Blockchain technologies are infiltrating numerous spheres of human activity, and many people probably have a question: can blockchain technology be used in sports? Yes, it can. In this article, we'll tell you about Chiliz, a blockchain project focused on the sports and esports sector. We'll explore this project's origins and features, conduct technical analysis and learn Chiliz token price predictions.

What is Chiliz (CHZ)?

Chiliz is a blockchain project that combines the Socios platform and the Chiliz cryptocurrency (CHZ). The project aims to strengthen and monetise the bond between fans and their favourite teams and sports clubs.

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Traders glorify the project's teams when it goes up and despise them when it goes down. Yet the 'project' is the same, from one day to another. There is no change. Only emotions. CHZ & Fan Tokens will go up and down, all the time, but we will continue to build ... all the time. — Alexandre Dreyfus, Founder and CEO of Chiliz

The history of Chiliz

Chiliz was founded in 2012 by French entrepreneur Alexandre Dreyfus. In 2016, he had an idea to use blockchain technology to improve the interaction between sports fans and teams.

In 2018, the company began to work actively on the creation of the Socios blockchain platform. In October 2018, Chiliz tokens were issued. Some were distributed among early investors, some were kept by the company, and some were kept in reserve. The rest of the tokens were sold out.

The Socios platform launched in 2019. In November 2019, the platform had its first partner, Juventus Football Club, issuing the JUV Fan Token.

Chiliz currently has over 80 employees. The company is headquartered in Malta with an office in Lyon, France.

Chiliz's features

Chiliz (CHZ) tokens are the internal cryptocurrency of the Socios.com platform. With the platform's help, sports teams and clubs can issue Fan Tokens and sell them. Fans can connect to the platform and purchase CHZ tokens to exchange them for the Fan Tokens. 

Fan Tokens provide voting rights for their owners, unlock VIP rewards, and access to exclusive promotions, team merch, events and communities. Users don't need to spend Fan Tokens to participate in the decision-making process. To vote in a poll, you just need to be a Fan Token holder.

Examples of decisions made when voting with Fan Tokens:

• Pick a message for the captain's armband.
• Choose the warm-up entrance song.
• Choose the motto for the dressing room.
• Pick the training playlist.
• Choose the new team bus design.

Chiliz turns passive fans into active participants that influence the team's life.

Chiliz tokens are also used for trading on the Chiliz Exchange, a platform for buying and selling Fan Tokens.

CHZ is an ERC-20 token, but it's also BEP-2 Binance Chain compliant. The Chiliz blockchain uses the Proof-of-Authority consensus algorithm.

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Chiliz (CHZ) price analysis

At the time of writing, the CHZ token was ranked 55th among cryptocurrencies by market capitalisation at $866,564,090.

CHZ price statistics (as of 3/05/23)

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CHZ's price history

Crypto exchanges started listing CHZ in July 2019. Shortly after the CHZ token entered the crypto market, its price dropped and reached an all-time low on 26 September. The price went up shortly and reached a local maximum of $0.0197 on 4 November 2019. The subsequent decline smoothly turned into a sideways movement, which continued until 2 February 2020. Then, the token price grew rapidly but failed to break through the resistance level at the previous local maximum. The subsequent correction turned into a collapse on 13 March when the price almost reached its all-time low.

The recovery of the crypto market also affected Chiliz. On 14 August 2020, the price broke through the resistance level that it couldn't in March. However, buyers didn't manage to consolidate their success, and after a few days, a correction began. On 28 October 2020, sellers managed to break through the strong support level of $0.01.

On 6 November, the price broke through the $0.01 level again, this time upwards. This was followed by an exponential rise in the price, which peaked on 13 March 2021. After a major correction, the price spiked again in mid-April, but it didn't manage to reach an all-time high. An even deeper correction turned into a summer stagnation. In August, the price rose again, and after a correction in September and sideways movement in October, it rose again on 30 October.

The token didn't fare so well in 2022, as it fell through several support levels to create a yearly low at $0.812. While it may have recovered some, it wasn't enough to take it back to the higher prices it saw in 2021.

When writing this CHZ price prediction on 3 May 2023, the value of the CHZ cryptocurrency decreased by 0.34% from its previous value over the past 24 hours. 

Chiliz was struggling to keep up with other cryptocurrencies, as the CHZ dropped by almost -2.57% in the last seven days. Although the coin has demonstrated robust fundamentals in recent days, we don't believe that it would be a profitable asset in the short term.

Over the past month, the price of CHZ decreased by -1.280%, which amounts to a significant reduction of $0.002 from its current value. This abrupt decline implies that the coin is currently in a dip, which could present a promising opportunity for a quick investment.

The price of CHZ has experienced a -1.20% change over the past 90 days, with the price fluctuating between an average minimum price of $0.12 and an average maximum price of $0.13.

Over the last four months, Chiliz has exhibited a growing trend, suggesting that similar segments of the market were highly sought after during that time. Recent data shows that the trading volume of Chiliz has increased over the past four months. Trading volume plays a critical role in determining the price of the coin.

In the last four months, the coin has risen by 11.48%, with the maximum average price being around $0.14 and the minimum average price around $0.13.

CHZ/USDT CHZ/USDT price chart

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Chiliz technical analysis

As of 3 May 2023, the overall sentiment for Chiliz's price prediction is bearish. Out of the 30 technical analysis indicators, three are signalling bullish signals, while 27 indicate bearish signals. 

Moreover, the price of Chiliz is trading below the 50-day SMA, and this indicator has been signalling a sell trend since 1 May 2023.

The most recent Death Cross in the Bitcoin market occurred 129 days ago, on 25 December 2022, whereas the Golden Cross last occurred on 4 September 2022, which was 241 days ago.

According to the technical indicators, Chiliz's 200-day SMA is expected to decrease in the next month and will reach $0.139371 by 2 June 2023. Furthermore, Chiliz's short-term 50-Day SMA is predicted to hit $0.133910 by 2 June 2023.

Currently, the RSI value for CHZ is 50.58, indicating that the market is in a neutral position.

Chiliz price prediction 2023

In the event of an 'altcoin season' at the end of the year, Chiliz has a good chance of exceeding its current all-time high.

According to Changelly, it is predicted that the price of Chiliz in 2023 will range between a minimum of $0.169983 and a maximum of $0.19998. The average trading price is expected to be around $0.179982.

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Chiliz (CHZ) price prediction for 2023, 2025 and 2030

We've prepared a selection of Chiliz coin price predictions from renowned crypto experts.

TradingBeasts' CHZ price prediction for 2023, 2025 and 2030

TradingBeasts believe that the token price will slowly rise in the coming years, with some small corrections in between. By 2025, TradingBeasts believes CHZ will trade as high as $0.45.

WalletInvestor's CHZ price prediction for 2023, 2025 and 2030

WalletInvestor is quite bearish about CHZ. According to their calculations, the token's price could reach $0.0152 by the end of 2023. In a year, CHZ's price could average $0.0113. The CHZ price could grow to $0.0339 in 2028.

Long Forecast's CHZ price prediction for 2023, 2025 and 2030

Long Forecast predicts that CHZ is not a good investment option for the coming years. Their prediction is so negative that they have suggested the token will fall below $0.07 by the end of 2023. It gets slightly better after that, but not by any significant margin: they predict that CHZ will stabilise between $0.08 and $ 0.11 in 2026.

DigitalCoinPrice's CHZ price prediction for 2023, 2025 and 2030

DigitalCoinPrice predicts slow but stable growth for the Chiliz coin. DigitalCoinPrice's Chiliz price prediction indicates a significant increase in value, with the price of Chiliz expected to rise by 256.46% by the end of 2025. This would bring the price of CHZ up to $0.46.

PickACrypto's CHZ price prediction for 2023, 2025 and 2030

PickACrypto avoids giving exact numbers in its predictions. PickACrypto's CHZ price prediction suggests that between 2023 and 2025, the price of CHZ may range between $0.30 to $1.00 USD. This projection is based on the belief that Chiliz's team will continue to develop their products and achieve increased adoption from their target audience.

Gov Capital's CHZ price prediction for 2023, 2025 and 2030

Gov.Capital has predicted that the Chiliz token's future price will reach $0.453. By 3 May 2024, the CHZ price is expected to average around $0.465. Furthermore, it is estimated that in 2025, the asset's value may average $0.738.

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Chiliz (CHZ) overall future value predictions

The Chiliz project looks promising. The company has a clear vision and business strategy. Chiliz has established partnerships with numerous renowned sports and esports teams and organisations in its relatively short history. It's also worth noting that for Chiliz, cryptocurrency isn't a goal but only a means of achieving goals that lie outside the blockchain industry. Due to its focus on the sports industry, the project can attract new users and active sports fans not previously interested in cryptocurrencies. 

How high can Chiliz go?

Bitnation predicts that the price of Chiliz will reach a maximum of $0.227424 in 2023, and in a five-year perspective, the value of the cryptocurrency may rise up to $0.649935. However, as with any investment, there are always market fluctuations, and it is important to do your own research before investing your money in any project, network, or asset.

Chiliz (CHZ) price prediction today

The crypto market is currently in a bearish trend, with both mainstream coins and altcoins experiencing the effects of selling pressure. CHZ is no exception. 

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