As communities get ready for the FIFA World Cup 2022, the popularity and value of Chiliz (CHZ/USD) have increased.
Chiliz is a cryptocurrency designed for sports and entertainment in which each sporting organization can use its network to produce fan tokens.
FIFA World Cup hype as a catalyst for growth
Chiliz is a platform that enables sports fans to interact with their preferred sporting organizations. They achieve this by receiving incentives, bonuses, event tickets, and shopping chances.
In the most recent Chiliz news, its native cryptocurrency, CHZ, has seen a 31% gain in the past week due to Chiliz’s appeal as a crypto technology within the sports business.
The CHZ token is used to purchase fan tokens and even acts as the platform’s internal currency.
Chiliz also runs Socios, a blockchain-based sports entertainment platform where users can vote with their tokens using smart contracts.
Beginning on November 20, the FIFA Football World Cup 2022 will increase demand for CHZ, fan tokens, and platform usage. Is this the ideal time for investors to add CHZ holdings to their portfolios?
Should you buy Chiliz (CHZ)?
On November 4, 2022, Chiliz (CHZ) had a value of $0.24242.
The Chiliz (CHZ) cryptocurrency reached its all-time high on March 13, 2021, when its price rose to $0.878633. At its all-time peak, CHZ was worth $0.636213 more, or 262% more.
We’ll examine its history to see whether it has been bullish or bearish to better understand its current price point.
The seven-day price performance of Chiliz (CHZ) showed that its low point was $0.189437 and its high point was $0.248013. The token experienced a bullish run, rising by $0.058576 or 31%.
Moving on to more recent performance charts, we can see that its low point on the previous day was $0.231529, and its high point was $0.243793. This represents only a 5% increase, or $0.012264.
Investors who want to make money with cryptocurrencies should purchase CHZ since, by the end of November 2022, CHZ is predicted to increase to $0.4.