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- Chiliz (CHZ) has surged over 20% in the past week, drawing attention among the top 100 cryptocurrencies by market capitalization.
- The CHZ token experienced a significant rise ahead of the UEFA European Football Championship (Euro 2024), reminiscent of its pre-2022 FIFA World Cup surge.
- “The recent 25% price increase has pushed CHZ above $0.15, reaching its highest level in two months,” according to Coingecko data.
Discover the latest surge in Chiliz (CHZ) as it gains momentum ahead of Euro 2024, echoing its pre-World Cup performance. Stay informed with key insights and market analysis.
Chiliz’s CHZ Token Surges Ahead of UEFA Euro 2024
In the past week, CHZ has risen over 20%, making it the third-largest gainer among the top 100 cryptocurrencies by market capitalization. CHZ, the native token of the Chiliz blockchain, powers Socios.com, the leading fan token platform.
The recent 25% price increase has propelled CHZ above $0.15, reaching a two-month high. According to Coingecko, prices peaked at $0.16 earlier today, marking a three-week high. The anticipation surrounding Euro 2024, scheduled for June 14 to July 14, has significantly boosted CHZ’s valuation.
Increased Demand for Fan Tokens on Socios.com
As fans prepare to engage with their favorite teams, the demand for fan tokens on Socios.com, powered by CHZ, has surged. This increase reflects the growing interaction between sports enthusiasts and teams. In comparison, a more substantial rise was observed before the 2022 FIFA World Cup. CHZ doubled its value in the summer of 2022, reaching approximately $0.30, and peaked just before the event started on November 20, 2022.
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However, the token’s price dropped by about 40% in December of that year. Investors should be cautious of a potential repeat of this scenario.
Conclusion
In summary, Chiliz’s CHZ token has experienced a notable surge ahead of Euro 2024, driven by increased demand for fan tokens on Socios.com. While the current trend mirrors the pre-2022 FIFA World Cup performance, investors should remain vigilant of potential price corrections. Stay tuned for further developments as the event approaches.
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