Chiliz's CHZ Token Pre-UEFA Euro Price Surge Revives FIFA Memories
Summary
CHZ, the native token of Chiliz blockchain, surged 25% in 7 days, reaching a 2-month high of over 15 cents, driven by excitement around the upcoming UEFA Euro. The token's value doubled before the 2022 FIFA World Cup but declined by 40% afterward. 10X Research expects a similar pattern for the UEFA Euro, with gains by mid-June and a potential sell-off afterward. Sports tokens are susceptible to "buy the rumor, sell the news" tendencies, as shown in a recent study. Football events have a direct statistical link to the economic performance of regions in Europe. The availability of fan tokens and blockchains like Chiliz has made it easier to measure the financial and economic impact of sporting events.
