Recently, the Chiliz network has attracted attention due to a sharp rise in activity. This article examines the reasons behind this growth and its implications for the CHZ token.
Surge in Chiliz Network Activity
At the end of June, the Chiliz network recorded a significant increase in activity. The number of transactions surged from 40,000 to 260,000 in just 10 days. This increase was 550%, accompanied by a 3000% rise in the number of active addresses, which surprised observers.
Reasons for Speculative Interest in CHZ
One of the reasons for increased activity is the anticipation of new fan tokens being launched within the Socios ecosystem, attracting teams. Additionally, Chiliz is hosting hackathons for developers, contributing to the rise in active addresses. The potential increase in interest for the CHZ token is explained by the low profitability level for its holders, leading to speculation. According to Glassnode data, over 90% of CHZ is at a loss.
Future Growth Prospects
Currently, CHZ is priced at $0.034, which represents a significant discount compared to historical highs. While the token shows signs of relative strength, such as the RSI rising above 50%, overall interest remains low. For a successful price recovery, the network must continue demonstrating activity, but sustainable demand is still in question.
Therefore, while Chiliz demonstrates activity and community interest, the future of the CHZ token depends on its ability to maintain this growth and attract new interest from investors.
