Socios.com Social Signal +22% in 1d, $CHZ Price +2.7% in 7d, Why?
The Boston Celtics basketball team will join fan token platform Socios.com.
This announcement came out on 7th Jul, and drove up Socios.com and the $CHZ social signal score to 18.97K. So far, the social signal kept above 18K.
Social signal is a very key signal you should check if you are a trader of $CHZ. The below graph clearly shows that the $CHZ token price moves in the same direction as Socios’s social signal score.
Socios.com’s 7d users (97.29K -1.58%) and 7d transactions (103.44K -3.11%) did not react positively to the news, yet slightly dropped.
Socios.com is a dapp to bring fans closer to their clubs, let them vote on club matters and reward them for their participation. They’ve signed with several world-famous football and esport teams, including Juventus, FC Barcelona, Paris Saint-Germain, Atletico de Madrid, Galatasaray, OG, UFC, etc. This year, Premier League giant Manchester City has also partnered with Socios.com to launch the $CITY token on the Chiliz blockchain.
On Socios.com, sports teams will issue their own Fan Tokens. Fan Tokens are cryptocurrency assets that represent your ownership of a voting right. They allow you to vote in every single poll the club or team publishes on the app and allow you to earn unique club-specific rewards and experiences. You can buy Fan Tokens with $CHZ, the Chiliz blockchain’s native token.
So if you want to buy $CHZ and participate in votes on Socios.com, you can do a price analysis for $CHZ based on the performance of Socios.com. It will give you basic knowledge of the popularity of the dapp and token on social media, whether there are more users using Socios.com dapp or whether they are doing transactions.
As the 90d dashboard shows, the $CHZ price has a high correlation with Socios.com’s users and transactions in the long term.
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Originally published at https://www.dapp.com.
