Chiliz (CHZ) could be set to hot streak with this data

Chiliz (CHZ) is a blockchain technology company aiming to tokenize the sports and entertainment sector.

• CHZ Shows Significant Traction and Rise Despite Bearish Market
• Chiliz partners with huge sports organizations and teams
• CHZ price jumps 6.21% at press time

Chiliz powers major developments and partnerships with the biggest sports organizations and teams around the world.

according to coin market capitalizationAt the time of this writing, CHZ is trading at $0.2161, up 6.21%.

CHZ cooperates with sports clubs

CHZ saw a significant price increase last month after Chiliz signed a partnership with famous Spanish football club FC Barcelona.

The token surged 73% on August 18, hitting a four-month high. This recent price surge has pushed the token to outperform leading cryptos such as Bitcoin and Ethereum.

Essentially, Chiliz is an open platform that allows various sports organizations to create limited, tradable Fan Tokens. This provides fan-exclusive membership perks and perks, access to NFTs, voting rights, and merchandise rewards.

Chiliz has a growing network of football clubs and organizations such as FC Barcelona, ​​Paris Saint-Germain, Manchester City and Atlético de Madrid.

Sports teams partner with Chiliz to provide modern, immersive experiences for their fans, along with brand awareness and marketing.

CHZ Joins Rank Of Top Performing Cryptos

Chiliz is currently 47 years old.th At the time of this writing, it is the largest cryptocurrency with a market capitalization of $1.293 trillion.

CHZ is currently joining the bandwagon of top performing cryptocurrencies on weekends. So far, the coin has managed to surge 9.2% in the last 24 hours.

This may be a minimal spike compared to other coins’ performance, but at the moment, CHZ’s performance is an anomaly given the bearish market.

CHZ recently announced plans to roll out a new Fan Token on September 15th. This has led to more investors buying and trading the coin.

Technical factors also contributed to CHZ’s upward trend. The cryptocurrency was very bearish as it fell from $0.24 to its weekly low of $0.164.

CHZ’s RSI is above 50, indicating strong buying pressure. Chiliz performed relatively poorly last week compared to the previous key support zone retested a week ago.

CHZ total market cap at $1.4 billion on the daily chart | Source: TradingView.com

Featured image from DailyCoin, Chart: TradingView.com

(The analysis represents the author's personal views and should not be construed as investment advice).