Chiliz Chain Hits 100K Wallets and 500K Txns, But Price Drawdown Persists

• Chiliz Chain recently surpassed a milestone by exceeding 100,000 wallet addresses and 500,000 transactions.
• Chiliz has also received approval for its “Fan Token” trademark in America.
• Despite these positive developments, the CHZ token price has not seen any significant growth.

Chiliz (CHZ) Chain Hits Impressive Milestone

The recently launched Chiliz (CHZ) Chain has gained significant traction in such a short time with the recorded positivity as it has just hit a milestone by exceeding 100,000 wallet addresses and 500,000 transactions. This is barely two months after the CHZ Chain mainnet went live.

Chiliz Network Overview

Chiliz Chain is a Layer-1 first-of-its-kind blockchain infrastructure designed for the entertainment and sports industry to launch Web 3.0 products and facilitate community engagement and interaction. It is an EVM-compatible, Proof-of-Stake Authority (PoSA) blockchain that is focused on providing infrastructure to sports brands and teams.

Recent Developments

In addition to surpassing the impressive milestone of 100,000 wallet addresses and 500,000 transactions, Chiliz now owns sole right to the Fan token as it has completed registration and received approval for its “Fan Token” trademark in America. Furthermore, Ankr was chosen by Chiliz to become its main Remote Procedure Call (RPC) provider in June this year.

Price Drawdown

Despite all these developments with CHZ still having a significant price drawdown with active address activity within the last two months not being so impressive compared with other months prior to that.

Conclusion

The recent developments have been very encouraging as they signify how far the Chiliz network has grown but at same time also show that there is still room for improvement especially when it comes to its address activity which can help boost its price further .