Binance'in Chiliz$CHZ

After announcing airdrop support for PEPPER tokens to its holders, there was a significant increase in CHZ. With this development, the CHZ price increased by 13% to $0.07227, while its market value exceeded $650 million.

The first snapshot for the PEPPER token airdrop will be taken on Thursday, October 10, with three additional snapshots to be taken later this month. Users who want to participate in the airdrop and receive PEPPER tokens must have at least 100 CHZ in their wallets, including spot and margin accounts. Following this announcement, investors began buying CHZ to take advantage of the opportunity to earn PEPPER tokens, and Chiliz saw a significant increase in price. 1,000 PEPPER tokens will be given to every user who holds 150 CHZ, and the airdrop will take place between October 10-31, 2024. Chiliz balances in certain account types will be eligible, excluding borrowed tokens. PEPPER token distribution will be made in a single transaction following the snapshots.

The airdrop process will not affect trading services such as spot and futures on Binance. However, in order for the PEPPER token to be listed, it will need to go through Binance’s standard review process, meaning that participation in the airdrop does not necessarily mean that it will be listed. PEPPER is the first meme token developed on the Chiliz Blockchain. Although its purpose and scope of use are not yet clear, it is stated that it was created by the community to “take control.”

Chiliz Breaks Major Resistance
According to Coinglass’s derivatives data, Chiliz’s open interest increased by 58.45% to $69.39 million. Liquidation in the last 24 hours exceeded $1.22 million, with short position liquidations alone reaching $621,000. In August, the CHZ token had recovered from $0.043 to surpass $0.07. Chiliz also formed a double top formation by turning the $0.0715 resistance into support.

CHZ strengthened its bullish momentum by moving above the 50-day and 100-day Exponential Moving Averages. Currently, Chiliz’s next target is to surpass the April 13 low of $0.084.