Chiliz Up By 2.85% – Time To Buy CHZ?
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- Chiliz is up 2.88%% in the last 24 hours, attracting investors to buy CHZ.
- Socios set to launch Mobile Games for Token Holders.
- Chiliz Plots Sports launches Chain 2.0.
Chiliz is the governing digital asset for sports and entertainment. Its active fan participation has attracted investors to buy CHZ. The network functions as a blockchain-based sports entertainment platform called Socios.
The blockchain has become an effective network for fans to connect with their sports club and associations. The network has employed effective methods to attract both investors and developers to buy CHZ.
Chiliz Plots Sports Launches 2.0 Chain
Chiliz has disclosed that ‘Scoville’, the public test net for Chiliz Chain 2.0 (CC2) is now live. Investors who buy CHZ can enjoy the opportunities that come with the network as it expands its frontiers. CC2 allows sports and entertainment brands to mint NFTs and Fan Tokens, build DeFi products, and Play2Earn games.
This platform unlocks the huge potential of Web3. CC2 will be powered by the $CHZ token. According to the network, the launch of the CC2 testnet is the most significant expansion of the Chiliz ecosystem since its inception. Over 130 of the world’s prominent sports organizations have adopted Socios.com’s vision to enhance global fan engagement through Fan Tokens.
Socios Set To Launch Mobile Games For Token Holders
Socio has added more utility and excitement to its increasing Fan Token community with its new mobile games. The network is prepared to launch 13 easy to play sport games. Investors and gamers may choose to buy CHZ to participate in its new game launch.
The Socio.com app has gained over 1.5 million downloads from users in over 167 countries. Its network allows its Fan Token holders to influence their favourite teams in polls, access competitions, and earn rewards and exclusive offers.
Socios.com is currently the first blockchain-crypto related partner in American Football. The network has expanded into North America with its 13 new partners. This comes as good news for investors seeking to buy CHZ. Socios’ new partners comprise some of the most prominent professional sports leagues globally.
To celebrate the partnership, Socio collaborated with each club. This is to provide market-specific rewards for lucky fans of each franchise. Some of the rewards are a trip to the 2022 Draft, surprise meet-and-greets with players, and player-led tours of stadiums.
Technical Analysis
Chiliz is up 2.88% in the last 24 hours with a $0.2483 price peg. This reveals a good market price for investors who may choose to buy CHZ.
The digital asset shows a 50-day moving average (MA) of $0.2484 and a 50-day exponential moving average (EMA) of $0.2483. CHZ is currently trading below its MA and above its EMA. This shows a slightly bearish market. However, with CHZ price increase in the market, the digital asset may gain the bulls over time.
CHZ is presently trading above its 78.6% Fibonacci retracement level of $0.2477. Investors looking to buy CHZ should watch its current level. This may serve as Chiliz’s long term support. If the asset breaks above this level, it could be a signal that CHZ is prepared for bigger upsides.
The digital asset shows a positive moving average convergence divergence (MACD). Its relative strength index of 55.64 shows that it isn’t overbought yet. Investors may choose to buy CHZ with its current increase in the market.
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