A PUMP into June 14? This ONE token might RALLY

👇1-14) We have seen this repeatedly: Events are the best catalysts for trading crypto, as prices tend to rally in anticipation. The key is to walk away when the event has arrived and not fall in love with the narrative. But there is often money to be made in the run-up. This might be the case here again.

👇2-14) The CME Bitcoin futures listing in December 2017 caused a massive price ramp-up, only to mark the top of that bull market. Similar tops occurred with the Coinbase listing in April 2021 or the Bitcoin ETF based on futures listing in October 2021. A more recent example was the listing of the Bitcoin Spot ETFs in January 2024, which caused Bitcoin prices to rally prior but then to correct by -15% afterward.

👇3-14) A new event is scheduled for June 14. While less crucial for the broader crypto market than a Bitcoin product launch, it could impact this one token, as we explain below. With less than three weeks away, it might be time to gain exposure. This token is on the move…

👇4-14) We are not talking about Bitcoin; we are talking about Chiliz - a cryptocurrency designed to enhance fan engagement in sports and entertainment through its social platform, partnerships, and major sports teams. With a market cap of $1.3bn and a 24-hour trading volume of $277m, the token is relatively small and not without risk.

👇5-14) Most actively trades (CHZ/USDT) on Binance (26%) and OKX (9.6%). Trading volumes in CHZ-USDT have increased to a 22-month high, and together with solid accumulation by whales, the CHZ-USDT pair might be at play here.

👇6-14) The Chiliz (CHZ) token rallied +100% from the summer of 2022 until one day before the FIFA World Cup started on November 20, 2022 (lasted until December 18, 2022). Only to then decline by -60% one day before the start of the FIFA Soccer World Cup (from November 19, 2022). Usually, the company spends a decent amount of marketing to promote their token around those events. Hence, a rally into the event was predictable with certainty (as we did back then).

👇7-14) This scenario might repeat itself. A slightly smaller version than the World Cup of 2022, the UEFA European Football Championship will be held from June 14, 2024, to July 14, 2024, with teams from 24 countries competing.

👇8-14) Chiliz's primary use is to power the socios platform, which allows sports fans to purchase fan tokens of their favorite teams. These fan tokens give holders voting rights on various club decisions, access to exclusive content, and rewards. Examples of such clubs include FC Barcelona, Juventus, Paris Saint-Germain, and many others.

👇9-14) This main platform uses CHZ tokens. It allows fans to interact with their favorite sports teams through polls, games, and rewards. The platform uses blockchain technology to ensure transparency and security in voting and transactions.

👇10-14) Chiliz also supports creating and distributing non-fungible tokens (NFTs). These reward fan engagement and participation during live sports events, enhancing the overall fan experience​.

👇11-14) In February 2021, the Chiliz token ramped up 30x after the company behind the token announced a partnership with various sports teams to launch fan tokens, which played a major role. For instance, the AC Milan fan token (ACM) launch generated substantial interest and revenue, which helped boost the visibility and demand for CHZ.

👇12-14) Also, in February 2021, Chiliz announced plans to invest $50 million to expand its operations in the United States. The popularity of non-fungible tokens (NFTs) also contributed to the rally. Chiliz integrated live, in-game NFT drops, which created additional value and engagement for CHZ holders.  

👇13-14) In April 2024, OKX (the fourth largest exchange) announced plans to become a validator on the Chiliz blockchain—validators earn an annual yield of 2%. The crypto sports coin market is worth $3.7bn, and considering that community-focused meme-coins are the key winner in 2024, sports and fan-related tokens, such as Chiliz, could also gain in popularity, especially as the European Soccer championship is coming up on June 14.

👇14-14) Earlier this month (May 2024), SBI Digital Asset Holdings announced a Japanese joint venture with Chiliz to bring its football club fan tokens to Japan. Although CHZ focuses more on fans from sports clubs than national teams like the upcoming European football championship, the CHZ token might nevertheless be a play for anybody not playing on the field on June 14.