Latest Situation in Chiliz (CHZ)! New Rise?

Bringing the crypto and sports universe together Chiliz (CHZ), made a lot of smiles on the face of its investors in the past summer months. Various platforms have recently released new data on Chliliz.

According to the latest data from LunarCrush, which measures the popularity of cryptocurrencies on social media, the number of social interactions of Chiliz reached 9,500 daily, breaking the record for the last 3 months. CHZ price seems to correlate with social media activity in general.

If you are looking for interesting projects to invest in, watch out for social activity eruptions, especially before price.

Eg Keep a close eye on #chiliz. $chz social mentions measured daily hit 9.46K, the highest point in the last 90 days!

Insights: https://t.co/S4Hd87jv4R pic.twitter.com/wLXeapUueD

— LunarCrush (@LunarCrush) October 12, 2022

The biggest reason why Chiliz has been popular on social media lately is the new developments related to CHZ. The developers announced Chiliz Bridge, a major milestone for the network, over the past few weeks. Chiliz Bridge With CHZ token holders, they can use their cryptocurrencies in different ways. blockchain to their networks.

What’s the Latest Situation in CHZ On-Chain Data?

On-Chain analytics platform centimentshared new data on CHZ. According to Santiment, 34% of the CHZ supply was on crypto exchanges, while this rate has increased to 44% recently.

Under normal circumstances, an increase in the supply of a cryptocurrency on stock markets indicates selling pressure. The rise in the price of CHZ as the stock market continues to increase has left many investors confused.

The second data Santiment shared was about whales. According to the chart, while the price of CHZ increased in the last 3 months, whales continued to buy contrary to normal conditions.

While most cryptocurrencies were flat during the summer, CHZ officially rally in the midst of a bear market. $CHZFrom mid-June to the end of August, it gained 200% in value.