Fan-themed token Chiliz CHZ/USD is recording a massive rally, as the FIFA World Cup is scheduled to take place in the next few days.
What Happened: CHZ, the native token of the Socios.com platform, is up 45% in the past week. Bitcoin BTC/USD is trading at $16,520, up 0.79% in the past week, while Ethereum ETH/USD gained 3.3% to $1,203, according to data from Benzinga Pro.
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The platform witnessed huge volume inflow and price surge due to its association with football franchises across the world.
The match between Qatar and Ecuador on Sunday will mark the beginning of the FIFA World Cup Qatar 2022.
CHZ has outperformed the broader market, even as FTX FTT/USD contagion spreads, with several exchanges declaring bankruptcy. Despite these gains, CHZ is still down 63%, from an all-time high of $0.77 in April 2021.
Price Action: CHZ is trading at $0.22, up 4% in the last 24 hours, according to Benzinga Pro.
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