CHZ, the token that powers the sports and entertainment-focused Chiliz blockchain Socios, which enables users to participate in the governance of their favorite sports brands, spiked in value on Thursday. CHZ/USD was last changing hands around $0.1115, up around 7% on the day and up nearly 15% versus late 2022 lows under $0.10.
But the cryptocurrency’s recent recovery has done little to make up for the losses incurred in November and December 2022. From the November highs in the $0.2950 area, CHZ is still down over 60%. The bulk of the losses came in wake of the spectacular collapse of disgraced former crypto billionaire Sam Bankman-Fried’s FTX/Alameda empire.
This Update Triggered the Pump
The CME announced on Wednesday that it is introducing new Metaverse Reference Rates and new Real-Time Indices for Axie Infinity, Chiliz and Decentraland. This will allow investors to track price data more easily using techniques borrowed from the traditional financial industry. This is a positive for CHZ as it gives the cryptocurrency greater legitimacy as a real financial asset and might encourage more investors to add it to their portfolios.
Access transparent pricing with three new CME CF Metaverse Reference Rates and Real-Time Indices for Axie Infinity, Chiliz, and Decentraland, developed in partnership with @CFBenchmarks. https://t.co/K9BXEERSST pic.twitter.com/CySvqEU8uS
— CME Group (@CMEGroup) January 5, 2023
Price Prediction – Where Next For CHZ?
CHZ’s latest pump has seen it rally back to the north of its 21-Day Moving Average at $10.85. But price predictions have not gotten substantially more bullish. A downtrend linking lows in September through to November has come into play as a strong area of resistance. It looks like a return to test support in the form of the 2022 lows around $0.08 is more likely than a rally back to resistance in the $0.145 area in the short term.
Altcoins to Consider
With the broader cryptocurrency market still struggling in early 2023, traders/investors might be looking to diversify their holdings with assets that stand a better chance of posting short-term gains. Here is a list of some of Cryptonews.com’s favorite presale tokens of highly promising crypto projects.
Fight Out (FGHT) – Presale Launches
Fight Out, a brand-new move-to-earn (M2E) fitness application and gym chain that seeks to bring the fitness lifestyle into web3, has opened its pre-sale and investors think the project could transform the existing web3 M2E landscape. While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, Fight Out takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part.
Fight Out’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised over $2.6 million in just a few weeks. FGHT is the token that will power the Fight Out crypto ecosystem.
Dash 2 Trade (D2T) – Presale Enters Final Stage
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.
Dash 2 Trade are about to end a pre-sale that has offered tokens at a highly discounted rate. Sales recently surpassed $13.5 million. The pre-sale dashboard is going to be released soon, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges starting this month.
C+Charge (CCHG) – Presale Now On
The carbon credit industry is projected to be worth $2.4 trillion by 2027. Democratizing access to accrue these benefits is going to massive business in the years ahead and this is something crypto start-up C+Charge hopes to achieve. C+Charge is currently building a blockchain-based Peer-to-Peer (P2P) payment system for EV charging stations that will allow the drivers of electric vehicles (EVs) to earn carbon credits.
C+Charge aims to boost the role of carbon credits as a key incentive for the adoption of EVs. At present, large manufacturers of EVs like Tesla earn millions from selling carbon credits to polluters. C+Charge wants to democratize the carbon credit market by allowing more of these rewards to find themselves in the hands of the EV owners, rather than just the big businesses.
C+Charge has just started its pre-sale of the CCHG token that its platform will use to pay at EV charging stations. Tokens are currently selling for $0.013 each, though by the end of the presale this will have risen by 80%. The project has already raised close to $75,000 in just a few weeks. Thus, investors interested in getting in early on a promising environmentally friendly cryptocurrency project should move fast.
FightOut (FGHT) – Newest Move to Earn Project
- CertiK audited & CoinSniper KYC Verified
- Early Stage Presale Live Now
- Earn Free Crypto & Meet Fitness Goals
- LBank Labs Project
- Partnered with Transak, Block Media
- Staking Rewards & Bonuses