- CHZ may see renewed curiosity due to its latest announcement about new token listings
- CHZ witnesses incoming curiosity from the bulls
The Chiliz community introduced the itemizing of 16 fan tokens on MEXC International. This was one of many community’s largest collective listings that it has ever introduced. Nonetheless, may this supply any significance to CHZ’s efficiency?
Learn Chiliz’s (CHZ) value prediction 2023-2024
Fan token listings for tokens made via Chiliz are necessary for the community’s neighborhood. It is because they underscore the upsurge within the community’s adoption charge. For this reason the announcement that Chiliz simply listed 16 new fan tokens may be of significance. Particularly from a market sentiment perspective.
To rejoice the most recent 16 Fan Token listings on @MEXC_Global, we’re making a gift of $2,000 value of $CHZ! 🥳
1⃣ Observe @Chiliz & @MEXC_Global
2⃣ Full the Gleam duties to unlock extra rewards: https://t.co/BFeIxmEobt⚡️ $CHZ https://t.co/dk03PGK7vD
— Chiliz ($CHZ) – Powering Socios.com ⚡ (@Chiliz) December 20, 2022
However can this new collective itemizing on MEXC International present a glimmer of hope for CHZ holders? CHZ’s value motion is at present down by roughly 60% since 19 November.
This consequence helps the “purchase the rumor, promote the information” premise as a result of CHZ beforehand demonstrated bullish energy earlier than the beginning of the FIFA world cup.
Quick ahead to the current and CHZ is now buying and selling at $0.11 and it simply dipped into oversold territory. This meant that CHZ was ripe for a possible bullish uptick however will we see a resurgence of bullish demand?
CHZ’s cash move indicator means that it’s already experiencing some inflows. Maybe the brand new token listings could improve the present investor sentiment for CHZ particularly now that it’s already in oversold territory.
CHZ’s weighted sentiment additionally confirmed that buyers had been shifting their stance and leaning in the direction of the bullish aspect.
The weighted sentiment metric registered a large uptick within the final two days. However this wasn’t the one metric that was underscoring a sentiment shift. The Binance funding charge additionally registered an upside within the final three days. This confirmed that the general demand was bettering within the derivatives phase.
One of many positive methods of confirming whether or not there may be a large market transfer was to look into whale exercise. CHZ’s provide held by prime addresses as a proportion of complete provide registered a rise within the final two days.
The above consequence additionally confirmed that the most important whales weree certainly accumulating CHZ. This was excellent news as a result of it underscores a better likelihood of a bullish reduction rally. All this appears high-quality and dandy however there was one key statement that buyers and merchants ought to be aware of.
A 246.09x hike on the playing cards if CHZ hits Ethereum’s market cap?
CHZ alternate inflows within the final two days outweighed the alternate outflows. This might occur as a result of massive spike in alternate inflows by as a lot as $73.75 million value of CHZ throughout the buying and selling session of 20 December.
The alternate flows additional indicated that there was now a better quantity of liquidity sitting on exchanges. A possible affect of this statement was that it would restrict the potential upside.
Nonetheless, the altering sentiment could yield a large rally within the second half of the week.