• The global cryptocurrency market cap stands at $1.05 trillion, representing a 0.19% increase in the last day.
• Chiliz’s (CHZ) price is gaining today, reflecting the positive moves of the general market and recording an almost 6% increase in value.
• Some experts have predicted 2023 to be bullish, and the price performance of cryptos so far is leaning toward this prediction.
The global cryptocurrency market is booming, with the total market capitalization climbing to $1.05 trillion, representing a 0.19% increase in the last day. Altcoins are making impressive gains, with the recent surge in the price of Chiliz (CHZ) particularly noteworthy. CHZ has recorded an almost 6% increase in value in the last 24 hours, outperforming market leader Bitcoin which has seen a 0.02% increase in the same time period.
CHZ is a fan token that operates on a community-driven platform, allowing members to vote on the direction of the project. It has several lucrative partnerships with major soccer clubs, such as Juventus, Manchester City, FC Barcelona and Paris Saint-Germain, and offers limited edition fan tokens to the supporters of these clubs. These fan tokens are purchased using the platform’s native token CHZ, which acts as a currency for these transactions. The fan tokens are issued in limited supply in order to preserve their uniqueness and scarcity.
The surge in CHZ’s price is an indicator that the cryptocurrency market is leaning towards the bullish prediction for 2023. This means that the market could continue to rally in the coming weeks, bringing further gains to the cryptocurrency market.
The rise in CHZ’s trading volume, which has increased by 82.02% in the last 24 hours, also indicates a growing interest among investors in the asset. This could be a sign of the bullish prediction for 2023 coming true, and could result in a bull run in the near future.