The digital currency market has made another mind-blowing record with Chiliz (CHZ) as the cryptocurrency is known more for its position in the global sports and performance industry witnessed an unexpected price upsurge. As of today, $CHZ has moved up 3.77% in the last 24 hours and has taken the current price of $0.11. As a result of that, CHI worth has reached $0.039 at today’s rate which places it among the top 100 cryptocurrencies by market capitalization with an estimated market cap of around $978 million.
The one comes with a lot of experts’ opinions regarding all the reasons for Chiliz’s recent surge, the increase in adoption by sports teams and the improvements in their fan engagement platform are the most contributing factors. In her presentation, Emily Carson, the corporate consultant at Innovate Crypto, explored blockchain technology applications and she noted: ” Chiliz has really shown what it can do in the integration of blockchain and sports fans engagement. Their recent partnership with European football clubs has clearly enhanced the company’s performance and investor confidence.
A plethora of Chiliz users, including but not limited to Tom, a sports fanatic and crypto investor for a long time, remarked that the currency might play a critical part in the future. “I can’t believe Chiliz is not just an investment product but also it makes one become the club shareholder…being shareholder is what revolutionizes the relationship among club administration, players agents and supporters.” “The more clubs that join the platform the more I have it of me I may have CHZ, Harrison said.
the trade of CHZ is remarkable including a 24-hour trading volume of around $98 million showing a 24.56% 24-hour shift from the previous day. This volume stabilizes currently at around 10% of the total market capitalization revealing strong commercial demand and adequate liquidity. Moreover, almost the entire demand for Chiliz, mostly 147,389,289,004 CHZ (out of 888,888,888, that is almost a fully-dolled market).
“That Chiliz’s power is in factors that drive fans and crypto lovers also are also one of Chiliz’s strengths; as the platform grows with more clubs and sports entities adoption, most likely the user base and token value will have a continuous rise”, Dr. Carson is a theory.
This rise in Chiliz‘s price last month reveals how rapidly cryptocurrency is transforming industries tangentially related to the financial sector, not just to cryptocurrencies itself, now including the ability for cryptocurrency to improve fan experience in sports. As the tokens are fully diluted, the market cap is nearly at $981 million and Chiliz is clearly a large and fast-growing participant into the crypto region.
Cryptocurrencies are not just a fad. They are continuing the innovation around the world and applying themselves in different areas such as sports and entertainment industries. Therefore, Chiliz’s recent growth might be an example of what to expect when the crypto market enters the mass market. What’s next for the cryptocurrency market is uncertain and will depend on various different variables such as market conditions and the acquiring of new teams and leagues for example.
