Friday, June 9, 2023
HomeTop NFT CollectionHow Chiliz NFT collection launch may offer therapy for CHZ investors

How Chiliz NFT collection launch may offer therapy for CHZ investors

  • Chiliz will launch the Scoville NFT shortly after its recent Testnet phase.
  • An increase in active addresses did not guarantee a rise in CHZ.

according to the official Chili’s [CHZ] The Twitter page will launch the NFT collection within 48 hours of press time. For context, the Scoville NFT collection forms part of the project’s plans. Chili’s Chain 2.0.


Realistic or not, here it is Market capitalization of CHZ in BTC terms


CHZ: To offer a remedy?

Recall that blockchain-based projects partnered with Chainlink. [LINK] In 2020, it will facilitate NFT mining through its network.

However, this NFT collection case paves the way for the Scoville Testnet phase, which offers users an enterprise-level blockchain solution.

Chiliz’ communiqué also mentioned that digital collectibles come in seven different rarities.And this is spicy tesnet Succeeded on January 25th.

As the event draws near, CoinMarketCap showed that the CHZ value increased by 2.08% over the past 24 hours. Similarly, trading volume during the same period also increased.

The 24-hour uptrend of 38.47% means that a relatively large number of transactions occurred through the Chiliz network. But will the launch of NFTs improve CHZ’s performance?

According to the daily chart, the token is unlikely to continue rising in the short term. This was due to an indication from the Exponential Moving Average (EMA).

At press time, the 50 EMA (orange) was positioned above the 20 EMA (blue), but the latter was closing in on the former.

Even if 20 were to exceed 50, a significant price increase is unlikely. Further action from the directional index (DMI) above has provided another scenario for CHZ.

At the time of writing, the positive DMI (green) was 29.95. On the other hand, the minus (red) was 11.86. Such wide margins show that buyers are in control of the market. A yellow Average Directional Index (ADX) well above 25 could offer an uptrend opportunity for CHZ.

Source: Trading View


How many people 1,10,100 CHZ What is today’s value?


The volume of the NFT is jerky, but…

However, metrics may not be the only determinants of possible performance.In the past, NFT collections have been launched with projects like polygon [MATIC] When Axie Infinity [AXS] There was no guarantee that tokens would perform better.

moreover, santimento Chiliz Network has revealed that NFT trading volume has reached its highest level since January 20th. Still, this did not confirm the growing interest.

But on the bright side, Chiliz has picked up a number of active addresses in the last 24 hours. At the time of writing, the metric is a whopping 3013, which means many unique his users have used Chiliz to send and receive tokens.

Chiliz Active Address and NFT Volume

Source: Santimento

RELATED ARTICLES
- Advertisment -
Google search engine

Most Popular

Recent Comments