- Since October 22, the CHZ token, belonging to the sports token-focused platform Chiliz, has grown 36% in 10 days.
- The uptrend peaked at $0.2426 in the early hours of Oct 31.
- Its uptrend on October 30 led it to lead the fastest growing ranking among the top 100 cryptocurrencies.
Although for many the most important festivities to come are those of December, for football lovers, the most important party will arrive a month before, that’s right, we are talking about the World Cup that will be played in Qatar and will start on Sunday 20 november.
Although the event is key both socially and economically, since it is estimated that the host country will collect hundreds of millions from visitors to the football festival, the world of cryptocurrencies also kept an eye on the World Cup. Above all, the platform focused on sports tokens Chiliz has done it.
Since October 22, as reported by the media CryptoSlatethe CHZ token has only gone up. The lowest peak was $0.1624 dollars for ten days to present a growth of 36.39%. The uptrend peaked at $0.2426 in the early hours of Oct 31. At the time of writing this article in the $0.2215.
Its upward trend on October 30, with +16% during the last 24 hours, led it to lead the ranking of the fastest growing among the top 100 cryptocurrencies.. With a market cap of $1.3 billion, Chiliz ranks 43rd in the entire ecosystem.
Chiliz launches Chiliz Chain 2.0
The rise in the price of the token is not only due to the arrival of the World Cup, but also to the announcement of the “launch of the Chiliz Chain 2.0 test network for the future of Web3”. This project, which has no opening date, is called Scoville and its main goal is to improve its current network.
“Chiliz Chain 2.0’s goal is to be the leading blockchain for enterprise-grade sports and entertainment brands that want to create a Web3 ecosystem where stakeholders can build experiences within a secure community powered by the network effect.” highlighted the company.
One of the limitations of the current network is that it is closed, so its opening will allow developers to build decentralized applications and specific products for the almost 100 tokens that they currently have developed.
Chiliz presence in the market
The company undertook a successful search for allies to achieve global expansion: it has partners from different parts of the world. And it’s not just limited to the soccer field, it also has fan tokens from Formula 1 teams (Sauber and Aston Martin), the premier mixed martial arts competition (UFC), the Davis Cup and more.
The Chiliz platform has a huge number of sports tokens, in which the presence of PSG, Manchester City, Barcelona, Juventus, Atlético de Madrid, Milan and São Paulo stands out, for example. Of course there are also those of national teams: there are Argentina, Portugal and Italy. The first two, competitors in Qatar 2022, appear among the most successful in recent days.
In March this year, FIFA announced the centralized exchange Crypto.com as one of the official sponsors of the World Cup, ensuring that it will “benefit from significant brand exposure both inside and outside the competition’s stadiums.”
“Crypto.com has already demonstrated its commitment to top division teams and leagues, major events and iconic venues around the world, and there is no platform bigger or with greater reach and cultural impact than the global platform of Crypto.com. fifa soccer”, assured Kay Madatidirector of the FIFA Commercial Division.
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