Chili’s: network development, electoral transactions and more behind the CHZ pump

  • Chiliz recorded an increase of about 20% per week and also remained popular among whales.
  • Chiliz will soon be announcing the final stage of this year’s Scoville Testnet.

Chili pepper [CHZ] It remained popular among whales as it was one of the 10 most bought tokens among the top 500 Ethereum whales, according to a January 10 WhaleStats tweet.

how many CHZ You can get it for $1?

Voter confidence in CHZ reflects that the token is still long, and results may be starting to show as well. Over the past week, the price of CHZ has increased by almost 20%.

According to CoinMarketCap, CHZ registered 7% increase in the last 24 hours. At the time of writing, it was trading at $0.1226 with a market capitalization of over $815 million.

Decipher the underlying causes of the CHZ pump

Thanks to the current bull market, most of the cryptocurrencies have posted gains. But apart from that, several developments have taken place in the Chiliz ecosystem, which may have served as the basis for the current price pump.

Chili pepper He recently posted a tweet highlighting all the notable updates from 2022 in an annual digest.

One of the most important updates was the launch of the Chiliz Scoville Testnet, the Chiliz Chain 2.0 public testnet. The announcement was made in March 2022, but since then the test network has come a long way.

As of today, Phases 1-5 of the Scoville Testnet have been launched and tested, and Chiliz will soon announce the final phase in 2023.

To date, the testnet has processed more than 9.8 million transactions and more than 385,000 wallets.

500.25 times high on the cards If CHZ reaches the market cap of Bitcoin?

How was the New Year?

Chiliz’s performance on the metrics front has also been promising since the beginning of this year and current pump support. For example, CHZ Demand in the derivatives market has remained flat as Binance has a relatively higher funding rate. The CHZ stock market flow also increased last week, which was a bullish sign.

Source: feeling

In addition, the speed of CHZ increased, which increased the chances of another increase. But despite being one of the most bought tokens among whales, CHZ’s headline-grabbing offering has been dropNoting that major investors were on their way out.

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