As the crypto market slowly recovers from last week's plunge, the Chiliz (CHZ) token is up over 8% today and is one of the top gainers in the crypto market today, while the total value of the crypto market has increased by around 13.00 over the past 24 hours 1.8% has fallen.
At the time of writing, Chiliz (CHZ) was trading at $0.1289, up 8.79% after retreating from a daily high of $0.1403.
CHZ Chain 2.0 new DEX for fan tokens
CHZ, the native token of the Chiliz blockchain that helps sports teams launch their fan tokens, has distanced itself from the ongoing market sentiment, with its recent rally helping it erase last week's loss.
Chiliz CEO Alexandre Dreyfus noted that CHZ Chain 2.0 will launch the first decentralized crypto exchange (DEX) for its fan tokens. This step is intended to increase the liquidity of the token. The new DEX will also come with certain capabilities that will allow third-party developers to create new features.
Fans who invest in the fan tokens are given the opportunity to interact with other clubs. This hasn't impacted the market much yet, however, with some fan token holders complaining that the perks aren't worth it.
Despite falling more than 38% over the past month as a result of the recent market crash, the CHZ token has held its own and maintained its place among the top 65 cryptocurrencies on the market.
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