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Chiliz Price Rose Like a Monster, Is It the Start of a ‘Low Cap Season’?

Highlights

    Chiliz price rose another 85%since the early trading hours manifesting a strong bull rally beyond $1 very soon

    The NFT token showcases a sense of steady growth due to multiple partnerships with a bunch of professional sports team for tokenized voting rights

    The assets with lower market capitalization have rallied high, multiplying 10x in price and market cap, hence pointing to a probable ‘low cap season’

Chiliz Price up by 1400% Since Inception!

Chiliz price appears to have no Chiliz as the bull run strongly heads towards $1. After Coinpedia reported about the bull run of CHZ price, recently, the market capitalization rose from $1 billion to more than $4 billion in just a couple of days. 

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With the massive surge, the token managed to achieve some of the milestones,

  • A peak of $0.94 in the early trading hours
  • 4th biggest asset in terms of trading volume on Coinmarket cap
  • Chiliz becomes the 20th largest crypto asset in terms of market cap
  • The price rose more than 600% in the past seven days 

Currently, the CHZ price is $0.7655 with a massive jump of 95.38% in the last 24 hours. However, the next upcoming targets are set at $0.84, $0.93 and finally smash $1 to maintain the uptrend further. 

The price is continuously trading in the overbought region of the RSI of CHZ price above 70 levels for the past couple of days. And hence, a slight pullback may be expected to the levels close to $0.5 or lower as predicted by an analyst, Altcoin Sherpa.

The analyst also advised waiting for a price pullback, hence indicating an upcoming bull run to be stronger and higher.

Also Read: Top 2 Promising NFT Tokens Are Set to Explode, Says Josh Rager

Is This a Low Cap Season?

The top five crypto assets according to the market cap trend sideways since the beginning of the weekend. However, the Bitcoin price is attempting to record some gains, still, the profits are below 1% at the press time. The other assets, Ethereum price, Binance Coin price and Cardano price are experiencing a notable drain out.

On the other hand, when the major cryptos are dipping or trending in a very narrow region, some of the assets with low market cap surge. Other than Chiliz price which rose more than 600%, some of the other assets followed the suit.

Some of the notable surges of the assets which surged like a monster in the past seven days are,

Ankr (ANKR)

The ANKR price rallied massively gaining more than 132% in the past seven days, however, the 24-hour gain stands at 55.4%. The market cap rose enormously from just $85 million at the beginning of this week to more than $563 million at the press time. The price also increased from $0.03 to $0.07.

Harmony (ONE)

Harmony price surged like a giant gaining more than 30% in the past 24 hours and 72.5% in the past week. With the surge, the asset entered the top 100 cryptocurrency rankings. The market cap of the asset rose from just $54 million to more than $620 million.

Chromia (CHR)

Among the notable surges, CHR can be included a includes a monster mega rally of more than 800% jump in the past seven weeks, 48.4% alone in the past 24-hour. The market cap surged from just $21 million to as high as $323 million with a price of $0.6807 at the press time.

Akropolis (AKRO)

The Akropolis price also manifested the likes of the above-mentioned rally by surging nearly 100% in the past week. The market cap rose from $21 million to more than $169 million. The AKRO price at the time of writing is $0.06066 with a jump of 27.57% in the past 24 hours. 

Collectively, the Chiliz price along with the other low cap assets rallied showcasing the strength, pointing out towards a probable ‘Low Cap Season’ of 2021. However, the major tokens like Bitcoin price, Ethereum price have relaxed their bull run, therefore it would be more interesting to witness the low cap rally one the major asset bull run resumes.

Interesting Read: Top 7 Altcoins That are Poised to Outperform Bitcoin

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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