The kick-off of the first match of the FIFA World Cup Qatar which will take place on November 20 is expected to have a big impact on the world of Web3 and Chiliz token (CHZ) sponsored by Crypto.com.
It is understood that the token creation by Chliz powers social.com has been used for football clubs such as Manchester City (CITY), Paris Saint-Germain (PSG), Arsenal FC (ACM), AC Milan (ACM), and FC Barcelona (BAR) .
Despite the developments in the CHZ ecosystem, its price is currently trading at monthly lows compared to its mid-October surge as the FIFA World Cup event approaches.
In general, the CHZ ecosystem is currently in the process of listing with the Poloniex exchange listing CITY, AFC and PSG tokens while Phemex six fan tokens from major football clubs.
Apart from that, CHZ also launched a fan token last month called ChilizX to carry out plans related to its original chain which is Chiliz Chain 2.0 to make it an Ethereum Virtual Machine (EVM).
Nevertheless, the tragic situation that befell FTX and Binance may be the cause of the price of CHZ depreciating by more than 35% in the past 2 days which is currently trading at the $0.1782 zone.
Despite this, questions after questions linger in the minds of investors in anticipation of whether the price will be able to make a rebound when CHZ has tested the support level at $0.1659.
Meanwhile, CHZ is likely to make a rebound from $0.1413 if a breakout occurs.
