Large holder has transferred 20 million CHZ fan tokens to the OKX and Binance exchanges
The asset reacted by falling by 12% in 3 days
09.12.2022 - 15:00
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What’s new? Analysts at 0xScope (Web 3.0 knowledge graph protocol) have reported large transactions with the Socios fan platform’s native token, Chiliz (CHZ). In just 3 days, an unknown holder of the asset transferred 20 million CHZ to various external addresses, then deposited them on Binance and OKX cryptocurrency exchanges. In this, the price of the token fell by 12% from $0,1713 to $0,1508.
$CHZ's largest EOA holder quietly moved 20M $CHZ to different EOA addresses and then deposit to #binance and #okx for the past 3 days.CHZ token price dropped 12% during this time. pic.twitter.com/PwHaG4idy0 — 0xScope (🪬 . 🪬) (@ScopeProtocol) December 9, 2022
What else is known? The name of a major investor in the asset has not been disclosed. What is known, however, is that his address still ranks first among CHZ owners on external wallets, the address contains 679 million tokens (7,64% of the total supply).
For now, this address still ranks 1st among CHZ EOA holders that control 679M $CHZ (7.64% of the total supply).Track this address here:https://t.co/a9iPgKxhZt pic.twitter.com/xH1hGRjdI4 — 0xScope (🪬 . 🪬) (@ScopeProtocol) December 9, 2022
Socios is an application for sports fans. With tokens issued on the Chiliz Chain blockchain, users can vote on different decisions for their favorite teams, such as choosing the colors for their uniforms or music before the matches. In addition, fan token holders get access to gifts and rewards. In this, the assets on the platform are utility tokens and are not used to buy goods.
As of December 9, 14:10 UTC, the value of CHZ increased slightly, amounting to $0,151905 (CoinGecko’s data). At the end of October, the CHZ rate jumped by 23,7% in a week. Analysts called interest in the World Cup in Qatar one of the probable reasons for the significant growth of the asset’s rate.
Read about what are fan tokens in GetBlock Magazine’s special feature.
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