Football enthusiasts all around the world are marking their calendars in preparation for the largest athletic event of the year, the FIFA World Cup 2022 in Qatar. Chiliz (CHZ), a cryptocurrency focused on soccer, had a solid positive performance this week, pushing back over the critical resistance line with considerably increased trading activity.

Furthermore, the overall market value is currently 1.33 billion USD, a monthly high for the football fan cryptocurrency. In instance, the market value of Chiliz (CHZ) was still below 1 billion USD on 24th of October 2022, before rebounding to levels the cryptocurrency had previously sustained in April, before to the notorious Terra (LUNA) incident.

The FIFA World Cup '22 is about to begin in two weeks, thus football-related tokens are gaining popularity as football fans from all over the world rush to Doha, Qatar to cheer on their national teams. Some of the tokens on the rise were tokens of national teams of: Spain, Portugal, and Argentina. 

Movement of Chiliz since coming to the market. (Source: CoinMarketCap)

Sources:

https://coinmarketcap.com/currencies/chiliz/

https://www.fxstreet.com/cryptocurrencies/news/chiliz-sees-double-digit-gains-as-football-fans-await-fifa-world-cup-2022-202211031213

https://www.fxstreet.com/cryptocurrencies/news/chiliz-price-up-15-as-fifa-world-cup-2022-draws-close-heres-what-to-expect-202210310844

https://dailycoin.com/chiliz-chz-scores-25-weekly-gains-as-fifa-world-cup-nears-kick-off/

https://www.investing.com/news/cryptocurrency-news/chiliz-chz-scores-25-weekly-gains-as-fifa-world-cup-nears-kickoff-2934030