Why Investors Weren't Hot on Chiliz This Week
Like a soccer ball near the end of its trajectory, the flight of specialty cryptocurrency Chiliz (CRYPTO: CHZ) headed toward the ground this week. According to data compiled by S&P Global Market Intelligence, its price slid by 11% over the five trading days, pushed downwards by chilly sentiment on crypto assets generally, and profit-taking more specifically.
In the run-up to the FIFA World Cup, investors understandably became excited about Chiliz's prospects. That's because Chiliz is the cryptocurrency anchoring a sports platform called Socios, which has a heavy emphasis on soccer (or football, as it's mostly known outside of the United States).
But it wasn't only football fever driving Chiliz's price higher during the continuing deep freeze that was and is the crypto winter. Bulls on digital coins and tokens are looking in the space for more offbeat and obscure investments that have the potential to rise above the gloom.
Source Fool.com
