There has been a new development on the Chiliz (CHZ) front, a popular fan token.
According to Lookonchain's post, CHZ Multisig wallet transferred 60 million CHZ (worth $4.33 million) to the “0x220A” wallet 1 hour ago.
Lookonchain also warned investors by pointing out that there was a 12% decrease in the CHZ price after such a transfer took place last time.
“Chiliz Multisig wallet transferred CHZ 60 million (worth $4.33 million) 1 hour ago again to wallet “0x220A”.
The last Chiliz Multisig wallet was 30 million transferred on November 20, worth $2.3 million. “After this transfer, the CHZ price dropped by approximately 12%.”
CHZ, which has decreased by 3.5% in the last 24 hours, continues to be traded at $ 0.0718 at the time of writing.
*This is not investment advice.