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Category: Crypto News

  • Cryptocurrency WATCH: Last Week’s Best & Worst Performers

    Cryptocurrency WATCH: Last Week’s Best & Worst Performers

    Looking at the top gainers and losers for the week, here is all you need to know about top performers and not-so-top performers of the week.

    Top Crypto Weekly Gainers

     

    Vanilla Network (VNLA) bags the first rank in the weekly timeframe with its phenomenal performance. The cryptocurrency established its all-time high at $28, although it went down to $25 – the price at the time of writing. The daily trading volume stands at 800K -which observed a slight decline of 5%. Vanilla Network is a deflationary token which applies the fundamentals of economics by driving up the demand with a continuously restricting supply.

    BackPacker Coin (BPC), too, has stolen the limelight. As of this writing, the cryptocurrency stands at $2.91 – skirting close to the all-time high of $3.12 established earlier in March. The price observed an increase of around 570% in the past 24 hours. The daily trading volume is $1,064,307 and the market capitalization stands at $18,709,878 which went up by 570%. The vision of the network is to revolutionize the travel industry through a universal stable coin payment system which has negligible costs and lightning fast speed.

    EXMO Coin (EXM) is another top performer. With a price level of $0.085, the price increased by 25% in the past 24 hours. The daily trading volume of the coin stands at $8,073,588 which also went up by around 50%. EXM is the utility token of one of the largest trading platforms of Eastern Europe by the name of EXMO.

    Storj (STORJ) – the open source cloud storage platform – has been in the headlines too. The cryptocurrency established its all-time high at a price level of $3.91 two days ago. The coin stands at a price of $2.71. The recent listing of Storj on Coinbase has been a factor in the price rally of the coin.

    Last but not the least, the top fifth top performer of the week is Metal (MTL). Although the coin is still a long way from hitting its all-time high, Metal is on an upward rally. The coin is priced at $3.76 which increased by 180% in the past 24 hours. The daily trading volume is at $4,206,599,851 which observed a phenomenal increase of 4200%. Metal is the native token used for Metal products and on the Metal ecosystem. Metal Pay – the peer to peer crypto payment platform – has filed to become a national bank in the US.

    Top Crypto Weekly Gainers

    UniSwap – the popular decentralized trading platform – has lost some of its luster as it makes to the top of the losers list in the weekly timeframe. Uniswap (UNI) is standing at a price level of $28 – which is not far from the earlier-established all-time high of $36. The daily trading volume of $555,049,589 has went up by 40%. The coin stands at a market ranking of 8 in terms of market cap. A Uniswap ad was sold for $525k as an NFT and although the platform is doing well, competition from PancakeSwap as derailed the upward trend of Uniswap.

    SushiSwap (SUSHI) stands at a price of $15. The cryptocurrency is on a downward trajectory ever since the establishment of its all-time high at $22 in early March. SushiSwap is a famous Automated Market Maker (AMM) and can be dubbed as an advanced version of Uniswap, employing additional features. The exchange is supposed to unlock $880 million in tokens but uncertainty marks the air as the network fears a massive dump.

    pNetwork (PNT) takes the third place in the weekly losers list. The cryptocurrency is priced at $2.51 with a daily trading volume of $30,022, 814. pNetwork is a cross-chain interoperability solution with the aim of increase the interaction between decentralized apps. The network also focuses on not just transfers of assets but NFTs and smart contracts. The network is currently in collaboration with ChainGuardians to create a bridge between Ethereum and Binance Smart Chain.

    IOTA coin, another top loser, stands at a price level of $1.54 with a daily trading volume of $145,782,733. The bulls of the cryptocurrency has been weak in the whole bull run as IOTA struggled to go upwards. It is a long way from its all-time high of around $5 established in 2018. The coin has launched on Binance Smart Chain which may propel it towards the upside.

    MahaDAO (MAHA) crypto is the fifth loser of the week. The cryptocurrency established it all-time high in early January and ever since then it has been on a downward trend. At the time of writing, MAHA sands at a price level of $7.95 with a daily trading volume of $1,849,898. MahaDAO is a decentralized non-depreciating algorithm token, the value of which is based on a basket of assets.

  • A look at the top headlines and cryptocurrencies to watch

    A look at the top headlines and cryptocurrencies to watch

    Here’s a quick break down of what’s been up in the cryptocurrency world:

    • Visa is moving towards allowing USD-backed cryptocurrencies for transactions on its network
    • The weekly inflow of cryptocurrency investment products has reached $21 million – the lowest since October 2020
    • According to PwC, the value of crypto related mergers and acquisitions deals doubled and as institutional interest in the cryptocurrency sphere increases, the M&A is expected to continue to rise
    • The market is dominated by Bitcoin, Ethereum followed by Binance Coin. BTC at $57,825 is close to hitting $60k, ETH stands at $1,815 and BNB is at $274
    • The NFT demand is surging with celebrities jumping in and releasing their exclusive NFTs. In three months, the total market cap of NFT projects has increased by 1,785%

    Global developments:

    • Canadian securities regulators have published a detailed guide for cryptocurrency trading platforms
    • India is reported to be moving towards a bill banning cryptocurrencies
    • Bank of Thailand is struggling with cryptocurrencies – after a failed launch, another cryptocurrency is set to be launched in the near future
    • The Dubai Financial Services Authority published a report on “Framework for Regulating Security Token” for stakeholders’ review

    New All-time High Coins

     

    Solana (SOL) is on a steady upward trend and has established its all-time high at the current price of $20.32. The price of the coin has gone up by 13% while the daily trading volume of $272,033,321 declined by 35%. Solana ranks at 22nd in terms of market capitalization. The open source block chain project that provides decentralized finance solutions is known as the “Ethereum Killer”. The network revealed about the inflow of $40 million worth of investment.

    Holo (HOT), the second all-time high crypto, has been on a sharp upward trajectory too. The coin established its all-time high of $0.015 today. The price has went up by 50% while the daily trading volume has surged upwards by 380%. The platform is used for hosting decentralized apps built on Holochain – an alternative to the block chain.

    BitTorrent coin (BTT) is another top performer of the day. The cryptocurrency stands at the all-time high price of $0.0040. The price has increased by 10% in the 24-hour timeframe while the daily trading volume has increased by 110%. The file sharing and content platform ranks 3st in the market.

    THORChain was in the grips of bears recently but the bulls have dominated the market as the cryptocurrency established an all-time high of $7.14. The price has increased by 11% while the daily trading volume went up by 83%. The decentralized liquidity platform enables users to easily exchange cryptocurrencies.

    The Origin Protocol (OGN) established its all-time high at the current price of $2.26. The daily trading volume of $338,401,491 has increased by around 25%. The objective of the network is to create an online marketplace based on the Ethereum block chain and interplanetary File System (IPFS). The network recently entered into a strategic partnership with Brave Browser in order to facilitate the offering of NFTs.

  • The Highly Anticipated Crypto Market Following the FinTech Payment networks Go live with digital currencies

    The Highly Anticipated Crypto Market Following the FinTech Payment networks Go live with digital currencies

    PayPal and Visa allow their users to deal with their daily transactions in cryptocurrencies.

    We have seen that the adoption of cryptocurrencies is rapidly growing. In recent times, financial payment services have begun to allow digital currencies to be used for daily use and to hold crypto assets.

    Elon Musk, who has been one of the biggest crypto enthusiasts, recently announced that his EV firm will also accept Bitcoin as payment for Tesla cars. Now, PayPal and Visa, both the payment services giants have announced that they will support the use of crypto assets.

    What’s Next?

    We already knew that PayPal was in line to support cryptocurrencies in form of payment. Now, with the recent announcement, US users can do just that with its “Checkout with Crypto” feature.

    As per Reuter, PayPal is set to move one step forward in opening crypto accounts for users. The US consumers will now be able to pay at millions of its online merchants globally. With this move, we can foresee the future of e-commerce built upon digital payments.

    Users holding cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in PayPal digital wallets will be able to convert their holding into fiat currencies to make online purchases. The company believes that it will be serving almost 29 million merchants on its platform. For the first time, we will see digital assets used as smoothly as credit and debit cards online.

    Moreover, Visa is also ready to roll the crypto plan soon. Visa will allow the use of digital coin, USD Coin, for transaction payment. This is another big acceptance of crypto in the mainstream payment world.

    While telling Reuters, Visa Inc. mentioned that it has launched its pilot program with payment and crypto platform Crypto.com. The financial services corporation intends to offer more partners in the second half of this year.

    The USD Coin (USDC) is a stable coin that is pegged again the US Dollar. Visa’s step toward crypto adoption is one of the most highly anticipated decisions of the present. We can see how finance firms are attracted towards cryptocurrency including BlackRock, Mastercard, and BNY Mellon. The companies have realized that cryptocurrencies are a great investment opportunity and more than that a better payment processing system.

    Elon Musk’s is an inflection figure in the world business and investors keenly follow him, whether it’s the stock market or crypto market. Last week, Musk said that customers can buy its electric vehicles with bitcoin. This is a great push for cryptocurrencies and we will see more companies adopting crypto in the future.

    This move from Musk is a strategic move for investment and from this Tesla can make double the amount of money with the sale of EVs. Because Tesla will not fix the price of Bitcoin against the price of the car in USD. It will be just like a free-floating exchange rate.

    Bitcoin (BTC), the crypto deity is trading just over $59K and heading back towards a record-high of $61K. The future awaits much hyped and highly forecasted Bitcoin prices.

  • Ankr (ANKR) coin to reject pessimistic future projection?

    Ankr (ANKR) coin to reject pessimistic future projection?

    Ankr (ANKR) coin started off in 2019 with a price of $0.012. Until 2021, the coin was unable to break out of the price level and stayed stagnant; however, the bull run of the new year brought the cryptocurrency under the spotlight. Ankr coin exploded upwards and broke many resistance levels. At the time of writing, Ankr stands at a price of $0.122 which has also been established as the all-time high. The uptrend of the cryptocurrency is expected to continue in the coming days and newer all-time highs are expected to be made by Ankr.

    In the past 24 hours, Ankr coin’s price went up by 23% while the daily trading volume also increased but by around 235%. Ankr stands at a market ranking of 91 which is expected to improve drastically as the market capitalization of the coin drive upwards. Despite the fact that the cryptocurrency market has turned bearish, Ankr is continues to be strongly bullish which has pleasantly surprised investors and traders. The strong bullish momentum of the coin has resulted in Ankr stealing the limelight.

    Ankr (ANKR) coin technical analysis

    The market for Ankr coin is strongly bullish as the technical indicators are giving out a strong buy indication. Nine of the indicators stand at a neutral position while fifteen are giving out a buy signal with only two indications of sell. The oscillators are neutral while the Moving Averages are highly bullish.

    The market outlook for Ankr is positive and traders are suggesting a long position for the cryptocurrency. A trader had identified an Elliot wave series which had begun in 2020. Per the trader, the cryptocurrency is expected to complete the wave four and five of the series which lie on various Fibonacci levels. Ankr can be observed to have reached the 2.618 Fibonacci level which lies parallel at the price level of $0.119. Ankr can be expected to reach the Fibonacci levels of 3.618 and 4.23 which lie at the price levels of $0.35 and $0.69 respectively. The 50 Exponential Moving Average is acting as strong support for the cryptocurrency. The Moving Average Convergence/Divergence (MACD) and Stochastic Relative Strength Index (RSI) are on a bullish uptrend.

    Future predictions

    Ankr is a blockchain node hosting solution which utilizes shared resources and is able to provide the service comparatively cheaper. The recent surge in the price of Ankr has brought it under the radar of many investors. Coinbase, the leading crypto exchange, had recently listed Ankr which fueled the upward price movement of the cryptocurrency.

    Wallet Investor and Digital Coin Price place the cryptocurrency at a price level of $0.30 in five years’ time. However, these projections are said to be on the pessimistic end and Ankr is expected to go even higher.

  • Elrond (EDLG) to explode soon?

    Elrond (EDLG) to explode soon?

    Elrond started off in October 2020 with a price of $17. The cryptocurrency stayed stagnant until February of 2021 when the bulls picked up. Elrond established its all-time high at a price of $214 and as of this writing, stands at $134.

    The price of the cryptocurrency has observed around 10% increase in the past 24 hours while the daily trading volume went up by 30%. Elrond coin has a market ranking of 42 with a market capitalization of $2,314,507,603. The market sentiment for the coin is bullish. Out of the total technical indicators, nine stand at a neutral position while twelve are giving out a signal of buy and only five indicators are bearish. The oscillators are bearish while the Moving Averages are giving out a strong buy indication.

    What problem is Elrond (EDLG) coin trying to solve?

    The Block chain is considered to be the future of the world. With the growing interest in digitization and decentralization, block chain is considered to be the tool to help the world move towards the future. The bull run of 2021 saw what the block chain industry would look like. As the adoption of cryptocurrency increased, they struggled to meet the high load on networks. Scalability, or the ability of a network to sustain its functionalities without compromising on speed, has become a word of increased interest to block chain developers. Bitcoin – the king of cryptocurrencies – has been suffering from issues of scalability and so has Ethereum – the queen of the market. Ethereum has begun the ETH2.0 upgrade in order to tackle the issue while Bitcoin may lag.

    As the importance of scalability has increased, newer cryptocurrencies have made use of innovative technologies to ensure they do not suffer from the plague of scalability. Elrond coin is one such project. The main goal of the project is to provide scalability that is not matched by anyone else in the market. Elrond block chain employs the technology of Sharding in order to handle a phenomenal amount of transaction. In one secod. Currently the network can process 15,000 transactions in a second and aims to take the number up to hundreds of thousands.

    Can Elrond coin go up?

    Elrond coin is trying to solve an important problem of cryptocurrency. It has been successful up till this point and if the coin continues to make progress, it is possible that Elrond will reach for the moon. The novel Sharding technology is becoming increasingly popular with Elrond one of the first cryptocurrencies to have implemented it.

    Per the predictions of Digital Coin Price, Elrond is expected to have a price of $608 in five years’ time. Throughout the years, the coin is expected to continue upwards. Wallet Investor is even more bullish on the cryptocurrency and predicts a price of $416 in one year. While their five-year projection places Elrond at a whopping $1,516.

  • Aragon (ANT) coin heading towards the moon?

    Aragon (ANT) coin heading towards the moon?

    Aragon (ANT) coin broke its all-time high in August 2020. The cryptocurrency has been surging long before the bull run began in the market. However, the bulls calmed down as the year ended. Aragon tried to reach towards its all-time high but failed to retest the strong support level every time. The market for Aragon crypto took a positive up turn as the cryptocurrency surged upwards. At the time of writing, Aragon (ANT) is trading hands at $9.32 apiece – the new all-time high.

    The price of the cryptocurrency observed a 30% increase in the past 24 hours. The daily trading volume increased by a whopping 840%. With a market rank of 131, the market capitalization of Aragon is increasing.

    Technical analysis

    The market outlook for Aragon crypto is bullish with technical indicators giving out a signal of buy. Ten of the technical indicators stand at a neutral position while sixteen are giving out a buy indication with zero indications of sell. The oscillators are neutral while the Moving Averages are giving out an indication of strong buy.

    Traders, too, are bullish on the cryptocurrency as most are suggesting a long position on the cryptocurrency. A trader – Guapeva – has identified a cup and handle formation in the price action of Aragon (ANT). The cup and handle formation is a bullish pattern which indicates an upward trend of prices. The formation of the figure has been completed and the price action has validated the figure.

    The cryptocurrency is close to touching the first target price at the Fibonacci level of 1 at $10.36. The next price target for Aragon lies at the Fibonacci level of 1.618 or the price level of $22, followed by $62 at 2.618 Fibonacci level and finally $174 at 3.618 Fibonacci level. The Stochastic Relative Strength index (RSI) and Moving Average Convergence/Divergence (MACD) are turning bullish.

    With the unique offering of the cryptocurrency and the technical analysis, there is a good possibility of the continuation of the price uptrend. Aragon can reach toward higher highs in the coming days and can possibly establish a new all-time high.

    What is Aragon (ANT)?

    The project was launched by Aragon Foundation in 2017. Aragon is a decentralized app based on the block chain of Ethereum which allows users to create decentralized organization. The native token of the network is the Aragon crypto (ANT) which is utilized for governance decisions on the platform. Through the cryptocurrency, ANT, users can vote and take part in key decisions on the network.

  • PancakeSwap (CAKE) price prediction: Reaching for higher highs?

    PancakeSwap (CAKE) price prediction: Reaching for higher highs?

    PancakeSwap is a decentralized finance application which allows the trade of cryptocurrencies – an Automated Market Maker. In order words, PancakeSwap is a decentralized exchange (DEX). The cryptocurrency picked up bullish momentum in mid-February. From a price level of less than $1 during the beginning of the year, PancakeSwap is currently trading at $12. The cryptocurrency established its all-time high at $17.50 during February which is an almost a 1,500% increase since the beginning of the year.

    The price of PancakeSwap saw a minimal decrease of 1.20% in the 24-hour time frame. While the daily trading volume went up by 23%. The market ranking of the coin is 55 with a market capitalization of $1,743,890,978.

    ‎Technical analysis

    Traders are bullish on the cryptocurrency and suggest a long position. A trader has identified a possible future trajectory for PancakeSwap. Per the analysis of the trader, the cryptocurrency is expected to be oscillating on an upward trend in the coming days. PancakeSwap will be facing resistance at $13.50 followed by $14.60 and $15.65. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are also bullish – moving upwards.

    The market for PancakeSwap (CAKE) continues to be bullish with a majority of the technical indicators standing at a position of buy. Out of the 27 technical indicators, seven stand at a neutral position while ten are giving out an indication of buy with zero sell indications. The oscillators are neutral while the Moving Averages are giving out a strong buy indication.

    What has been up?

    PancakeSwap (CAKE) is the biggest decentralized exchange on Binance Smart Chain. The network was launched in October last year and in a small period of time, it has achieved phenomenal growth. CAKE has the backing of the leading cryptocurrency exchange Binance and has been dubbed as Binance’s “Darling DEX”.

    The price of PancakeSwap suffered from major pullbacks in the middle of March because of a hijack attack. Per the developers, the Domain Name Service (DNS) has been compromised by hackers and anyone who visited the network during the hack received a pop-up message asking for users’ private key. The network was quick to act and after warning, users on Twitter started acting on recovering the system. The attack was part of a coordinated bigger attack on a number of decentralized finance projects including Creamdotfinance.

    However, the price has somewhat recovered from the attack and the uptrend can be resumed by PancakeSwap. RobonomicNetowkr’s XRT also began trading on the network and the HYVE ERC-20 token will be listed on PancakeSwap as well.

  • Uniswap (UNI) coin to pick up bullish momentum anytime soon?

    Uniswap (UNI) coin to pick up bullish momentum anytime soon?

    Uniswap (UNI) coin has embarked on an uptrend since the beginning of the bull run. The cryptocurrency established its all-time high at $33. However, the price of Uniswap is currently suffering from some major pullbacks. As of this writing, Uniswap stands at $27. The price has decreased in the past 24 hours by 13% while the daily trading volume has gone down by 33% – effectively showing that the market for the cryptocurrency is in correction.

    Uniswap is ranked at 8th by Coinmarketcap in terms of market capitalization. The market cap of the cryptocurrency stands at $14,268,119,577 which also decreased by around 13%. Uniswap has a total supply of 1 billion tokens while the coins in circulation are at 52 million.

    What is Uniswap?

    Uniswap is a decentralized trading protocol which facilitates the transactions of cryptocurrencies by using smart contracts on the Ethereum block chain. The decentralized exchange makes use of automated liquidity protocol. Uniswap is an open source project and is not profit-driven like centralized exchanges which means cryptocurrencies can be listed on the decentralized exchange (DEX) for free.

    Uniswap has shot up in value because of the recent surge in the decentralized finance sphere. With development being made everywhere to boost up decentralized finance, decentralized exchanges like Uniswap are gaining in value.

    Technical analysis

    The market sentiment for the cryptocurrency has turned bearish with most of the technical indicators giving out a sell signal. A trader has identified a potential head and shoulder formation by Uniswap. The H&S formation is bearish in nature and indicates towards sustained bearish momentum in the coming days. Per the trader’s analysis, Uniswap has entered a downward trending channel and is testing n ascending support line. If Uniswap is able to hold the support line then the current corrections are only minor and Uniswap will resume its upward trend. However, if the coin rejects the support level then the H&S formation will be validated and Uniswap will enter a bear zone.

    Will the price reverse?

    Currently, under strong bearish momentum, the future outlook for Uniswap cryptocurrency appears to be gloomy. But the decenralised exchange revealed details of a much-awaited network upgrade which may cause a reversal of the price. The V3 update is scheduled for May 5th, 2021. The upgrade is set to increase the efficiency and flexibility of the network.

    The Uniswap network has been facing Gas issues. A huge chunk of the transaction costs on Ethereum block chain is attributed to Uniswap. The V3 upgrade is designed to solve this problem through the launch of a Layer 2 scaling solution. Apart from this, the upgrade also has many other features that have the potential to help Uniswap reach the moon.

  • Filecoin (FIL) under the spotlight: Recent developments you should know

    Filecoin (FIL) under the spotlight: Recent developments you should know

    Filecoin is a decentralized block chain solution that allows users to rent out free storage space on their disks. Filecoin (FIL) cryptocurrency is a project of Protocol labs and has been in the works since 2017; however, the cryptocurrency was launched on the mainnet in 2020.

    Filecoin price developments

    Filecoin established its all-time high right after the launch at the price of $62 but fell towards $30 afterwards and stayed there. It was not until February that Filecoin (FIL) picked up bullish momentum. The cryptocurrency surged upwards and has been on an upward trend ever since. As of this writing, Filecoin stands at $89 which is also the new all-time high. The bullish trend is expected to continue and, hence, Filecoin is set to establish higher highs subsequently.

    In the 24-hour timeframe, Filecoin cryptocurrency’s price observed a positive change of around 10% while the daily trading volume increased by 54%. Filecoin is ranked at 21 in the market. The market capitalization of the coin, too, increased by around 10%.

    The market sentiment for the cryptocurrency is bullish with a majority of the technical indicators giving out a signal of buy. Ten of the indicators are giving out a neutral signal while fourteen indicators are standing at a buy position with zero indications of sell. The oscillators are neutral while the moving averages are strongly bullish.

    Recent developments

    TL;DR Breakdown:

    • Coinbase listing of Filecoin
    • New Universal enters Filecoin mining
    • Grayscale Investments opens up Filecoin Trust

    Coinbase listed the cryptocurrency in December which caused a surge in the price of Filecoin. Only after two months of launching on the mainnet, the cryptocurrency started to gain popularity as major cryptocurrency exchanges started listing the coin.

    A Chinese manufacturing company by the name of New Universal – Newu – has decided to enter into Filecoin mining. The Shenzen-listed company has revealed a recent contract signed with an electronic manufacturer for the mining. Newu is set to buy around $90 worth of electronics for the mining process of Filecoin (FIL). The company has set a precedent for other Chinese companies by moving into Filecoin mining.

    The asset management firm – Grayscale Investments – has been very active in the crypto field. The trusts of the firm are very popular among investors and come usually as a direct result of client demand. As Filecoin crypto surged and gave phenomenal performance, it did not go unnoticed by Grayscale. The firm has announced the opening of a Filecoin trust along with Chainlink.

    Protocol Labs has found itself tangled in a scandal. The cryptocurrency suffered from a double deposit issue and news circulated that the block chain of Filecoin has a bug that resulted in the double spend. Protocol Labs has denied the allegation and instead stated that the misuse of Filecoin by exchanges has resulted in the problem. However, the double spend problem has had next to impact of the price of the cryptocurrency as it continues to surge upwards.

  • Chiliz (CHZ) has been on the move following a $50 Million U.S. Expansion Update

    Chiliz (CHZ) has been on the move following a $50 Million U.S. Expansion Update

    The leading blockchain provider in sports is set to expand its network in the US with a $50 million grant.

    Chiliz (CHZ) has recently been in the highlights following the rising popularity of NFTs and the improving infrastructure supporting the nascent market. This has resulted in triple-digit rallies for CHZ.

    Moreover, analysts are still bullish on Bitcoin to pump in April despite dropping below $55K, once again. Chiliz is in a good position following the announcement of US expansion. The sports-based blockchain platform is really making a mark and now, it has listed itself on Bitcoin.com Exchange, HitBTC, and Changelly platform.

    What’s Next?

    Chiliz (CHZ) is one of its types in the crypto market, which gives it an advantage over other digital assets. Chiliz is a currency option for blockchain-backed products and services geared towards mainstream consumers.

    One of the biggest developments that took place recently was the listing of CHZ on Bitcoin.com on 3rd March 2021 and later on Changelly. This will allow more users to access digital access on the top-ranked crypto exchanges.

    Chiliz developed the Socios.com sports fan engagement platform which is built on the Chiliz blockchain infrastructure and uses CHZ/USD as its exclusive on-platform currency. The digital asset has collaborated with 23 renowned sporting clubs of Europe which include FC Barcelona, Juventus, AC Milan, Atlético de Madrid, Paris Saint-Germain, Trabzonspor, Galatasaray, among them.

    Moreover, leading esports networks including OG, NAVI, Alliance, and Team Heretics have launched Fan Tokens on Socios.com. While, the most famous MMA organization, UFC has also signed a global fan engagement agreement with Chiliz.

    Following these achievements, Chiliz is expected to partner with more sporting brands in the US. In that premise, the digital platform has plans to invest $50 million in its expansion to the United States. The CEO of Chiliz, Alexandre Dreyfus highlighted that the company has big plans for the US.

    As per the CEO, Chiliz is also working towards a massive expansion of its network with Formula One and eSports teams. The blockchain platform is fully committed to its US project, which is its key focus at the moment. For that reason, they are launching a New York office, which would be part of a $50 million investment in the sports industry in the country.

    Chiliz (CHZ) has already made millions in revenues from sporting events across Europe. Dreyfus added that in 2020, they shared more than $30 million with their partners and expect to double their sharing up to $60 million this year.