Leading South Korean crypto exchange UPbit, lists seven additional Chiliz football Fan Tokens, joining PSG and JUV.
The price of football Fan Token powerhouse Chiliz is rising this week after its steep drop during the FIFA World Cup 2022. The sports blockchain provider has bounced about 10% in the past week, but still has a long way to go to recover the $0.15 multi-year support line.
Chiliz price movement comes right after the largest South Korean crypto exchange UPbit, announced the listing of seven Fan Tokens released by some of the most established European football clubs. The new Fan Tokens listed are FC Barcelona, AC Milan, Manchester City, Napoli, Inter Milan, Arsenal and Atletico Madrid.
Chiliz CEO Alexandre Dreyfus tweeted the news
Breaking news. The leading Korean platform UPbit (80% market share) just announced the listing of 7 @chiliz Fan Tokens: $ACM, $AFC, $ATM, $BAR, $CITY, $INTER, $NAP. A first since 2020 but also a massive move for a South Korean exchange (had $PSG $JUV)//t.co/d9j6yTAHla pic.twitter.com/EcSOwHIFjG— Alexandre Dreyfus (@alex_dreyfus) January 5, 2023
LookOnChain says two BNB Whales withdrew CHZ from Binance
In addition, the sudden increase in the CHZ market price woke up a few whales on the BNB chain. According to the LookOnChain analytics tool, two BNB whales withdrew over $2 million worth of Chiliz (CHZ) from Binance.
One whale cashed out 8,899,972 CHZ tokens, while the following transaction by another BNB whale took out another 9,435,590. To sum it all up, the aforementioned whales withdrew $2.1 million after UPbit announced the inclusion of seven top European football club fan tokens on their exchange.
After Upbit announced the addition of 7 new fan tokens and only supports Chiliz chain recharge, the price of $CHZ rose by 10%.Whales begin to withdraw $CHZ from #Binance.Address “0xb88e” withdrew 8,899,972 $CHZ($1.02M) and address “0x1c3a” withdrew 9,435,590 $CHZ($1.08M). pic.twitter.com/xoH9i8JRqF— Lookonchain (@lookonchain) January 5, 2023
Despite plunging throughout much of the second half of 2022, the football-related blockchain that powers the Socios.com platform is one of the most used smart contracts this week.
At press time, the #59 ranked altcoin is priced at $0.109588, according to CoinGecko. The team behind Chiliz (CHZ) is in preparation for the launch of Chiliz 2.0. In November, the developers released Scoville Testnet Phase 5, which allows staking and governance on the new testnet.
Socios 2023 plans
CHZ is the go-to blockchain for European football-related cryptocurrencies. Hence, the Socios.com NFT platform has scooped up $20.5M in revenue per year and announced expansion plans for 2023.
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