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- CHZ might experience more demand as Chiliz expands to more exchanges.<\/em><\/li>\n
- CHZ is ripe for a rally but there is one major factor holding it back.<\/em><\/li>\n<\/ul>\n
The Chiliz [CHZ]<\/a> network is currently in its expansion phase and its latest announcement revealed a possible catalyst for CHZ\u2019s adoption. So, let\u2019s take a look at what is happening with the Chiliz ecosystem.<\/p>\n
\nIs your portfolio green? Check out the Chiliz Profit Calculator<\/a><\/p>\n
\nChiliz recently revealed that the network was working toward integrations with major exchanges. This was while talking about its mainnet 2.0 integration with Binance<\/a>.<\/p>\n
The expansion of CHZ into multiple exchanges is perhaps the key highlight of the announcement. This is because such a development could escalate CHZ\u2019s rate of adoption.<\/p>\n
\n
\ud83d\udce2 @Binance<\/a> will support the Chiliz 2.0 Mainnet Integration and Swap<\/p>\n
The Sports Blockchain_ is coming to major exchanges. \ud83e\udd1d<\/p>\n
Get ready to unlock the full potential of Chiliz $CHZ<\/a>, the native token of Chiliz Chain. \ud83c\udf36\u26d3\ufe0f#ChilizChain<\/a> \u26a1\ufe0f $CHZ<\/a>https:\/\/t.co\/Ji5iOMiiFm<\/a><\/p>\n
\u2014 Chiliz ($CHZ) \u2013 Powering Socios.com \u26a1 (@Chiliz) August 30, 2023<\/a><\/p>\n<\/blockquote>\n
The availability of CHZ<\/a> on major exchanges could unlock a wave of new liquidity into the cryptocurrency. But could this be enough to trigger a pivot in CHZ\u2019s price action?<\/p>\n
CHZ could be headed for a bullish relief <\/strong><\/h4>\n
CHZ has been on a bearish trajectory throughout August. In fact, it has been on an overall downtrend since its peak in November last year. It recently tanked to a historic low of $0.060 earlier this month. However, CHZ bears were showing signs of exhaustion at the time of writing.<\/p>\n
![\"CHZ](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/CHZUSD_2023-08-30_14-52-39.png\")
<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
In addition to bears slowing down, CHZ was briefly oversold during last week\u2019s trading session. The Money Flow Index (MFI) also dipped into oversold territory and showed no signs of accumulation. Could this finally signal that the elusive pivot is about to commence?<\/p>\n
These CHZ metrics show signs of changing dynamics<\/strong><\/h4>\n
CHZ\u2019s mean coin age declined for the last three days, meaning quite a large amount of the cryptocurrency exchanged hands. Interestingly, there was a large spike in transaction volume around the same time, which could be consistent with accumulation at the recent bottom range.<\/p>\n
![\"CHZ](\"image\/svg+xml,%3Csvg%20xmlns=\")
![\"CHZ](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Chiliz-CHZ-15.52.43-30-Aug-2023.png\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
CHZ\u2019s Market Value to Realized Value (MVRV) ratio just bounced back from its bottom range. This confirmed that there was significant accumulation in the last few days, hence the upside reflected the profitability of those who bought at recent lows.<\/p>\n
![\"CHZ](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Chiliz-CHZ-16.10.04-30-Aug-2023.png\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
Despite the outcome observed with the MVRV ratio, whales might still be holding back CHZ bulls from achieving their full potential. The supply held by the top addresses metric was at its lowest level in the last four weeks after demonstrating some outflows in the last few days.<\/p>\n
\nHow many are 1,10,100 CHZs worth today<\/a><\/p>\n
\n - CHZ is ripe for a rally but there is one major factor holding it back.<\/em><\/li>\n<\/ul>\n