The transferred CHZ alone was likely too small to have a meaningful impact on the price. This is reflected in the CHZ price which registered a slight uptick by 0.77% to its $0.13 press time price.appear to have lost their momentum within this range, meaning it is now acting as a psychological buy zone or a take-profit zone for short-sellers.
Although the 1.8 million CHZ transfer did not have a sizable impact on price action, it did contribute to exchange flow characteristics. It may also offer potential insights into what to expect moving forward. For example- the exchange inflow indicator registered the highest weekly spike in the last 24 hours.A deeper look into CHZ’s supply and demand dynamics reveal that the supply outside exchanges had an overall decline in the last 30 days.The supply of CHZ on exchanges has grown during the same time. The latest outflow from Chiliz to Gate.io adds to this outcome and suggests that this has limited CHZ’s potential upside.
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