Home Price Predictions Chiliz Price Prediction: Socios Platform’s CHZ Token Feels Chill of Altcoin Market Collapse

Chiliz Price Prediction: Socios Platform’s CHZ Token Feels Chill of Altcoin Market Collapse

Peter Henn
Last Updated August 22, 2023 1:43 PM

Key Takeaways

  • The Chiliz coin was subject to the United States Securities and Exchange Commission’s assault on altcoins in early June 2023.
  • Ironically, CHZ had only earned the status the previous month when the crypto’s mainnet was launched
  • Can Chiliz survive the onslaught, or will it crash and burn?

It was all going pretty well for Chiliz. The native token of the Socios network had stepped out of the shadows and, when its mainnet was launched in May 2023, become a coin after spending rather too long as a token. Less than a month after it got a blockchain of its own, though, the crypto got a nasty shock. When the United States Securities and Exchange Commission (SEC) launched court cases against Binance and Coinbase in June this year, on the lists of 61 potential unregistered securities that the exchange traded in was CHZ. This sent the price of the coin tumbling as investors looked to mitigate potential future losses.


But what is Chiliz (CHZ)? How does Chiliz work? Let’s take a look and see what we can find out, and also examine some of the Chiliz price predictions that were being made as of 15 June 2023. 


Chiliz (CHZ) Explained

Chiliz  is the native token of the Socios.com web platform. The idea behind Socios, which was founded in 2016 by crypto entrepreneur Alex Dreyfus, was to turn sports fans into participants in their chosen clubs via the power of blockchain technology. 

The Chiliz token is used to help power the system, giving people votes on which sports teams will join the likes of Manchester City, Barcelona, Inter Milan and Galatasaray in being one of more than 100 sporting organizations which have their own Socios-based tokens. 


How Chiliz Works

For a long time, Chiliz was based on two other blockchains, Ethereum (ETH) and Binance (BNB). In May 2023, though, this changed when the Chiliz blockchain was publicly launched . This meant that Chiliz, which had been a token since it first hit the open market in 2019, was now officially a coin. 

Chiliz is used in a governance role, with holders able to vote on changes to the network. People can also use their CHZ to buy fan tokens and the coin can be bought, sold, and traded on crypto exchanges. 


CHZ Price History

It’s now time to take a look at the Chiliz price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done in the past – including during the long period when it was a token – can help give us some much-needed context when it comes to making and interpreting Chiliz price predictions. 

When Chiliz first came onto the open market in September 2019, it was worth about $0.01. It stayed somewhere around that level until March 2021 when, as the crypto market blossomed, CHZ exploded, shooting up to what still serves as an all-time high of $0.8915 on 13 March that year. 

While it then fell down as the market slumped over the summer, things picked up again in the Autumn. Dreyfus announced  Socios would spend $60m on tokenization, while the overall market flourished as Bitcoin (BTC) reached new heights. The NFT craze also had an impact and, on 13 November it reached a high of $0.5935. After that, it sank as the market ran out of steam over economic worries relating to the Omicron variant of Covid-19 and it closed the year at $0.2837.

Overall, things looked promising in early 2022, as the then-token rallied to a high of $0.3287, it slid down again, with things getting worse following a series of market collapses and it was worth just $0.08135 on 18 June. 

Again, the autumn looked like it would be a time of recovery, with CHZ reaching a high of $0.2816 on 23 September but the collapse of the FTX exchange in November led to it closing the year at $0.1002, a loss of about 65% throughout 2022. 

2023 started promisingly. It rallied to peak at $0.1779 on 8 February, but then it was all downhill. While the news of the new blockchain in May saw its decline stop as it stayed at a little over $0.10, the news that the SEC considered it to be an unregistered security saw its price collapse again and, by 15 June 2023, it was worth about $0.065. 

At that time, there were a little over seven billion CHZ in circulation out of a total supply of 8,888,888,888. This gave the coin a market cap of about $456 million, making it the 73rd-largest crypto by that metric. 

Chiliz Price Analysis

Recently, the price of Chiliz, like many other altcoins – cryptos that exist on their own blockchain but are not Bitcoin – has taken a hit. Before the SEC announced its legal action on 5 June, it was worth $0.1009 but, in the ten days since then, it has lost more than 35% of its value. 


Chiliz Coin Price Prediction

With that all out of the way, let’s take a look at some of the Chiliz price predictions that were made on 15 June 2023. It is important to remember here that price predictions, especially for something as potentially volatile as crypto, are very often wrong. Furthermore, you should note that many longer-term cryptocurrency price predictions are made using an algorithm, which means that they can change at any time. 

Firstly, CoinCodex  made a short-term Chiliz price prediction for 2023 that suggested things would get worse before they got better, with the crypto dipping to $0.06476 by 20 June before rallying to $0.0788 by 16 July.  The site’s technical analysis was, despite that, heavily bearish, with 25 indicators making discouraging signals compared to just eight making bullish ones. 

Chiliz Forecast for 2023

Regarding other site’s CHZ price predictions for this year, CoinPriceForecast  said the crypto would be worth $0.0847 by the end of the year, while DigitalCoinPrice  thought it would comfortably break past 10 cents to trade at an average of $0.14. Bitnation , meanwhile, said that Chiliz would trade at $0.0973 this year.

Chiliz Forecast for 2025

The Chiliz price prediction for 2025 from DigitalCoinPrice said that the coin would trade at $0.23 that year, while Bitnation argued for a slightly lower future Chiliz price of $0.2271. On the other hand, CoinPriceForecast was much more cautious, saying it would trade at $0.1272 in two years time and climb to $0.1463 by the end of the year. 

Chiliz Forecast for 2030

When it came to making a more long-term Chiliz price prediction for 2030, Bitnation saw the crypto trading at $0.5515, while DigitalCoinPrice had it at $0.68. CoinPriceForecast was less enthusiastic but still bullish, saying that it could reach $0.231 in June that year and $0.244 in December. 


Is Chiliz a Good Investment?

Things looked like they were slowly turning round for CHZ in May this year as the crypto finally got its own blockchain. Ironically, though, this may have been the thing that spelled disaster for Chiliz, as its new status as an altcoin meant that it entered the sights of the US financial regulators. 

Going forward, a lot will depend on the outcome of any court cases even tangentially involving CHZ. While the token and its platform’s fan tokens are relatively popular, potential investors will need to have the assurance that their holding will not find themselves the subject of any legal bans. Either way, it is vital that you do your own research before deciding whether or not to invest in CHZ.

Will Chiliz go up or down?

In all honesty, no one can really say whether or not CHZ will rise. While the price forecasts are positive, price predictions have a well-deserved reputation for being wrong. Remember, too, that prices can, and do, go down as well as up. 

Should I invest in Chiliz?

Before you decide whether or not to invest in Chiliz, you will need to do your own research, not only on CHZ but on other coins and tokens such as Ethereum and Bitcoin (BTC). More importantly, you should never invest more money than you can afford to lose. 



How many Chiliz are there?

As of 15 June 2023, there were a little over seven billion CHZ in circulation out of a total supply of 8,888,888,888.

Will Chiliz reach $1?

It might do but, if it does, it may not happen for quite some time. DigitalCoinPrice said that the coin should break past the dollar in 2032. However, not only are price predictions likely to be wrong, but also keep in mind that CHZ has never traded that high, with a record price of $0.8915, set on 13 March 2021.  

What is Chiliz for?

The Chiliz coin is used to help power the Socios.com network. Holders can vote on which new sports teams will get their own fan token, and it can also be bought, sold, and traded on exchanges.



Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.