Chiliz (CHZ) is one of the cryptocurrencies that attracts attention with its rise in these days when the horizontal trend in the crypto money market continues. Why is CHZ rising, which has shown a serious rise in the last 24 hours?
CHZ is up about 6.1 percent in the last 24 hours, according to data from CoinGecko. With this rise, CHZ has taken a place in the list of the highest risers. So why is CHZ rising? What is the reason for the rise in CHZ? Let’s try to find it together in this article.
Why Is Chiliz (CHZ) Rising?
It is the Chiliz (CHZ) ERC-20 token released by Socios.com in 2018 and runs on the Ethereum network. Chiliz (CHZ) Blockchain allows its users to interact and monetize between entertainment and sports organizations and their audiences. Aiming to build a bridge between e-sports and sports clubs and their fans with Blockchain, Chiliz (CHZ) contributes to the fact that the fans have a say in many issues such as who the best player will be chosen, club products and jersey design.
CHZ’s daily chartWhen we look at the chart of CHZ, we see an uptrend after a long downtrend. As of writing, Chiliz is trading at $0.19. Fibonacci data shows $0.18 and $0.16 support and $0.2 resistance in CHZ.
The increasing interest of investors due to the upcoming world cup, newly released fan tokens and the world cup can be shown as the reason for this rise in CHZ.
