As a seasoned analyst with over two decades of experience in the tech and finance industry, I find the recent developments surrounding CHZ intriguing. Alexandre Dreyfus, the CEO of Chiliz, has made strategic moves that have propelled this digital currency to new heights. His interest in acquiring RTFKT’s NFT platform, a move that could potentially revolutionize the sports entertainment industry, is a testament to his vision and ambition.
Alexandre Dreyfus, head of Chiliz (CHZ $0.11 with a 7.0% 24h volatility and a market cap of $1.02 B), which runs the sports entertainment platform Socios, has shown interest in purchasing Nike’s non-fungible token (NFT) platform RTFKT following the announcement that the NFT project plans to cease operations by January 2025.
On social media platform X (previously known as Twitter), Dreyfus subtly suggested that the Chiliz ecosystem might be interested in acquiring RTFKT’s assets and moving them onto the CHZ blockchain. This announcement led to a significant surge, with the digital asset price soaring by 9.95% over the past 24 hours, currently trading at $0.1125. The trading volume of this altcoin also saw a substantial increase of 85%, reaching $485.40 million, indicating a growing interest among investors.
It is important to note that RTFKT was acquired by Nike during the 2021 crypto bull market for an undisclosed sum, and the platform went on to release numerous products, including the debut of the first-ever digital sneakers that turned into physical products.
According to a recent announcement, RTFKT is preparing to unveil an upgraded website that highlights the trailblazing projects that have marked their journey. This move aims to recognize and safeguard their innovative legacy. Additionally, the NFT company mentioned they will be releasing one final drop as a symbol of their dedication to exploring new frontiers and merging realms.
As per DefiLlama’s data, RTFKT stands ninth among NFT projects with the highest earnings, accumulating an impressive $45.67 million in total royalties throughout its lifetime. Notably, its most profitable release was CloneX, a collaboration between RTFKT and renowned Japanese artist Takashi Murakami.
In the announcement, RTFKT clarified that their NFT project isn’t terminating but rather evolving into its intended form – a symbol of cultural transformation.
CHZ Token About to Enter Top 100
1-day price increase of 9% boosts CHZ’s weekly gains to 26.56%. Over the last month, the value of this digital asset has soared by a remarkable 104.31%, erasing years of slow growth in just a few short weeks. With a market capitalization of $1.02 billion, CHZ is on the verge of breaking into the top 100 most valuable cryptocurrencies on CoinMarketCap.
Source: TradingView
The current Relative Strength Index (RSI) for CHZ is 71.47, indicating strong buying activity for the digital asset. This could indicate that a period of reduced buying pressure or cooling off might occur next, given that the coin has been in an overbought state for some time. Yet, since altcoins have seen substantial gains since November, there’s a possibility that CHZ may approach its all-time high of $0.8915 during this cycle.
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2024-12-03 18:48