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HomeNews100,000 Wallets and Counting: Chiliz Chain Sets New Standard in Blockchain Transactions

100,000 Wallets and Counting: Chiliz Chain Sets New Standard in Blockchain Transactions

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  • The recently launched Chiliz Chain has already reached an impressive milestone with 100,000 wallet addresses and 500,000 transactions.
  • Despite the subdued performance of CHZ in 2023, the Chiliz project continues to witness increased accumulation from various tiers of holders.

Within a short period of its launch, the Chiliz Chain is celebrating a remarkable feat of scaling to 100,000 wallet addresses and recording over 500,000 transactions. This swift and substantial growth has showcased the immense potential and adaptability of the Chiliz blockchain, which is centered around sports and entertainment.

Rapid Growth Post-Launch

The Chiliz Chain, having gone live only two months ago, has made quick strides in the blockchain landscape. This Layer 1, Ethereum Virtual Machine (EVM)-compatible blockchain was launched to provide a robust infrastructure for sports teams and brands, empowering them to build Web3 products that foster enhanced community interaction.

The genesis of the Chiliz Chain 2.0 was marked by the production of the first block on February 8, followed by the public launch of the Layer 1 blockchain in May. This rollout was a key phase in the Chiliz project, setting the stage for sports and entertainment entities to tap into the potential of blockchain technology and Web3 products.

The most recent announcement on July 18 by Chiliz and Socios CEO, Alexandre Dreyfus, further underscored the project’s traction in the U.S. The Chiliz “Fan Token” trademark has been officially approved and registered in the U.S., further solidifying the brand’s position in the market.

Performance and Accumulation Trends

Despite these significant milestones, Chiliz (CHZ), at the time of reporting, was marginally down in the last 24 hours, sitting at $0.078. This may be perceived as underperformance in 2023, yet it doesn’t overshadow the project’s considerable achievements.

Interestingly, the downturn in price hasn’t deterred accumulation of CHZ among various categories of holders. According to IntoTheBlock, CHZ address tiers have seen increases in their balance holdings over the past 30 days. Notably, Chiliz addresses holding between 10 to 100 million CHZ have grown their holdings by 14.81%, while those holding between 100 million to one billion CHZ have upped their holdings by 11.11% during the same period.

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Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628
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