The Rise of Ethereum-Based Fan Engagement Tokens: A Closer Look
When it comes to the world of crypto, the whales are always on the move, and their latest target seems to be an Ethereum-based fan engagement token known as Chiliz (CHZ). This token, which is the native token of Chiliz, a web3 infrastructure provider for sports and entertainment, has been experiencing a surge in interest and investment.
According to recent data from the analytics firm Santiment, whale addresses holding at least 10 million CHZ tokens have acquired a total of 42.67 million CHZ in the past 30 days. This influx of investment has driven up the token’s value, with CHZ up nearly 2% in the past 24 hours, over 14% in the past week, and a whopping 27% this month.
Not only is Chiliz seeing a surge in investment, but it is also experiencing its highest trading volume level in 22 months, indicating a growing interest in the project.
At the time of writing, CHZ is trading at $0.136, showcasing its steady rise in value.
But Chiliz is not the only token making waves in the crypto world. Ondo Finance (ONDO), a project focused on tokenizing real-world assets (RWAs), has also been gaining traction. Santiment reports that ONDO is the top trending token in the crypto space, with a 550% increase in the number of non-empty ONDO wallets in just three months.
Ondo Finance, led by industry veterans Justin Schmidt and Nathan Allman, former employees of Goldman Sachs, focuses on tokenizing short-term bonds and US Treasuries. The project has seen impressive growth, with ONDO trading at $1.24 at the time of writing and experiencing a 29% increase in the past week and a remarkable 61% increase this month.
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