Chiliz (CHZ) is a prominent cryptocurrency in the sports and entertainment sector, designed to engage fans through blockchain-based products. As of early July 2024, the token is navigating a dynamic market phase. This article provides a comprehensive overview of its current status, technical outlook, and essential fundamentals.
Current CHZ Market Performance
The live Chiliz price today is **$0.0357**, reflecting a decrease of **-3.43%** over the last 24 hours. Trading activity remains robust, with over 855 million CHZ coins exchanged in the same period, generating a trading volume exceeding $30.5 million. CHZ is actively traded on 61 major exchanges globally.
Today’s session began at $0.0366. Despite a brief rally to $0.0367, the token encountered selling pressure and failed to sustain upward momentum. It is currently down -2.57% from its daily opening price.
When examining broader timeframes, CHZ shows a decline of -12.90% from its 30-day high and -5.02% from its 7-day peak. However, it has gained 15.92% from its 30-day low and 6.12% from its weekly low, indicating potential support levels are holding.
Technical Analysis and Key Levels
Based on recent price action, CHZ must maintain support above $0.0308** to avoid further declines. Holding this level could set the stage for a move toward the first major resistance at **$0.0443.
A decisive break above $0.0443 might propel the token toward the second resistance level at **$0.0588. Beyond that, the third significant resistance stands at $0.0692**. Traders and investors are closely monitoring these thresholds for signs of trend reversal or continuation.
Understanding Market Capitalization and Valuation
Market capitalization is a key metric representing the total value of all circulating CHZ tokens. It is calculated by multiplying the current price by the circulating supply. Chiliz currently holds a market cap of approximately $329 million, ranking it #136 among all cryptocurrencies.
Fully Diluted Valuation (FDV) offers a theoretical maximum market cap if all tokens were in circulation. It is derived by multiplying the current price by the total or max supply. This figure helps assess long-term valuation potential.
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Chiliz (CHZ) Token Essentials
Launched in October 2018, Chiliz operates as a digital currency for sports fan engagement. It powers the Socios.com platform, where users can purchase branded fan tokens to influence team decisions, access rewards, and participate in exclusive events.
There are over 19 tokens built on the Chiliz chain, representing various sports franchises and organizations. The circulating supply of CHZ is 9 billion coins.
All-Time High and Historical Performance
CHZ reached its all-time high of $0.744356** on March 13, 2021. Since then, the token has experienced a significant correction. The lowest price recorded after the peak was **$0.030793, meaning the current price is up roughly 15.92% from that bottom.
Over the past 52 weeks, CHZ has traded between a low of $0.0308** and a high of **$0.1425, demonstrating considerable volatility alongside broader market trends.
Comparative Market Analysis
Among the 812 cryptocurrencies launched in 2018, Chiliz boasts above-average trading volume. While the median trading volume for peers is around $9 million, CHZ consistently sees over $31 million in daily volume, reflecting strong investor interest and liquidity.
Category Rankings and Sector Position
Chiliz holds leading positions in several cryptocurrency categories based on market capitalization:
- Payments: Ranked #14
- Sports: Ranked #1
- Layer 1 (L1): Ranked #42
Its dominant position in the sports category underscores its pioneering role in merging blockchain technology with fan-based economies.
Frequently Asked Questions
What is Chiliz (CHZ) used for?
CHZ is the native cryptocurrency of the Chiliz blockchain, primarily used to buy fan tokens on the Socios.com platform. These tokens grant fans voting rights in club polls, access to exclusive NFTs, merchandise, and unique experiences with their favorite teams.
How can I buy Chiliz tokens?
CHZ is available on numerous major cryptocurrency exchanges. You can purchase it using stablecoins, Bitcoin, or fiat currencies depending on the platform. Always ensure you use a secure and reputable exchange for your transactions.
What determines the price of CHZ?
The price is influenced by overall crypto market trends, adoption rates of the Socios.com platform, new partnership announcements with sports organizations, and broader investor sentiment toward fan engagement tokens.
What is the long-term vision for Chiliz?
The project aims to become the leading blockchain infrastructure for the sports and entertainment industry, enabling deeper fan engagement through decentralized applications, tokenized assets, and interactive experiences.
Is Chiliz a good investment?
Like all cryptocurrencies, CHZ carries investment risks due to its volatility. Its unique positioning in the growing sports-tech sector presents potential, but thorough personal research and risk assessment are essential before investing.
What is the total supply of CHZ?
The maximum supply of Chiliz is capped at 8.88 billion tokens. The circulating supply is currently over 9 billion, with the discrepancy likely due to reporting differences or temporary economic factors.