Crypto Chiliz (CHZ) jumped 40% in 7 days on football By Investing.com
Investing.com – Up 18% in 24 hours and up more than 40% for the week, the cryptocurrency is by far the top performer in Tuesday morning’s Top 50 Cryptocurrencies.
More precisely, Chiliz was moving towards $0.16 on Sunday morning and posted a high of $0.2150 on Tuesday morning, which is more than 34% in 48 hours.
And if Chiliz is doing much better than most other cryptocurrencies, it’s because of the 2022-2023 European football season, which is in full swing and of particular importance to Chiliz given last week’s announcements. .
Indeed, FC Barcelona, one of the most prestigious football clubs in Europe, announced last week a multi-million dollar partnership with Socios.com, a blockchain-based sports fan engagement platform.
Chiliz, which owns and provides technology to Socios.com, will invest 100 million euros to buy almost a quarter of Barca Studios, which manages the club’s audiovisual production and digital business offering.
The investment comes after Socios.com began working with the club in February 2020 with the launch of FC Barcelona’s “fan token” called BAR.
This positive news, along with generally positive market sentiment (at least yesterday) with tests above $25,000 for BTC and above $2,000 for ETH, also contributed to Chiliz (CHZ) rising.
Finally, from a technical point of view, and in the short term, we will consider the current resistance around 0.2150 and support around $0.2000 for Chiliz.