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Chiliz (CHZ): Course benefits from FIFA World Cup 2022

 


The SEC is making a fuss about Ethereum and the Fed could hike rates more than previously expected this week. But Chiliz (CHZ) doesn't let that cloud him. Chiliz is a platform for so-called social tokens that allows fans to interact with their team or a specific star. Since March 2022, this has also included Lionel Messi.


In August, Chiliz announced that it would be assisting the Argentine Football Federation in creating its own fan token. The heart of Chiliz is the Socios platform, which allows interaction with the system of fan tokens. The Chiliz price has been bullish since the end of June and has closed up 12 times in the last thirteen weeks.


Now that the start of the soccer World Cup in Qatar is approaching in November, the Chiliz course got a tailwind again. There is resistance at $0.26 on the daily chart. If this can be overcome, then there is a possibility that Chiliz will continue the bullish trend.


Algorand is a partner of FIFA

While Chiliz primarily focuses on teams , Algorand has been able to make a deal with FIFA. Together they want to develop the strategy for digital assets and integrate NFTs into FIFA+.


As the official blockchain of the FIFA World Cup 2022, the Algorand course has also been able to increase in the last two days. However, unlike Chiliz, ALGO price has remained in a range since June, which is a strong indication that its reliance on Bitcoin is much higher. A bullish trend could only set in if it breaks above the $0.38 mark.


If the FOMC meeting does not strain the market segment of social tokens, then there is a possibility that a new hype will arise for the World Cup 2022 about projects that are somehow connected to the event.

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