Chiliz (CHZ) Recently Launched Chain Hits Significant Milestone: Details

The Chiliz Chain has hit a significant milestone barely months after its launch. According to an exciting Twitter announcement, the Chiliz chain has surpassed 100,000 wallet addresses and 500,000 transactions.

Timeline of Chiliz

After a bearish period, Chiliz (CHZ) has experienced a bounce-back, reaching a bottom and showing signs of potential bullish volume. Recent developments, such as being whitelisted by the Indonesian government, have boosted CHZ bulls, offering a positive catalyst for investor confidence.

The probability of a bullish bounce for Chiliz is higher now that whales have been buying. Nevertheless, the level of excitement remains low and this is reflected in CHZ's on-chain volume.

Chiliz, the leading blockchain provider for the sports industry, has officially launched the public Chiliz Chain mainnet, marking the beginning of the next phase in its mission to improve the relationship between fans, communities and their favourite teams and brands through blockchain technology.

Chiliz (CHZ) price crashed 8% on April 20 despite a series of token burns across the Socios fan token ecosystem. Bearish concerns are growing as Chiliz holders pile on sell-pressure on exchanges.

Chiliz is looking to spice things up in the Champions League and it plans to do that through fan token burns. A move that may revive interest in fan tokens and reveal more about how Chiliz and socios plan to shape the future.

Chiliz Price Prediction: In the last four months the CHZ price bounced back twice from the $0.1 psychological support indicating the buyers are actively accumulating at this support. Moreover, in the daily time frame chart these two reversals showcase the formation of a bullish reversal pattern called the double bottom.

Chiliz, the sports-themed cryptocurrency, has been making great strides following news related to the broader Chiliz ecosystem. Chiliz's official Twitter account revealed that the ecosystem will launch a new blockchain that is expected to drive the demand for the ecosystem's native token.

The Chiliz [CHZ] network has achieved an important milestone as part of its global expansion journey. The network announced on 30 March that it was now licensed to operate as a virtual asset services provider in Spain.

The dawn of the alt season in the bygone year had pumped the majority of Ethereum-based tokens. Chiliz was one of the innovative projects, which was occupied with impeccable pricing action throughout the year. Chiliz has a promising market cap.

According to Alexandre Dreyfus, the founder of Chiliz [CHZ], wallets on the project's first version surpassed two million. Dreyfus, who tweeted about the development, noted that the blockchain-based sports network would use the inspiration as a drive to improve the Chiliz Chain 2.0 (CC2) ecosystem.