What is Chiliz Price Going to Do After the World Cup Disappointment?

With the World Cup approaching the highly anticipated knockout stages of the competition, things haven’t gone quite as planned for Chiliz (CHZ) traders. As a result, the cryptocurrency is now down by a whopping 30% over the past fortnight of trading as the token falls to $0.165 at the time of writing.

Traders were optimistic about CHZ in the lead-up to the FIFA World Cup as the fan token ecosystem was expected to gain significant exposure with the eyes of the world on the sport that drives the Chiliz ecosystem – football.

The cryptocurrency did see a significant surge following the price collapse caused by the FTX fallout, which caused CHZ to plummet from $0.28 to reach as low as $0.15. From there, it managed to surge over 80% to reach as high as $0.27 in the ten days leading up to the FIFA World Cup.

Unfortunately, CHZ has fallen off a cliff since then after dropping 30% and hitting the current $0.165 level. In fact, CHZ is actually down by a total of 40% since the FIFA World Cup started.

It seems that the fan token ecosystem didn’t manage to generate enough attention during the FIFA World Cup itself, causing any momentum generated in the lead-up to dissipate and the price to collapse.

With Chiliz seeing little positive movement as the World Cup progresses, many are starting to wonder about the future price for the token after the FIFA World Cup disappointment.

What is Chiliz?

Chiliz is a cryptocurrency that provides sports fans with unique experiences with their favorite sports teams. It describes itself as the world’s leading blockchain fintech provider for sports and entertainment.

The token utilizes blockchain technology to allow fans to have a direct engagement with their favorite sports teams. Fans can purchase Fan Tokens of their favorite teams using the CHZ token itself as a payment method through socios.com – a crowd management platform created by Chiliz.

Through socios.com, Chiliz has partnered with significant giants in the sporting industry. These include Fan tokens such as

• AC Milan
• Aston Villa
• Argentina
• Arsenal
• Manchester City
• Everton FC
• Barcelona
• Juventus
• Paris Saint-Germain

The unique experiences fans can enjoy are decided by the teams partnering with Chiliz. For example, some teams provide meet and greet with players, while others offer a more in-depth influence over teams, such as deciding new sports kit designs, celebration songs, and naming the stadium. Some teams have even allowed their fans to determine the starting lineup for specific games.

As Chiliz is a fan token ecosystem that is predominantly focused on football, investors were highly hopeful for some price appreciation during the FIFA World Cup event. Unfortunately, the opposite effect seems to have taken place.

Chiliz and The World Cup – An Overview

In the lead-up to the FIFA World Cup 2022 in Qatar, Chiliz saw an increasing demand for fan tokens.

The World Cup already had a cryptocurrency-based feel, with companies such as Crypto.com announcing that it would officially sponsor the event in Qatar.

Kris Marszalek, the co-founder of Crypto.com, said the following on the sponsorship;

“Through our partnership with FIFA, we continue to use our platform in innovative ways so that Crypto.com can power the future of world-class sports and fan experiences around the world.”

Another cryptocurrency that announced a collaboration with the World Cup was Algorand. They agreed on a North American regional sponsorship and technical deal that would see Algorand becoming the official blockchain platform of FIFA.

In the lead-up to the World Cup, Chiliz saw a significant uptick in the number of mentions of Chiliz and its related products across social media platforms. Investors and influencers across the board were mentioning CHZ as a perfect opportunity to go long ahead of the World Cup;

According to data from Santiment, the Social Volume for Chiliz saw significant spikes in the days before the World Cup kick-off;

As Chiliz is a fan token ecosystem, the crypto world started buzzing about the potential gains that could result from the World Cup itself. Traders had high hopes that the exposure from the World Cup could help the price of CHZ to soar higher.

How Has Chiliz Performed in 2022 Before the World Cup?

Like most cryptocurrencies in the industry, Chiliz was already suffering in the months before the FIFA World Cup hype started. The cryptocurrency had dropped by a precipitous 87% from the November 2021 highs of $0.55 to reach as low as $0.08 during the middle of 2022;

The price collapse was primarily driven by the bear market that appeared in the cryptocurrency industry. The bear market was initially fueled by fears of global inflation running rampant in the economy, causing interest rates to increase. It was further exacerbated by the Russian invasion of Ukraine, sparking a war on European soil.

Chiliz started to slide in November and reached as low as $0.17 in March 2022. From there, it did see a slight recovery through April 2022 to reach as high as $0.3, but the cracks were starting to show in the cryptocurrency market as the Terra Luna ecosystem collapsed – sending crypto crashing down with it.

As a result, Chiliz fell from $0.3 and continued to plummet to reach the 2022 low below $0.1. Chiliz would spend the majority of June and July beneath $0.12.

It finally started to recover at the start of August as it managed to break back above $0.15;

The price recovery continued from August through September, allowing CHZ to reach as high as $0.27. This recovery was primarily driven by the FIFA World Cup anticipation, in which many investors believed that CHZ could soar during the World Cup.

They believed that Chiliz would see increased usage as the demand for fan tokens would increase significantly during this time in the build-up to the FIFA World Cup.

CHZ would see a slight decline during the first few weeks of October when the price fell below $0.18. However, it started to recover in the final week of October, allowing the price to reach as high as $0.275 again;

Unfortunately, the FTX collapse caused CHZ to plummet on November 10th, sending the price as low as $0.155. Fortunately, the World Cup was just days away by then, which allowed CHZ to rebound and head back above $0.27 again.

Where is the Chiliz Price Now?

Unfortunately, the price surge surrounding the World Cup has already faded, and CHZ is currently trading at $0.163;

The cryptocurrency is now sitting at the .618 Fibonacci Retracement measured from the June 2022 low to the November high-day closing price. The .618 Fibonacci Retracement is often considered to be the “Golden Retracement Level” and is expected to provide strong support moving forward. We can see that the level supported the market during the FTX collapse and CHZ recently spiked off of it again.

With the World Cup failing to deliver the anticipated price hikes for CHZ, it seems that traders on social media are starting to change their perspective about where the price is heading next;

What is Chiliz Price Going to Do After the World Cup Disappointment?

With Chiliz heading lower during the World Cup, many analysts predict that it will continue to head lower after the World Cup ends.

The support at $0.155 (.618 Fib Retracement) is the next crucial level of support to watch. A break beneath this level will open the door to a further decline.

In this case, the first level of support lies at $0.14. This is followed by support at $0.122 (.786 Fib Retracement), $0.10 (July 2022 support), and $0.08 (June 2022 lows).

On the other side, the World Cup is still underway, providing a possible route for a CHZ rebound if it can hold the .618 Fibonacci Retracement support. A rebound from the .618 Fib level would allow CHZ to start a recovery back toward the November highs.

In this case, resistance is expected at $0.18, $0.2, and $0.26. If the buyers can continue to drive CHZ above $0.26, additional resistance lies at $0.28 and $0.3.

In the unlikely scenario that CHZ manages to soar beyond $0.3, further resistance can be expected at $0.33 (March 2022 highs), $0.35, and $0.4.

Cryptos to Hedge With Against the Cold Winter

Despite the disappointment for CHZ regarding the World Cup and the prevalent ongoing crypto winter, there are a handful of cryptocurrencies that serve as ideal hedges against the bear market.

The following tokens are gaining a great deal of attention during the downturn and have seen notable increases in popularity across socials in the industry.

Dash 2 Trade – A World-Class Analytics Platform to Become Consistently Profitable

Dash 2 Trade is a world-class crypto analytics and intelligence platform designed to help traders take their results to the next level.

The dashboard provides all of the relevant data and on-chain metrics a trader would require to make informed decisions about where the market might be heading next. Additionally, it also provides actionable trading signals to assist traders in increasing their profits.

With the recent fallout from the FTX Contagion, there has never been such a perfect need for a tool like Dash 2 Trade to help traders make better trading decisions.

Some of the key features of the platform include;

• Trading Signals with buy/sell opportunities.
• Presale Launches to keep track of presales with a bespoke scoring system.
• Social sentiment and on-chain analysis to stay ahead of the market.
• Strategy builder to develop and test new trading strategies.
• New crypto listings.
• Trading competitions.

The team behind the project believes that one of the main driving forces behind trading profitability is the ability to make decisions based on actionable insights. A trader that is updated on the latest market developments and social statistics will be able to make better decisions to succeed in the market consistently. This is exactly what Dash 2 Trade seeks to provide for traders.

The project is currently undergoing a presale for its native token – D2T – which will be used to power the dashboard. Users will require the token to pay for the monthly subscription service to access the platform’s intelligence, which will be used in some of the platform’s flagship features.

The presale is almost complete after raising over $7.5 million in just six weeks;

Investors are quickly scrambling to get their hands on the D2T token after learning about the successful track record of the team behind the project. They previously created Learn 2 Trade, which is a successful Forex signal and education platform that attracted a user base of over 70,000 traders. Learn 2 Trade will be the sister company for Dash 2 Trade, and a large proportion of its original user base is expected to use the new platform.

The team has partnered with expert crypto traders, leading quantitative researchers, and AI developers to deliver a crypto-based trading dashboard and ecosystem to replicate the success of Learn 2 Trade in the crypto sector.

Quant developers and high-profile venture capitalist investors already back the world-class development team. They have been verified through CoinSniper, and SolidProof has fully audited the contracts.

The final stage of the presale is quickly approaching. Once the presale ends, the only option to purchase D2T will be on tier-1 exchanges such as LBank – likely at higher prices.

IMPT – Helping Individuals, Businesses, and Crypto Projects Reduce Their Carbon Footprint

IMPT is an environmentally focused project that seeks to showcase that Web3 technology can be used to create a long-lasting positive impact on the world by helping businesses, individuals, and crypto projects reduce their carbon footprint.

The IMPT ecosystem is designed to make it straightforward for people that want to offset their carbon emissions in a secure way by providing them with the opportunity to buy genuine carbon credits.

Today’s carbon credit market is convoluted, with obscure pricing data, prevalent scams, and fraudulent carbon credits. Large-scale enterprises primarily use the market to offset their carbon emissions resulting from industrial production. However, small businesses and individuals struggle to enter the sector due to the limited pricing data.

This is exactly what IMPT is trying to combat.

The IMPT Carbon Marketplace will allow users to easily buy, sell, and retire genuine carbon credits on one platform. Users can be sure that the carbon credits are genuine as they are hosted as NFTs on the blockchain, ensuring that there is no double-counting of carbon credits occurring.

IMPT takes the process one step further by providing a system that allows shoppers to earn carbon credits as cashback while doing their regular online shopping. The team has affiliated with countless world-famous brands, who are ready to allocate a small percentage of sales margin to environmentally focused projects.

When a shopper purchases the Shopping Platform, the sales margin is held in their accounts as IMPT tokens until they have enough to purchase a carbon credit. The process helps shoppers reduce their own carbon footprints without having to change any of their daily habits.

Some world-famous brands that have affiliated with IMPT include;

• Microsoft
• Samsung
• Netflix
• Puma
• The North Face
• Dyson
• Dominos
• New Balance

IMPT is currently hosting a presale for the IMPT token and has already managed to raise over $13 million;

The presale is quickly gaining momentum as eco-friendly investors are starting to realize the impact that the project could have on the overall industry, helping crypto be seen in a new, greener light.

Visit IMPT Today

RobotEra – Sandbox City Rebuilding Game Metaverse

RobotEra is an exciting new sandbox-style city-building metaverse that is set to explode in 2023. The metaverse continues to be one of the most discussed topics in 2022 and will likely start dominating the industry in 2023. RobotEra might be one of the outstanding games in the sector once it launches in 2023.

Players in RobotEra become robots that are tasked to rebuild the planet Taro in an attempt to build an immersive new multiverse.

The project is currently undergoing a presale for the TARO token, which will be used as the in-game currency to be used in transactions. In the short time the presale has been active, it has already managed to raise over $300,000;

The RobotEra ecosystem is a shared multiverse that is connected to other worlds and NFT communities. It lets players build anything they can imagine, such as theme parks, concert halls, museums, schools, and much more.

The game is backed with an in-depth lore about the planet Taro, which was once a beautiful world that experienced a cataclysmic event. It’s now up to the Robots on Taro to rebuild the beautiful world and bring it back to its former glory.

All robots in RobotEra are NFTs in the game, which all have several different factions with various advantages to choose from. The Robot NFT serves as a digital identity for players, and they all have unique identities for individual players.

In the game, players are tasked with creating land. The RobotEra Editor provides all of the editing tools required to build the multiverse and create their Robot NFTs. Players earn rewards by participating in activities such as mining, construction, energy collection, and production.

The team behind RobotERa envisions a frictionless play-to-earn experience, with players earning through various functions in the game, such as cultivating sacred trees, selling NFTs, advertising, putting on events, and staking tokens.

Overall, RobotEra is an exciting addition to the metaverse sector and will seek to evolve the industry by introducing a shared multiverse with popular NFT communities and other worlds.

Buy TARO Tokens Today

Conclusion

The anticipated impact of the FIFA World Cup on the price of CHZ hasn’t played out for traders in the short term. It wasn’t surprising to see the price for the token surge with the hype increasing in the lead-up to the World Cup. However, with little-to-no innovation on the side of Chiliz to capitalize on the increased attention, there was only one direction for the price to head after the World Cup started – downward.

Chiliz is now sitting in a precarious position as traders completely lose the previous optimism that was built before the FIFA World Cup. If the support at the .618 Fibonacci Retracement fails to hold over the coming days, then we can expect CHZ to head back toward the 2022 lows after the footballing competition has completed.

Despite the bearish sentiment for Chiliz and the overall crypto market, a handful of projects are worth parking some cash in to ride out the crypto winter. Dash 2 Trade is certainly one of the most promising projects to keep on your watchlist, as a crypto analytics dashboard could work wonders for traders that are struggling to maintain consistent profits.

Additional projects such as IMPT and RobotEra are also worth considering during the bearish pressure within the market as they are building for a strong launch in 2023.