Chiliz, a first of its kind crypto exchange for sports, with fan tokens trading feature token, has skyrocketed in the last fortnight, making huge money for early investors.
This utility token has surpassed market leaders Bitcoin and Ethereum too, according to data as of month to date gains it’s up 1600%.
Bitcoin is achieving all-time highs like never before, what this means for Altcoins is a never-seen-before Altcoin season, in the forefront fueling the way for Chiliz to surge higher.
The Rise of Fan Tokens
March has been a great month for sports tokens, as they have outperformed exceedingly. Many of which Chiliz provides the infrastructure to, these tokens include Chiliz itself and tokens of leading football clubs like Barcelona FC and Paris Saint Germain
Major football club tokens have spun their fortune with great growth this month.
According to the CEO of Chiliz, Alexandre Dreyfus the blockchain has seen 400,000 active wallets on March 14.
The bullish move for Chiliz could be predicted when the exchange OKEx enabled margin trading for the token, after which it rose to an all-time high of $0.86
Recently Chiliz announced its spending of $50 Million on expansion into US sports leagues, they are partnered with 23 sports organizations including some giants like FC Barcelona, Juventus, and Paris Saint – Germain.
A week ago it surpassed the $1 Billion market cap, with the craze for the fan tokens increasing. They launched the AC Milan fan token on the Binance exchange which earned $6 Million in just 30 minutes.
With the current market trend, huge demand for sports tokens, and booming NFT scene, Chiliz is expected to have a strong bull run in the future.