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Chiliz Price Surges 13% as Binance Announces PEPPER Airdrop Support
Chiliz Price Gains Momentum with Binance Airdrop Announcement
CHZ, the native cryptocurrency of the sports blockchain platform Chiliz, has experienced a significant surge in price after Binance revealed its support for the airdrop of the PEPPER crypto token, offering enticing rewards to Chiliz holders. The Chiliz price has soared by 13%, reaching $0.07227, with its market cap exceeding $650 million.
Exciting Airdrop Opportunity for Chiliz Holders
Following Binance’s announcement, the initial snapshot for the PEPPER airdrop is set for October 10, with three additional snapshots scheduled later in the month. To be eligible for the PEPPER tokens, users must hold a minimum of 100 CHZ in their wallets, across funding, spot, and margin wallets.
This development has driven up the price of Chiliz as investors look to capitalize on the opportunity to receive PEPPER coins through the airdrop snapshots taking place between October 10 and October 31, 2024.
PEPPER Airdrop Details and Impact on CHZ Price
For every 150 CHZ held, Chiliz token holders will receive 1,000 PEPPER tokens as part of the airdrop. Eligible CHZ balances in designated account types qualify for the airdrop, with borrowed tokens excluded. The distribution of PEPPER tokens will occur in a single batch post-snapshots, without affecting trading services like Spot and Futures.
PEPPER will become the first meme coin on the Chiliz Blockchain, though its utility is currently unclear. The community developed PEPPER with the aim of fostering community engagement and participation.
CHZ Shows Strength in Price Movement
According to Coinglass derivatives data, CHZ’s open interest has risen by 58.45% to $69.39 million, with a 24-hour liquidation surpassing $1.22 million and short liquidations at $621,000.
In August, Chiliz (CHZ) saw a rebound from $0.043 to over $0.07, breaking through the $0.0715 resistance level. The current price movement suggests a bullish trend, with CHZ surpassing the 50-day and 100-day Exponential Moving Averages. The next key level to watch is $0.084, its lowest swing on April 13.
As the crypto space experiences renewed interest in airdrops, the PEPPER airdrop on Chiliz is attracting attention from investors seeking to participate in the growing trend.
Disclaimer
This article reflects the personal opinion of the author and is subject to market conditions. It is advisable to conduct thorough research before investing in cryptocurrencies. The author and publication do not assume any responsibility for financial losses incurred by individuals.