Chiliz founder brings up project plans to help some of its users affected by the FTX collapse Founder confirms the move resulted from the 37 million CHZ allegedly hacked from the exchange; CHZ volume, and network growth spikes Chiliz [CHZ] users who held the token on the now-collapsed exchange, FTX, might receive compensation from the […]
While revealing the plans, Dreyfus noted that each FTX user who gets chosen would receive $10,000. He also stated that Chiliz was waiting on its liquidator to confirm the user database and get approval from its liquidator. After this, the project would roll out the funds. In addition, Dreyfus clarified that funds would emerge from its treasury.bearing the name “FTX” containing CHZ tokens had surfaced.
“The 38M $CHZ is the amount on-chain that was on FTX exchange in their wallet up to last week. This initiative will be only for individual users and not for institutions”spiked 58% to $589.65 million in the last 24 hours, according to Santiment. This implied that many transactions had passed through the Chiliz network.
While the volume increased, CHZ recorded a downturn in profits for its investors. The Market Value to Realized Value ratio revealed this stance. As seen above, the MVRV ratio had dropped to -13.83%. This decrease meant that investors were far from making double their recent short-term buys. Hence, traders’ tokens had lost some value. Therefore, CHZ could go further down in value, with almost no sign of respite.a massive increase in its network growth.
Additionally, the CHZ-weighted sentiment abandoned the lows it recovered on 12 November. Moving up to 1.429 in that regard suggested that the token could fend off the bearish state in the coming days.Subscribe to get it daily in your inbox.
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