ChilizX Fan Token Exchange Launches 0 Trading Fee Promotion, when Will We See CHZ Price Recover?

Key highlights:

• ChilizX, the top fan token exchange, just announced they’re waving their trading fees for the whole month of September – and this could be huge.
• Normally they charge a small 0.2% fee on each transaction. But now you can exchange tokens from clubs like Barcelona and Juve absolutely free for 30 days.
• With more volume on ChilizX, it also drives up demand for CHZ- the token that makes the whole fan engagement thing possible on their platform.

ChilizX, the leading fan token exchange powered by CHZ, recently announced an exciting 0 trading fee promotion for the month of September. This coincides with Chiliz’s broader “September Festival” promotional campaign. But what does this mean for the struggling CHZ token, which has fallen over 70% in the past year? Let’s explore the details of the promotion, and whether it could help spark a CHZ price turnaround.

? Zero Trading Fees ?

To celebrate the ChilizX September Festival, we are enabling zero trading fees throughout September! ?

Enjoy the benefits of https://t.co/UVuHgoLJ6f, the #1 Fan Token exchange, at zero costs. ?

? https://t.co/2rPos9Lg6U#ChilizXFestival ⚡️ $CHZ pic.twitter.com/PASkJWf7X6

— ChilizX – Powered by $CHZ ?️ (@ChilizX) September 1, 2023

An overview of ChilizX and CHZ

First, a quick primer for those less familiar with the Chiliz ecosystem. ChilizX is an exchange platform specifically built for trading fan tokens- digital assets linked to sports teams and brands. These tokens allow fans to engage with their favorite clubs in new ways, like voting on decisions and accessing exclusive benefits.

CHZ is the native token of the Chiliz blockchain, which powers fan token creation and transactions. Fans must purchase CHZ in order to acquire fan tokens on ChilizX and participate in fan engagement activities. So increased fan token demand directly correlates with increased CHZ demand.

As the fan token ecosystem grows, blockchain collaboration with the sports world is likely to increase. See our article Top Collectibles for Sports Fans.

The significance of 0 trading fees

ChilizX has normally charged a 0.2% trading fee on fan token transactions. But for the entire month of September, they’ve eliminated fees completely. This makes exchanging fan tokens fast and frictionless for traders.

Lower trading fees should incentivize greater platform usage and trading volume. With over 35 fan token listings and partnerships with massive clubs like FC Barcelona and Juventus, ChilizX has huge potential to capitalize during this promotion.

Increased fan token trading volume is also great news for CHZ. With no fees, fans can more freely convert cash into CHZ to purchase their club’s tokens. This could drive more demand for the foundational CHZ token.

CHZ price struggles despite platform growth

The 0 fee promotion is well-timed, considering CHZ’s recent price slump. CHZ is down over 90% from its all-time high above $0.89 set in early 2021. And September has continued the downtrend, with CHZ Price losing over 20% so far this month.

This is puzzling when you consider the significant growth ChilizX and fan token adoption have achieved recently. Just this year, ChilizX has listed fan tokens for teams like Aston Villa, Inter Milan and Atletico Madrid. The platform now boasts over 35 tokens, and has processed nearly $1 billion in fan token trading volume.

When will the CHZ price recover?

Despite the disconnect between platform success and token price, there are reasons to be optimistic about a CHZ reversal. The 0 fee promotion combined with ChilizX’s surging user base could provide the catalyst needed. If trading volumes and new user signups skyrocket in September, expect increased CHZ demand.

One piece of data that fan token investors should follow is the long-term CHZ price prediction.

• Chiliz price prediction 2025: The Chiliz price prediction for 2025 is currently between $ 0.056991 on the lower end and $ 0.182878 on the high end. Compared to today’s price, Chiliz could gain 202.80% by 2025 if CHZ reaches the upper price target.
• Chiliz price prediction 2030: The Chiliz price prediction for 2030 is currently between $ 0.037081 on the lower end and $ 0.114972 on the high end. Compared to today’s price, Chiliz could gain 90.37% by 2030 if it reaches the upper price target.

Of course, macro market conditions will play a role too. September is historically a volatile month for crypto, so prices across the board could continue to suffer in the short term. But platforms with strong fundamentals and utility like ChilizX should recover in time.

The fan engagement model is still novel and could become more widely adopted. If crypto winter truly accelerates Web3 and metaverse development, fan tokens have huge potential as sports transition to virtual worlds. And as the fan token trailblazer, CHZ is well-positioned for long-term success.

September’s 0 trading fee event could kickstart renewed CHZ momentum. But the token likely needs broader macro recovery before it can challenge previous all-time highs. Still, CHZ remains one of the most intriguing Web3 plays in sports and a token to watch closely in the years ahead.