Chiliz (CHZ) Expands and Seeks Integration with Major Exchanges

One sentence summary – Chiliz (CHZ), a blockchain-based platform for sports and entertainment, is expanding and seeking integration with major exchanges like Binance to increase adoption, despite experiencing a bearish trajectory and reaching a historic low. Signs of exhaustion among CHZ bears have emerged, and recent developments suggest potential accumulation, but the impact of whale activity on CHZ’s future remains a significant factor to watch for traders.

At a glance

  • Chiliz (CHZ) is actively pursuing expansion and integration with major exchanges, such as Binance, to foster increased adoption.
  • Despite a bearish trajectory and reaching a historic low, signs of exhaustion among CHZ bears have emerged.
  • Recent developments, including declines in mean coin age and spikes in transaction volume, suggest potential accumulation.
  • The impact of whale activity on CHZ’s future remains a significant factor to watch.
  • Traders are advised to monitor any pivot in the supply held by top addresses as it may signal the start of CHZ’s next rally.

The details

Chiliz (CHZ), a blockchain-based platform for sports and entertainment, is currently in its expansion phase.

The network aims to integrate with major exchanges, including Binance, in an effort to increase CHZ’s adoption rate and expand its user base.

However, CHZ has experienced a bearish trajectory since November of last year, reaching a historic low of $0.060 recently.

Despite this, signs of exhaustion among CHZ bears have emerged, and the cryptocurrency briefly entered oversold territory during last week’s trading session.

In recent developments, CHZ’s mean coin age has declined, indicating a significant amount of the cryptocurrency changing hands.

Additionally, there has been a spike in transaction volume within the recent bottom range, potentially suggesting accumulation of CHZ tokens.

A positive indicator is CHZ’s Market Value to Realized Value (MVRV) ratio, which has bounced back, implying substantial accumulation.

However, it appears that whales, larger cryptocurrency holders, may be preventing CHZ bulls from reaching their full potential.

Notably, the supply held by top addresses, a metric used to monitor whale activity, has reached its lowest level in the past four weeks.

Analysts suggest that monitoring whale activity and any pivot in the supply held by top addresses would be crucial for CHZ traders, as it may indicate the start of CHZ’s next rally.

Chiliz (CHZ) is actively pursuing expansion and integration with major exchanges, such as Binance, to foster increased adoption.

Despite a bearish trajectory and reaching a historic low, signs of exhaustion among CHZ bears have emerged.

Recent developments, including declines in mean coin age and spikes in transaction volume, suggest potential accumulation.

However, the impact of whale activity on CHZ’s future remains a significant factor to watch.

Traders are advised to monitor any pivot in the supply held by top addresses as it may signal the start of CHZ’s next rally.

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ambcrypto.com
– Chiliz [CHZ] network is in its expansion phase
– Chiliz is working towards integrations with major exchanges, including Binance
– The expansion into multiple exchanges could increase CHZ’s adoption rate
– CHZ has been on a bearish trajectory since November last year
– CHZ recently reached a historic low of $0.060
– CHZ bears are showing signs of exhaustion
– CHZ was briefly oversold during last week’s trading session
– CHZ’s mean coin age declined, indicating a large amount of the cryptocurrency exchanged hands
– There was a spike in transaction volume at the recent bottom range, potentially indicating accumulation
– CHZ’s Market Value to Realized Value (MVRV) ratio bounced back, suggesting significant accumulation
– Whales may be holding back CHZ bulls from reaching their full potential
The supply held by top addresses metric was at its lowest level in the last four weeks
– Whale activity is the biggest factor to watch for CHZ traders
– A pivot in the supply held by top addresses may indicate the start of CHZ’s next rally.

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