On-chain detectives report a large amount of CHZ transfers undertaken by the Chiliz (CHZ) team. These transactions took place on Binance and followed a slight drop in the altcoin price.
Chiliz team piles millions of altcoins into Binance wallet
According to Lookonchain’s report, in the last 24 hours, the Chiliz team has sent 25 million CHZ to Binance. This means a huge transfer of $1.53 million on a fiat basis.
Hours after that, the famous trading firm Wintermute accompanied the team’s transactions. A wallet linked to Wintermute has deposited $1.71 million worth of CHZ (28 million units) on Binance. Altcoin price is currently turning slightly red, trading at $0.06051. A potential sale is strong enough to bring the price down further…
Chiliz Multisig wallet deposited 25M $CHZ ($1.53M) to #Binance 17 hrs ago.https://t.co/ai8XXmWTgS
Wintermute Trading also deposited 28M $CHZ ($1.71M) into #Binance 10 hrs ago.https://t.co/xD6zhXQzzp pic.twitter.com/igfwEGs9tX
— Lookonchain (@lookonchain) August 29, 2023
Lookonchain has currently not reported any sales of the day’s loaded CHZ transfers. As Kriptokoin.com, we will be conveying the details of the development from this page. Worrying transfers aside, Chiliz strengthens its position with its latest moves in the market
Chiliz (CHZ): Strengthening fan engagement via blockchain
Chiliz is both an altcoin and a platform dedicated to sports and entertainment. The unique feature of Chiliz in the altcoin space is that it allows fans to interact with their favorite teams and players through Fan Tokens. Holders of these altcoins will have exclusive access to a variety of experiences, including voting rights and rewards.
Before Chiliz, the gap between fans, celebrities or sports teams was huge. Altcoin project Chiliz has helped bridge that gap. Still, the demand to connect fans with their favorite teams or celebrities is still growing. So Chiliz is ready to meet this demand, making it a truly hidden gem.
In addition, the sports industry is growing at an incredible rate. This will benefit Chiliz even more. It will make it a great altcoin given its significant growth potential.
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