time. However, it is still trading down by 85% from its all time high (ATH) of $0.89. Bitpanda, a trading platform, has listed multiple fans tokens of different soccer clubs. The 24 hours trading volume of the CHZ token is up by a whopping 247% to stand at $209 million.

The fans who invest in the fan tokens get some power to interact with the clubs. Meanwhile, it hasn’t made much impact on the market. The holders have complained that those perks are not worth it.

The Chiliz token is still down by more than 38% in the last 30 days due to the recent market crash. However, it has still managed to hold on to the 65th spot among the biggest cryptocurrencies. CHZ tokens have a total market valuation of over $806 million.

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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.