Why Chiliz The Sports-Based Crypto Is Defying The Bearish Market.

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The price of Chiliz (CHZ) had increased by around 35% week-to-date (WTD), reaching $0.26 per token. As a result, the token has done better than Bitcoin (BTC) and Ether (ETH), which have fluctuated between gains and losses over the same time period.

As Santiment, a Crypto analytic firm noted, even powerful purchasers flocked back to the network. Since 29 March, whale transactions have reached the maximum network amount. In this regard, Santiment continued, “the CHZ surge could continue even if whales are profit taking.”

The inventor of Chiliz, Alexandre Dreyfus, declared on August 22 that the company would quit using the Ethereum blockchain to launch its fungible and nonfungible tokens and would instead switch to its own native chain, CHZ 2.0.

Dreyfus stated, “We don’t have to rely just on ERC20 or ERC721 similar indefinitely.”

“We believe that @chiliz can innovate on top of fungible token forms. It is simpler to launch and expand because we collaborate with more than 100 of the biggest companies worldwide,” he added.

Nairametrics.

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