Chiliz Blockchain’s Cryptocurrency CHZ Gains Significant Value
Chiliz Blockchain’s cryptocurrency CHZ has seen a 25% surge in price within seven days, reaching a two-month high and surpassing the $0.15 mark. CHZ is used on Socios.com, a platform that creates fan tokens for sports teams.
The rise of CHZ is similar to the 2022 FIFA World Cup, where CHZ doubled its value before the event but experienced a 40% drop in December. Analysts predict a similar scenario for the UEFA European Championship, with potential gains until mid-June but warning of a possible sell-off wave after the event.
The “Buy the rumor, sell the news” phenomenon is confirmed, as sports tokens tend to experience price increases before significant events and then drop once they conclude. Investors may explore the opportunities presented by CHZ, but sudden drops following these rises pose significant risks.
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