Chiliz (CHZ) witnesses significant surge: trading volume surges 490%, analysts and enthusiasts excited

The price of Chiliz (CHZ) has experienced an impressive surge recently, rising by more than 35% in the past week. The impressive upward trend has caught the attention of market analysts and cryptocurrency enthusiasts. According to Coinglass data, Chiliz (CHZ) trading volume surged by a massive 490.31% to $371.42 million.

Meanwhile, Chiliz (CHZ) open interest increased by 86.13% to $49.53 million. The distribution of open interest data shows widespread interest in Chiliz (CHZ) across multiple exchanges, highlighting the widespread adoption of this altcoin.

Chiliz (CHZ) is known for pioneering the intersection of blockchain technology, sports and the entertainment industry, and its Socios platform is growing in popularity and attention.

Analysts are closely watching Chiliz (CHZ) price action, with most speculating that the cryptocurrency’s movements could be indicative of a broader trend of blockchain and sports convergence. As Chiliz (CHZ) continues to make waves with its innovative strategy, future price action will be closely tied to developments within the Socios platform.

On January 17, 2024, Chiliz (CHZ) was trading at $0.1047, up 39.70% over the past week. Analysts say CHZ will rise to $0.1215 by the end of January, supported by the development of its network.

Cosmos (ATOM) Recovery 2024: Major Proposal Targets Zero Inflation, Sparking Optimism for Price Increases

Cosmos (ATOM) struggled for most of 2023, only gaining momentum in the fourth quarter. Nonetheless, there are some positive signs that the price of Cosmos (ATOM) could rise in 2024. The Cosmos Hub ecosystem is currently voting on an important proposal.

The main goal of the proposal is to set a minimum inflation rate for ATOM at 0%. By limiting inflation, the community hopes to maintain the value of Cosmos (ATOM), making it one of the most noteworthy altcoins in the crypto market.

On the other hand, the proposal will reduce the staking rewards issued to Cosmos (ATOM) validators. Nevertheless, most of the Cosmos (ATOM) community supports the proposal. Cosmos (ATOM) has been surging recently despite jokes that its price has shrunk to the size of an atom.

On January 17, 2024, Cosmos (ATOM) was valued at $10.19, up 4.44% over the past week. Experts say that ATOM will soar to $11.15 by the end of January, supported by the continued development of the network.

One Protocol（ONE）

In recent years, UMA’s price has surged by an impressive 80%+, pushing its market cap past $300 million. The project’s current focus is on a groundbreaking development called “Oval.” Uma Protocol, known for its oracles, has teased the “Oval” project.

Uma stated that Oval is designed to protect DeFi lending protocols from potential minimum extractable value (MEV) attacks. Likewise, Uma’s co-founder highlighted the losses incurred by such attacks, sparking expectations for “Oval” as a highly anticipated solution. Additionally, investors speculated that “Oval” will actively incorporate UMA tokens into its mechanisms, potentially driving the value of $UMA.

Hence, traders are optimistic about UMA with a Greed Score of 56, indicating buying at higher levels. Nonetheless, the maximum amount of UMA in circulation in the market is 101.17 million, with about 6.24 million of them in circulation. On a positive note, UMA holds a solid 18th position in the DeFi token sector and 7th position in the Yield Farming sector. Additionally, it holds the 43rd position in the Ethereum (ERC20) token sector.

Furthermore, UMA’s price surged 206% last year, outperforming 85% of the top 100 coins. Moreover, it is above its 200-day moving average, indicating an overall uptrend. By extension, UMA has had green candles in 17 of the past 30 trading days. Apart from this, UMA is actively trading near its cycle highs, showing strong liquidity based on its market cap.

Gala (GALA)

Despite the neutral market, Gala remains strong and is hovering near the $0.0357 resistance line. The price of Gala has increased by more than 25% in the past month. Moreover, investors are watching these developments as the green candles provide a reason for a party.

Moreover, traders are actively participating in the active market, exploring the collection of 9,999 unique NFTs and indulging in exclusive digital art and collectibles. Moreover, as Gala is trading above its major moving averages, its bullish momentum is increasing, indicating a sustained buying interest in the market.

Subsequently, GALA price reached $0.024512 with an intraday trading volume of $95.41 million. Similarly, the market capitalization of the token has grown to $681.27 million, maintaining a market dominance of 0.04%. GALA price has increased by 3.45% in the past 24 hours. Gala ranks 23rd in the Ethereum (ERC20) token space by market capitalization. In addition, it ranks sixth in the NFT token space and fifth in the gaming space.

Along the positive lines, Gala is above the 200-day simple moving average, indicating a positive trend. Likewise, Gala has high liquidity due to its large market cap. The token is actively traded on Binance, further boosting its position in the market.