If Chiliz (CHZ) cryptocurrency has caught your attention, you aren't alone. Many investors are talking about it now and it has something to do with soccer star Lionel Messi and the Barcelona team. What’s Chiliz coin's price prediction and can it reach $10 before 2025?
At its current price of $0.33, Chiliz crypto has gained almost 1,200 percent since January 2021. The altcoin has climbed 30 percent in the past week alone and has outpaced blue-chip cryptocurrencies like Bitcoin and Ethereum.
What is Chiliz (CHZ) crypto and how does it work?
There are thousands of cryptocurrencies out there seeking your attention. Many have a track record of blockbuster returns while some have disappointed. Looking at the impressive returns altcoins like Dogecoin, Telcoin, and Polygon have delivered, many investors are hunting for the next crypto to explode.
To better assess Chiliz crypto’s price prediction, you need to understand and gauge its prospects. Chiliz is the official cryptocurrency of Socios—a platform for trading fan tokens issued by professional sports teams.
Socios supports trading in fan tokens of soccer clubs like Italy’s Inter Milan, Spain’s Barcelona, England’s Manchester City, and France’s PSG. Fans use Chiliz crypto to purchase their team’s token on Socios.
Why Chiliz (CHZ) crypto's price is going up
PSG fans have rushed to buy the club’s token in anticipation of it signing Messi from Barcelona, which is driving up Chiliz crypto's price. The tokens give fans the right to participate in their team’s decisions. Also, fans can use the token as currency to purchase the team’s products.
The rise in Chiliz coin also comes after Socios inked a sponsorship deal with Italy’s soccer team Inter Milan. The arrangement promises to bring more traders to the fan token exchange platform. As the tool that facilitates Socios trades, Chiliz crypto stands to benefit from increased trading activity on the platform.
Is Chiliz (CHZ) a good investment?
The main reason you might be interested in the Chiliz (CHZ) price prediction is to try and gauge if the crypto is a good investment. Looking at Chiliz’s historical performance, the altcoin has paid off well for investors. Those who purchased it a year ago have seen their investment grow more than 2,400 percent.
The crypto has had many ups and downs since its debut. In September, Chiliz fell to what still stands as its all-time low. Those who took faith and bought that dip have seen their money grow more than 8,000 percent.
While there isn't a guarantee that Chiliz's price will continue to soar, it looks to be an investment risk worth taking. For example, the current price offers investors a chance to buy CHZ coin at more than a 60 percent discount to its all-time high of $0.89 reached in March 2021. Also, the future looks promising for Chiliz crypto after Socios signed Italian soccer champion Inter Milan to advertise its fan token trading service.
Chiliz (CHZ) price prediction and how it could reach $10 before 2025
Investors want to know Chiliz crypto’s price outlook to assess whether the current pullback offers a good opportunity to buy the dip. The altcoin boasts a gain of 30 percent over the past month. If it can grow at that rate on a compounded basis, it could hit $1 by the end of 2021 and reach $10 before 2025.