On the evening of December 8, it was revealed that a shark had secretly “discharged” a big amount of Chiliz token fan tycoon CHZ to the market in the previous several days.
In recent days, the fourth largest shark has been silently spewing CHZ.
This wallet address has sent a total of 41 million CHZ (more than 6 million USD) to the exchange in the last four days and currently holds 680 million CHZ, which is worth somewhere around 102.6 million USD.
The shark relocated Chilliz in two installments, according to Lookonchain:
Phase 1: This user sent 21 million CHZ to 9 wallet addresses on Binance, OKX, Bybit, and Kucoin 4 days ago. The “on-chain police” tracked and tracked the CHZ price movement as the other sharks moved, as shown in the graphic below.
Every time the other shark makes a move to “discharge,” the price fluctuates. – Lookonchain is the source.
Phase 2: About 5 hours ago, 20 million CHZ were still being transferred to the same 9 wallet addresses.
In contrast to the previous fever, the price has remained consistently red since the commencement of the 2022 FIFA World Cup. The urge to keep this cult fan token is steadily fading. As of press time, the token is trading pretty slowly around the $0.15 mark and is expected to experience significant price variations as the world football championship draws to a close.
Many in the community, however, are still looking forward to witnessing Chiliz Chain 2.0 (CC2), the project’s layer 1 blockchain, which debuted its testnet in April and is set to deploy its mainnet in the fourth quarter of this year.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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