Chiliz (CHZ) has been making giant strides in the market. The coin, known for powering Socios.com, has witnessed massive whale activity over the past few days.
The crypto project is also undertaking new partnerships to expand its footprint. With the coin performing tremendously, users are wondering whether it can hit the $1 mark soon. Although making the prediction is difficult, here is everything to know that can help traders understand it better.
Whale activity hinting at potential growth
For the past several days, whales have been gathering massive amounts of Chiliz tokens. A report by FXStreet revealed that over 16 billion CHZ coins are in whales’ possession. This activity directly translates to growing confidence in the CHZ project.
Moreover, the community sees whale activity as a sign of upcoming price hikes. That is why the coin managed to hit its 6-week high in late May. According to analysts, this hike can be a trigger to start the potential 4x ROI run for CHZ holders.
New partnerships, new opportunities
In addition to the whale movement, CHZ has also piqued market attention with its new partnerships. The collaborations have the potential to boost CHZ’s long-term growth. Here are some of the initiatives it has joined over the past few months:
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SBI Digital Asset Holdings – A partnership with one of Japan’s most influential institutions paves the way for CHZ to enter the Japanese market. The projects are looking forward to launching fan tokens in Japan, which will bring a wave of new clients to the country.
Naver Pay: The South Korean payment giant Naver Pay has also partnered with CHZ. The integration will streamline the fan token purchase process for new users and facilitate CHZ’s widespread adoption in the Korean market.
Atletico de Madrid: The renowned Spanish football club, Atletico de Madrid, is working with Chiliz to help fans partake in exclusive club experiences. This increases the appeal and utility of the Chiliz tokens among football fans. A few more similar sports partnerships will allow the token to expand its value severalfold.
Can CHZ hit $1?
In the past week alone, Chiliz has gained 9.22% of its value and is currently trading at $0.1371. Chiliz is currently in the process of forging new partnerships, which suggests that the coin is on the brink of experiencing significant growth.
According to the latest CHZ coin price prediction, the token can hit the $1 mark very soon. For that to happen, Chiliz must undergo a fivefold growth period in the upcoming months.
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To appeal to a wider audience, the coin must expand its utility and technological prowess. Frequent high-profile partnerships are another viable way to maintain market relevance.
