We already talked about the resistance of the CHZ to the bear market in this article.
Having soared over 200% since June, the crypto CHZ maintained most of its gains while Bitcoin returned all of those gains over the same period.
According to Santiment, a blockchain and cryptocurrency analysis agency, whales have been buying CHZ in droves since March and continue to gain exposure to this fan token crypto.
On August 22, Chiliz creator Alexandre Dreyfus announced that his network would stop using the Ethereum network to issue its fungible and non-fungible tokens in favor of its own native chain, ChilizChain 2.0 (CHZ 2.0).
This latest blockchain will be focused on entertainment and Web3, leveraging existing fan tokens as well as those to be launched in the future.
This was welcomed by investors although a departure from Ethereum could deprive the project of some liquidity.
The launch of CHZ 2.0 will carry this cryptocurrency as does The Merge for Ethereum. The channel is scheduled for the last quarter of 2022.
Chiliz and football
The main driver of Chile’s rise lies in its relations with clubs and football federations. In addition to collaborating with Arsenal FC, the Socios platform and Chiliz have also launched a series of initiatives aimed at giving the project more prominence.
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The Argentine Football Federation (AFA) said blockchain platform Socios will continue to be the federation’s exclusive partner for fan token issuance until 2026.
These announcements and the mobilization of supporter tokens or fan tokens such as those of Argentina, Juventus, FC Barcelona, PSG and other teams, bodes well for investors on the eve of the World Cup. Qatar 2022.