Chiliz is a sports-themed cryptocurrency that has seen tremendous growth recently due to developments associated with the Chiliz ecosystem. Chiliz is often powered by the Chiliz blockchain, which has recently announced the launch of a new blockchain set to fuel the demand for the native CHZ token.

At the time of writing, the token is on the bullish trend and have seen a 10% rise in the last seven days. This surge in the market is due to the rising sentiments associated with cryptocurrency in general and this could be a great opportunity for investors and traders to target $0.1664 in the long run.

Posting on the Chiliz Twitter account, the blockchain platform mentioned the upcoming launch of their new Sports Blockchain. This new development will further fuel the Chiliz ecosystem, helping it reach new heights. Furthermore, Socios.com, which is also powered by the Chiliz blockchain, is asking the public to vote on who they want to see on the next fan tokens as part of the UFC Season 287 show. This much-awaited event is expected to bring in large revenue of $609 million and will drive demand for the Chiliz fan tokens, Palmeiras tokens, and the CHZ tokens in general.

The CHZ tokens are currently trading only a few decimal points away from the $0.1308 resistance level and could easily break it to reach the long-term target of $0.1914. Traders should monitor the major cryptocurrencies and use the general momentum to capitalize from the up and coming launch of the new Chiliz blockchain. Individuals interested in CHZ should keep a close eye on the prices and keep flipping the $0.1308 resistance as support for a successful future trading journey.



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