Chiliz, the FIFA World Cup crypto, has seen the price fluctuate caught between a pump, perhaps due to the release of the fourth and final phase of the Scoville Testnet, Cayenne, and a dump. Could CHZ, perhaps now, be experiencing a bearish trend?
Summary
Chiliz: the latest price swings of the CHZ crypto
The FIFA World Cup token, Chiliz, has experienced a price pump, with CHZ moving from $0.19 to $0.22 on 30 October.
Perhaps a way to usher in this month of November, which is particularly important to the Chiliz community, precisely in view of the start of the FIFA World Cup. And indeed, the expectation is precisely that there will be an increase in demand for CHZ, in view of the crypto’s involvement with the soccer organization.
Looking at the chart of these early November days, CHZ has remained above $0.20, touching its high today at $0.248. A price not seen for the entire month of October.
The latest swings, however, leave CHZ’s supportive traders vigilant. And indeed, the chart does not seem to mark an absolute bullish trend, but rather it is an alternating pump and dump that, at the time of writing, put CHZ at $0.235.
Chiliz: the latest news from the FIFA World Cup crypto
But besides being FIFA World Cup month, Chiliz is also receiving praise for its latest news.
Primarily, Chiliz released the fourth and final stage of the Scoville Testnet, Cayenne, which arrived on 24 October.
𝐒𝐜𝐨𝐯𝐢𝐥𝐥𝐞 𝐓𝐞𝐬𝐭𝐧𝐞𝐭 𝐏𝐡𝐚𝐬𝐞 𝟒 – CAYENNE is LIVE! 🌶️
Introducing the Chiliz Chain 2.0 Developer Guide & GitHub repo 🧑💻🎉
All the information you need to start building a local node is now available ✅#ChilizScoville ⚡️ $CHZ
— Chiliz ($CHZ) – Powering Socios.com ⚡ (@Chiliz) October 24, 2022
“???????????????????????????????? ???????????????????????????? ???????????????????? ???? – CAYENNE is LIVE!
Introducing the Chiliz Chain 2.0 Developer Guide & GitHub repo. All the information you need to start building a local node is now available.
#ChilizScoville”
Chiliz Chain 2.0 aims to become the leading blockchain for sports and entertainment brands. The plan is to let creators build Web3 experiences within a secure community driven by network effects.
Not only that, the token issued by the Italian Football Federation has just been offered on many cryptocurrency platforms. A few days ago, Chiliz also launched ChilizX, a token exchange specifically for Chiliz fans.
CHZ: the fan token in sports and entertainment.
CHZ is the token of Chiliz, a company that focuses on offering crypto services in the sports and entertainment sector. Basically, it is used by fans of various teams, and allows them to earn rewards through special betting pools that can make money based on the results of various live sporting events.
For this FIFA World Cup 2022, while CHZ is used directly by the fan community, there are other cryptocurrencies that will be present, albeit as sponsors.
The first to debut by announcing its presence last March 2022 is Crypto.com (CRO). Crypto.com is already known as a brand sponsor of various sports such as Formula1, the Serie A, and for naming itself the stadium of the US basketball team the Los Angeles Lakers.
The long crypto winter, however, has also affected the famous crypto brand of sponsors, which in September had to pull out of its five-year deal with the UEFA Champions League at the last minute.
