Here’s how crypto wallets are detecting scammers, courtesy Coinbase
Bankruptcy court allows bids for BlockFi’s crypto mining equipment
VitaDAO – Pfizer Ventures raise millions for research on extending human life
Crypto attracts more millionaires, according to new study: Details inside
Litecoin [LTC] is ready to celebrate, but here’s why whales could spoil the party
Can February see Bitcoin [BTC] do a January? The odds are…
BRICS challenges U.S. dollar, can it have an impact on Bitcoin as well?
Bitcoin’s [BTC] price reversal might be on the cards?
Bitcoin: Euphoria ravages the market; bullish trend remains strong
Bitcoin (BTC) Price Prediction 2025-2030: Will BTC’s sideways market continue
Interest in ENS domain names remains low; the reason is quite surprising
OpenSea sees a spike in Ethereum-based NFT sales, thanks to these factors
Anticipation for Ethereum [ETH] 2.0 rises as metric reaches all-time high
Ethereum (ETH) Price Prediction 2025-2030: ETH continues to surge
Ethereum holders shorting ETH in bull market should read this first
Published
on
By
According to the Official Chiliz [CHZ] Twitter page, it will launch an NFT collection in less than 48 hours from press time. For context, the Scoville NFT collection forms a part of the project’s plan to move to the Chiliz Chain 2.0.
𝐂𝐡𝐢𝐥𝐢𝐳 𝐒𝐜𝐨𝐯𝐢𝐥𝐥𝐞 𝐍𝐅𝐓 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 | 2 More Days ⏳
ℹ️ Will the NFTs have different rarities?
Yes, in total there are 7 different rarities. Each Scoville Testnet phase will have a different rarity.#ScovilleNFT ⚡️ $CHZ pic.twitter.com/M8wOFpZr0Y
— Chiliz ($CHZ) – Powering Socios.com ⚡ (@Chiliz) January 29, 2023
Realistic or not, here’s CHZ’s market cap in BTC’s terms
Recall that the blockchain-based project had partnered with Chainlink [LINK] in 2020 to foster NFT minting via its network.
However, the case for this NFT collection paves way for the Scoville Testnet phase which would offer users enterprise-level blockchain solutions.
The Chiliz communique also noted that the digital collectibles would have seven different rarities. And, this comes after the Spicy Tesnet success on 25 January.
As the event draws near, CoinMarketCap showed that the CHZ value increased by 2.08% in the last 24 hours. Similarly, the trading volume within the same period followed an uptick.
With a 38.47% 24-hour uptrend, it meant that a relatively good number of transactions happened via the Chiliz network. But will the NFT launch come with a better CHZ performance?
According to the daily chart, it was unlikely for the token to continue the uptick in the short term. This was due to the indications from the Exponential Moving Average (EMA).
At press time, the 50 EMA (orange) was stationed above the 20 EMA (blue) although the latter closed in on the former.
Regardless of an instance where the 20 crosses the 50, a significant price increase was largely implausible. Further price action from the Directional Movement Index (DMI) above laid a different scenario for CHZ.
At the time of writing, the positive DMI (green) was 29.95. The negative (red), on the other hand, was 11.86. Such a wide margin aligns that buyers are in market control. With the Average Directional Index (ADX), in yellow, largely above 25, it could provide an uptrend opportunity for CHZ.
Source: TradingView
How many are 1,10,100 CHZs worth today?
However, the indicators alone might not be the only determinants of the possible performance. In times past, NFT collection launches involving projects like Polygon [MATIC] and Axie Infinity [AXS] were no guarantees for improved token performances.
In addition, data from Santiment revealed that the NFT trade volume on the Chiliz network hit the highest since 20 January. Still, this was no confirmation of increased interest especially as sales were not impressive yet at press time.
But on the bright side, Chiliz gained a lot of active addresses in the last 24 hours. At the time of writing, the metric was incredibly high at 3013. This implied that many unique users had sent or received tokens using Chiliz.
Source: Santiment
Decentraland: Deciphering reasons behind MANA’s bullish performance
Interest in ENS domain names remains low; the reason is quite surprising
Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/
Chiliz Chain 2.0 on the way: Gauging its effects on CHZ
Chiliz shows signs of a continued upward push but this could halt at…
Can CHZ short sellers count on bullish exhaustion for a sizable retracement?
Chiliz: Network development, whale transactions, and more behind CHZ’s pump
CHZ holders may swallow bitter pill after a false positive on recovery rally
What Chiliz traders should be on the lookout for before going long?
Your email address will not be published.
document.getElementById( “ak_js_1” ).setAttribute( “value”, ( new Date() ).getTime() );
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.
