Chiliz Heats Up With 10% Rally – Will CHZ Push Higher This Week?

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.

Timeline of Chiliz

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.

Every once in a while, Chiliz [CHZ] secures a partnership in the sports industry thanks to its unique focus on bringing blockchain tech into sports. The network just announced a new collaboration that may involve Non-fungible Token [NFT] technology and privileged access to the pledge video and digital collectables.

Chiliz recently joined the list of crypto projects that have released statements regarding the state of exposure to recent market woes. An attempt at boosting investor confidence in a month that has so far seen an influx of FUD.

There are multiple factors that determine the price of a cryptocurrency, including demand and supply. An increase in the circulating supply without a demand shift may push down the price.

On 8 February, Chiliz [CHZ] announced that its recently launched chain 2.0 had produced its first block. According to the tweet shared by its CEO Alexandre Dreyfus, the event occurred at exactly 8:08 am UTC.

Today, the Chiliz blockchain and its CHZ cryptocurrency, created for the entertainment and sports industry, announced the launch of its new Chiliz Chain 2.0 Mainnet.  Related Reading: Litecoin Sets Eye On $107, But It Needs To Cross This Major Hurdle Alexandre Dreyfus, Chiliz CEO, announced the launch via Twitter.

Blockchain technology company for the sports and entertainment industry Chiliz (CRYPTO: CHZ) is marking its fifth anniversary by rebranding and launching a new layer-1 blockchain. The genesis block of the new EVM-compatible Chiliz blockchain has been validated, and the launch of the new chain is expected to attract more Web3 developers and brands.

Chiliz, a blockchain provider focused on the Web3 sports and entertainment industry, is celebrating its fifth anniversary with a rebranding and then with a piece of big news: the genesis block of the new Layer-1 EVM-compatible Chiliz blockchain, Chiliz chain 2.0, has been validated.