Chiliz, the leading digital currency for sports and entertainment platforms based on blockchain technology for sports fans to interact and earn rewards through the Socios.com portal. CHZ is a non-fungible token (NFT) which is a payment medium for buying and selling Fan Tokens.
Among the leading teams that have partnered with them in offering 'Fan Token' are Barcelona FC (BAR), Juventus (JUV), Paris Saint-Germain (PSG), Manchester City (CITY) AS Roma (ASR), Galatasaray (GAL) and Atletico de Madrid (ATM).
In addition to the sport of football, they have also partnered with the UFC.
Chiliz started rocking the market at the end of 2020 when it partnered with Binance to launch the AC Milan token (ACM) for the AC Milan football team on 24 February. The launch also generated a $ 6 million profit for the CHZ ecosystem.
Examine the CHZ/USDT price movement chart.
In early March 2021, the CHZ price triggered an aggressive price increase rocketing over 1,700% up to an all -time high (ATH) at the $ 0.89 price level.
The price hike follows an announcement from CEO Alexandre Dreyfus regarding an allocation of $ 50 million for a project to expand operations to the United States (US) to work with local leagues and sports franchises.
From a technical point of view, CHZ is witnessing a weak price movement and is still trying to break the SBR zone around $ 0.30 where the zone is difficult to break for CHZ in line with the current crypto slowdown.
If the CHZ price movement manages to break the $ 0.27- $ 0.33 resistance level, the next focus is on the SBR zone (support become resistance) around $ 0.40 before making a rise to higher levels.
However, if the CHZ price movement continues to maintain a weak price movement, the $ 0.20 support level will be tested first for the expectation of making a rebound or continuing to maintain the bearish trend.
At the time of writing, CHZ is trading at $ 0.22, down 4.30% with a market value of over $ 1.2 billion in 24 hours.
