BCGAME - Free 5BTC Daily Bonus!In the last decade, blockchain technology has broken down and penetrated almost every industry. For example, the Chiliz (CHZ) cryptocurrency has now gained a strong foothold in the sports and esports industry.
Chiliz uses tokenization to change the relationship between sports, sports clubs and their global fan groups.
Launched in Malta in 2018, the Chiliz price has grown more than 4.350% from $0,02 on January 1, 2021 to its all-time high of $0,89 on March 13, 2021, according to CoinMarketCap. Since then, the price has been consolidated. Current market sentiments are bearish based on price action.
This article includes a cryptocurrency overview, news and highlights, as well as Chiliz price forecast and CHZ price analysis.
What is Chiliz (CHZ)?
Chiliz is a cryptocurrency and payments platform for apps and services based on blockchain aimed at conventional consumers. Additionally, Chiliz serves as a community engagement network that allows companies in the sports sector to enable and market customer engagement.
Used primarily in football, Chiliz' mission is to provide millions of sports and electronic sports enthusiasts with a currency they can use to buy direct voting rights at their favorite football clubs. As a result, supporters are no longer passive spectators and become participating members of a community.
Chiliz also designed and developed the Socios sports fan communication network on the Chiliz blockchain, with Chiliz's native token (CHZ) serving as the primary currency.
What is Chiliz Token (CHZ)?
The Chiliz token is an ERC-20 utility token that runs on the Ethereum blockchain and drives the Chiliz ecosystem. The Socios.com and Chiliz exchange relies on the CHZ token to function.
The CHZ token is the main currency on the Chiliz blockchain. Any transaction on the Chiliz blockchain requires CHZ payment. This involves token trades on the Chiliz Exchange as well as the fan voting system.
Token trading on the Chiliz exchange reflects the purchase of tokens from fans. Fan tokens are limited number digital assets that reflect ownership of voting power and allow the token holder to earn rewards and unique experiences. Fan tokens are redeemable, meaning they can be redeemed for VIP events, premium merchandise and passes.
Chilean currency news and highlights
- Chiliz has partnerships with top football clubs and sports teams including FC Barcelona, Juventus, UFC and AS Roma.
- Chiliz recently confirmed partnerships with the top three Indian Premier League cricket franchises – Kolkata Knight Riders, Punjab Kings and Royal Challengers Bangalore.
- In 2020, fan tokens raised $30 million in revenue for clubs and partners, establishing a new source of digital revenue and helping sports organizations overcome the effects of the pandemic.
- Chiliz revealed in March 2021 that it would invest $50 million in its US expansion strategy.
Chiliz Price Forecast (CHZ)
The Chiliz token is currently trading at $0,30 and has a market capitalization of about $1,79 billion, ranking 62nd in terms of market valuation (as of May 21, 2021).
The recent movement in Chiliz currency prices has been bearish, falling from a weekly high of $0,44 on May 18, 2021 to $0,24 on May 20, 2021, rising to $0,30 at the time in that this article was written. It's important to note that the cryptocurrency industry has been down for some time, and further corrections could cause prices to drop a lot.
Since encryption markets are so unpredictable, you must monitor your investments carefully, otherwise you could end up with huge financial losses.
On the positive side, WalletInvestor and DigitalCoin are bullish on the CHZ/USD forecast and growth outlook. Chiliz's past price movement, high-profile partnerships, improved accessibility and, most importantly, the growing popularity of sports and e-sports contribute to an optimistic outlook.
Chiliz 2021-2025 price forecast
WalletInvestor, an algorithmic forecasting platform, is optimistic about the long-term outlook for the Chiliz currency. They predict that by the end of 2021, Chiliz will be $0,90 on the conservative side and $1,02 on the ambitious side, implying that substantial gains could be possible in just eight months.
According to WalletInvestor's long-term Chiliz (CHZ) currency forecast, the cryptocurrency is expected to increase by at least 1.000% from its current price of $0,30 by the end of 2025.
By the end of 2022, they expect the price to be $1,95, $2,97 by the end of 2023, $4,09 by the end of 2024, and $5,22 by the end of 2025.
Likewise, Digital Coin is optimistic about Chiliz's long-term prospects. However, its analysis of Chiliz prices is conservative, predicting a 200% increase in 2025.
They estimate the price to be $0,49 at the end of 2021, $0,56 at the end of 2022, $0,67 at the end of 2023, $0,80 at the end of 2024, and $0,93 at the end of 2025. They expect Chiliz's price to reach $1,44 by 2028.
Is there any way to invest in cryptocurrencies besides buying them?
Over the course of just a few days, bearish market sentiment drained billions of dollars from cryptocurrency market🇧🇷 Given the immense volatility and investor concerns, current market dynamics look risky.
However, with contracts for difference (CFDs), you can trade CHZ/USD and other cryptocurrencies, speculating on their price volatility. CFDs allow you to choose to trade long or short depending on market performance, without having to buy currencies.
For example, if you believe the price of CHZ will increase, you can go long. If you believe it will decrease, you can go short. You can benefit from any price movement, up or down.
FAQs
Is CHZ currency a good investment?
Any asset with solid fundamentals, favorable investor sentiment, and a favorable analyst valuation is widely considered a successful investment. For now, CHZ meets all these requirements. There is a high probability that collaborations and partnerships with more sports clubs will increase performance.
Where can you trade CHZ?
You can trade CHZ using CFDs depending on your CHZ / USD forecast. You can also trade cryptocurrencies like bitcoin (BTC) , dogecoin (DOGE) , ethereum (ETH) and more.
How can you buy Chiliz (CHZ)?
If you want to invest in CHZ cryptocurrency tokens, go to the Binance crypto exchange. It handles almost 60% of global volume. Alternatively, you can try Huobi Global, which has about 14% of the global volume.
Will the price of CHZ go up?
While nearly all recent analysts' CHZ forecasts are optimistic, the numbers vary widely. However, the CHZ price is expected to maintain its upward trend over the next five years, according to WalletInvestor and DigitalCoin.
Can the Chiliz cryptocurrency reach $1?
According to WalletInvestor, Chiliz encryption could reach $1 in 2022.
