Over the past seven days, Chiliz (CHZ) has emerged as one of the standout performers in the altcoin market, experiencing a remarkable gain of over 20%.

Renowned for its innovative niche in sports and entertainment, Chiliz stands out as the premier digital currency tailored for this sector. 

Through its unique blockchain-based platform, users can actively participate in the management of their favorite sports organizations and entertainment ventures, revolutionizing fan engagement and ownership dynamics.

Recently, Chiliz made a significant breakthrough by surpassing a key resistance level in the cryptocurrency market.

This achievement underscores the growing confidence and adoption of the token among investors and enthusiasts alike.

The recent price surge of CHZ, which has seen its value climb from $0.05 to $0.14 since October, has resulted in a notable shift in investor sentiment. 

$CHZ price recovering from $0.05 to $0.14 since Oct leads to 40% of holders beeing “in the money” today

46k = profit (40%)
3k = break even (2%)
68k = loss (59%)$CHZ reaching e.g. $0.30 would mean another 35k holders would turn profitable on their position pic.twitter.com/lx8u0RoMiK

— Playmaker (@PLMKR10) February 28, 2024

40% CHZ Holders Are Currently On Profit

Presently, 40% of CHZ holders find themselves “in the money,” experiencing profits from their investment.

This translates to approximately 46,000 holders who are currently in a profitable position, representing a significant portion of the CHZ investor base.

However, there remains a segment of investors who are yet to break even or are experiencing losses.

Approximately 2% of CHZ holders, totaling 3,000 individuals, are currently at break-even, while 59% of holders, accounting for 68,000 individuals, are experiencing losses on their investment.

Looking ahead, the potential for further gains in the price of CHZ remains promising. If CHZ were to reach a price point of $0.30, an additional 35,000 holders would find themselves in a profitable position, further bolstering investor confidence in the cryptocurrency.

As of today, CHZ is trading at $0.14, reflecting a 2% gain for the day, signaling continued positive momentum for the digital asset.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Filed under: Bitcoin - @ February 29, 2024 2:19 am