Chiliz Founder Allocates 38 Million CHZ to Bailout Affected FTX Users

The founder of Chiliz is allocating 38 million CHZ to individual users who could not withdraw their funds from FTX. Users can now receive compensation of up to $10,000 as part of this initiative.

Timeline of Chiliz

The Chilliz coin price shows the formation of a megaphone pattern in the daily time frame chart. The coin price retested the pattern's expanding trendline thrice, indicating the trades are following with pattern.

The liquidity crisis at FTX has been the cause of one of the worst market crashes in the history of the cryptocurrency industry. As a result, the prices of many alternative cryptocurrencies (altcoins) traded on crypto exchanges have seen much price volatility over the last week.

Chiliz confirmed that its new Proof-of-Staked-Authority chain was in its testnet phase. The recent market correction caused the price of CHZ to rally and put many of its holders in profit.

After recording losses in the recent period, cryptocurrency prices saw some rebound this morning, with prices for Bitcoin (CRYPTO: BTC), the most valued cryptocurrency in the world, moving above the $17,000 level on Friday. Ethereum (CRYPTO: ETH) also recorded gains, trading above the $1,300 mark on Friday.

The FIFA World cup is around the corner, and the anticipations are high for the Chiliz ecosystem. But it is still trading at a monthly low The post Chiliz Drops to Monthly Low Despite FIFA World Cup Incoming appeared first on BeInCrypto.

Following the market downturn on 8 November, Chiliz [CHZ] broke out of a rising wedge to suffer a 17%  price decline in the last 24 hours Buying pressure declined significantly on a daily chart as sellers controlled the market Most CHZ holders incurred losses on their investments in the past 24 hours At the time

The number one sports altcoin, Chiliz has been chilling with impressive gains this past week. Although it has traded in the red zone for most of today, CHZ still holds over 30% gains from the last seven days.

Can the 20/50 EMA bullish crossover support Chiliz's bullish efforts in the coming days? The altcoin saw a decline in daily active addresses but maintained a relatively high market cap dominance.

Not so long ago, we highlighted why November was an important month for Chiliz and CHZ by extension. A look at CHZ's performance in the first week of the month confirmed that investors have been capitalizing on opportunities.

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. Successively, marketers are still keen on developments around Chiliz, and investors are curious about Chiliz's (CHZ) price prediction for 2022–2025.