Chiliz, the sports-themed cryptocurrency, has been making great strides following news related to the broader Chiliz ecosystem.

Chiliz’s official Twitter account revealed that the ecosystem will launch a new blockchain that is expected to drive the demand for the ecosystem’s native token.

At the time of writing, the token is up nearly 10% in the last seven days. Along with the bullish sentiment surrounding cryptocurrencies in the past few days, CHZ could see new highs this week.

Public launch of the new Sports Blockchain_ 𝐓𝐡𝐞 𝟏𝟎𝐭𝐡 𝐨𝐟 𝐌𝐚𝐲 #ChilizBlockchain  $CHZ  pic.twitter.com/xNHnCfriin

— Chiliz ($CHZ ) – Powering Socios.com  (@Chiliz) March 28, 2023

Related Reading: These Top 5 Meme Coins Are Bleeding As March 2023 Ends – Here’s Why

CHZ Becoming A Hot Investment Due To Off, On-Chain Factors

The sports and entertainment niche Chiliz built itself on is celebrating the latest development on Socios.com, which is powered by the Chiliz ecosystem.

According to one of Socios’ latest tweets, the entertainment platform announced that they are accepting votes on who the community wants to see on the next fan tokens.

This is ahead of the UFC Season 287 which is one of the biggest MMA shows on the planet. With total revenue of $609 million, this would bring more fans to Socios which means more demand for the Chiliz ecosystem, not to mention the up-and-coming Palmeiras fan token in the next few weeks which would also drive up demand.

We’ve got something new for UFC Fan Token holders ahead of #UFC287! 

Choose which fighter you’d like to see on a @OfficialPanini Instant Card!

 Vote now! https://t.co/iYE5ZHaeci pic.twitter.com/L7ZuzLuT0D

— Socios.com (@socios) April 3, 2023

Adding to the bullishness is the May 10 release of the new Chiliz blockchain. Although there are no specific features defined by the tweet, the community is spurred into buying up CHZ ahead of launch.

At $0.1268, The Token Is Poised For A Big Upside

CHZ, which is currently trading at $0.1268, has been trading on a consistent upward trend following the general crypto market price movement. This led the bulls to target the $0.1308 resistance as a short-term target.

The current sentiment on crypto should also help the price to rally towards this resistance in the next couple of days.

Due to this, investors and traders should be able to target $0.1664 in the long term. Breaking through this resistance would give CHZ a reliable support level for the future. Investors and traders should focus on flipping $0.1308 to support.

If the momentum allows it, CHZ bulls should be able to target $0.1914 comfortably. Monitoring the major cryptocurrencies will also benefit the bulls as they can gauge the sentiment around crypto.

#chz #chiliz #Binance #crypto2023 #BTC

The latest situation in altcoins before the Fed part2

Lina : Lina, who had a busy week at night, is almost back to the beginning. The first support area below for Lina is $0.1. old support areas will now act as resistance.

Doge: Danger bells started to ring for Doge coin. if the doge closes daily and weekly below $0.06, the first level waiting for us below is $0.038 This means that the doge has experienced a decrease of approximately 40%. If the decline deepens in the Doge, the next support level awaiting us below is $0.0098$ if these levels are seen it is suitable for spot buying.

Litecoin: It seems that ltc, which is very short of the halving period, has not yet started its upward movement. ltc is currently moving around the support area of $77-76. I will wait for the $68 levels to come with a final shake-up before the halving in ltc.

Cosmos : Atom got a nice reaction from the support area at $8.4 and rallied a bit. The first level for spot buying on Atom is $6.5 and $5. Old support areas will continue to act as resistance.

LINK: With the link closing below the weekly support, the bearish movement will deepen. the level I see suitable for spot purchase is 3$

Op: Op price continues to drop. The level I expect for spot buying would be in the range of $0.7-0.75.

Tron : As the bearish movement in Bitcoin deepens, the first support level for trx is $ 0.067

If it can't hold here, $0.056 levels can be seen for tron.

Gal : The initial resistance area for Gal is marked at $1.38-1.4 on the chart. The first support level waiting for us below is $1

Chz : Realizing the bearish move we expected, chz made some reaction rise from $0.0645 level. but this is not enough. The first support level below for chz is $0.05. Alarm bells are ringing for chz. It's good to be careful.

Bonus

Fet : The long-term voltaic fet found support at $0.18 but there is a deep gap below. If it fails to hold at $0.18 levels, $0.098 will be the next support area

#fed #apt #chz #bykaranteli

Chiliz is a blockchain-based platform that aims to revolutionize fan engagement in the world of sports. By leveraging blockchain technology and its native token, $CHZ, Chiliz provides sports fans with unique opportunities to interact with their favorite teams and players like never before.

At its core, Chiliz offers a fan engagement and rewards platform called Socios.com. Through this platform, fans can acquire Fan Tokens of their favorite sports clubs. These Fan Tokens grant holders access to exclusive content, voting rights on club decisions, and even the opportunity to participate in interactive polls and surveys. This level of engagement allows fans to have a direct impact on their favorite teams and fosters a stronger sense of community.

Chiliz has partnered with some of the biggest sports clubs in the world, including FC Barcelona, Paris Saint-Germain, and Juventus. This has enabled these clubs to tap into the vast potential of blockchain technology and create new revenue streams by monetizing their fan bases. The introduction of Fan Tokens has allowed clubs to connect with their fans on a deeper level and build stronger brand loyalty.

The $CHZ token serves as the primary utility token within the Chiliz ecosystem. It is used for purchasing Fan Tokens, participating in club-related activities, and accessing exclusive rewards. With its increasing adoption and partnerships, $CHZ has gained popularity among sports enthusiasts and crypto enthusiasts alike.

Chiliz has demonstrated its commitment to mainstream adoption by integrating its Fan Tokens into popular social platforms like Instagram and Telegram, making it even more accessible to fans around the world. This integration allows fans to seamlessly engage with their favorite teams and fellow supporters without leaving their preferred social media apps.

As blockchain technology continues to evolve, Chiliz is at the forefront of driving innovation in fan engagement within the sports industry. With its unique approach and growing list of partnerships, Chiliz is poised to shape the future of fan interaction and monetization in sports.

#ceocrypto25 #chz