On-chain analytics firm IntoTheBlock reviewed popular fan token Chiliz (CHZ) in a post today.
IntoTheBlock, which studies on-chain activity on Chiliz, said that compared to the previous week, there was a large increase in transactions between $10,000 and $1 million on CHZ.
Stating that the CHZ ATH is $ 0.87, the platform stated that only 12.58% of CHZ investors are in profit, and many people buy CHZ starting from $ 0.159.
Pointing out that the increase in large transactions and the purchase of CHZ by many people may herald significant price movements in the near term, the platform said:
“There is significant activity on-chain activity as the mainnet of Chiliz, a blockchain platform that allows sports and entertainment establishments to create digital assets and engage with their fans, approaches.
The all-time high for CHZ was $0.87. Currently, only 12.58% of CHZ holders are in profit. However, as of $0.159, a lot of people bought CHZ.
Besides, there was a huge increase in CHZ transactions last week, mostly large transactions ranging from $10,000 to $1 million.
In any case, they may herald significant price movements in the near term.
There was also a decrease in the number of addresses holding CHZ and an increase in whale dominance during this period, indicating consolidation by a large buyer. The general sentiment in the community is that this buyer is Binance."
1/ @Chiliz is a blockchain platform that allows sports and entertainment organizations to create digital assets and engage with their fans. With Chiliz's mainnet coming up, let's take a look at $CHZ on-chain activity and see what's going on. #CHZhttps://t.co/lN15HQgSGu
— IntoTheBlock (@intotheblock) April 20, 2023
*Not investment advice.