• Chiliz Token (CHZ) prices have risen by 13%

  • Chiliz (CHZ) token has emerged as one of the top gainers in the cryptocurrency market despite the delayed recovery and instability. In the last 24 hours, the whole crypto market value has dropped by more than 1.8 percent. Meanwhile, the CHZ token price has increased by more than 13% in the same time frame.

    CHZ introduces a new DEX for users.

    The native token of the Chiliz blockchain, which allows sports teams launch their fan tokens, has decoupled from current market sentiment. CHZ’s latest increase has offset its loss from the previous week. While the largest cryptocurrency, Bitcoin (BTC), is still under pressure. BTC prices have dropped by more than 5% in the last seven days.

    Alexandre Dreyfus, CEO of Chiliz, announced the opening of the first Decentralized crypto exchange for their fan tokens, CHZ chain 2.0. He stated that this step will boost the token’s liquidity. However, the new DEX will improve third-party developers’ capacity to create additional functionalities.

    CHZ 24 trading volume has increased by 247 percent.

    At the time of writing, the Chilliz token was trading at an average price of $0.134. However, it is still trading at a loss of 85% from its all-time high (ATH) of $0.89. Bitpanda, a trading platform, has launched several soccer team fan tokens. The CHZ token’s 24-hour trading volume has increased by 247 percent to $209 million.

    Fans that purchase fan tokens gain the ability to communicate with the clubs. Meanwhile, it has had little impact on the market. Holders have argued that the benefits aren’t worth it.

    Due to the recent market meltdown, the Chiliz token has dropped by more than 38% in the last 30 days. Nonetheless, it has managed to maintain its 65th position among the top cryptocurrencies. CHZ tokens have a market capitalization of more than $806 million.

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