Some crypto niches have seen strong growth amid the market decline. One of them is Fan Token, which has found a lot of momentum of growth over the last two months as World Cup 2022 is about to take place in Qatar in November.
When it comes to Fan Token, Chiliz is a name not to be missed. Chiliz (CHZ) is the exclusive digital currency of Socios.com, the world’s leading Fan token issuer. With the Habanero mainnet – an important part of the mainnet deployment to the new layer 1 blockchain Chiliz Chain 2.0 (CC2) – scheduled to launch in Q4 2022, CHZ is expected to grow strongly ahead of World Cup 2022.
CHZ price has rallied up to 47% over the last week despite the market crashing because of Bitcoin’s price volatility. At the time of writing, CHZ is trading at $0.2629. However, the hype surrounding CHZ not only comes from the community and the project itself, but also has the participation of big players. Up to 60%, or 6 billion USD CHZ is held by whales, the rest is distributed to retail investors.
The launch of the CHZ Scoville testnet for the CC2 network in March 2022 brought CHZ to $0.30 and then CHZ quickly plummeted to $0.10. The case of World Cup 2022 may not be an exception. Chiliz has basically had a good year, however it seems there will be no new cash flows into this niche. Bitcoin is struggling to recover and whether CHZ can maintain its growth momentum or is it like ETH that rose to $2,000 and then dumped sharply below 1,400 after The Merge? All are unanswered questions so investors should consider carefully before making any decision at this time.
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