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There has been a new development on the Chiliz (CHZ) front, a popular fan token.
According to Lookonchain's post, CHZ Multisig wallet transferred 60 million CHZ (worth $4.33 million) to the “0x220A” wallet 1 hour ago.
Lookonchain also warned investors by pointing out that there was a 12% decrease in the CHZ price after such a transfer took place last time.
“Chiliz Multisig wallet transferred CHZ 60 million (worth $4.33 million) 1 hour ago again to wallet “0x220A”.
The last Chiliz Multisig wallet was 30 million transferred on November 20, worth $2.3 million. “After this transfer, the CHZ price dropped by approximately 12%.”
CHZ, which has decreased by 3.5% in the last 24 hours, continues to be traded at $ 0.0718 at the time of writing.
Note that #Chiliz: Multisig wallet transferred 60M $CHZ($4.33M) to wallet"0x220A" again 1 hour ago.
The last time #Chiliz: Multisig wallet transferred 30M $CHZ($2.3M) was on Nov 20, after that, the price of $CHZ dropped by ~12%. https://t.co/DCn9y8dYIh pic.twitter.com/upRIkw8tEY
— Lookonchain (@lookonchain) November 28, 2023
*This is not investment advice.