Chiliz leads top gainers with 18% price surge

Three altcoins, Chiliz, Klaytn, and Blur, boast more than 15% gains as the top gainers on Jan. 16, as reported by CoinMarketCap.

Offered by the Malta-based FinTech provider of the same name, Chiliz (CHZ) has gained popularity as the primary digital currency for sports and entertainment. Sitting in the top place, the assets price sits at $0.1053, with a 24-hour trading volume of $263 million, an increase of 18.1%.

More impactful than its daily gains is its weekly growth of 28.1% over the past week, in which the token was said to outperform the overall global cryptocurrency market, which has experienced a decline of 1.1%.

Top Crypto Gainers |Source: CoinMarketCap

You might also like:

Ethereum applications take place as top gainers ahead of ETF announcement

Without major announcements in the last 24 hours, the price increase will likely have come from a post on X made a few days earlier, which states that the nodes on the Chiliz chain had been upgraded on Jan. 12.

???????????????? ???????????????????????????? ✅

We recently have upgraded our Chiliz Chain nodes. Make sure you upgrade your Chiliz Chain nodes to the latest version.

A list of all the nodes and their upgrades can be found below ????

— Chiliz ($CHZ) – The Sports Blockchain ⚽???? (@Chiliz) January 12, 2024

Using similar Layer 1 (L1) cryptocurrencies, which have decreased 3.8% in the last 24 hours, Klaytn (KLAY) takes the second spot on the Jan. 16 charts with 17.5% gains. The surge in Klaytn‘s price performance can be attributed to the joint proposal submitted by Klaytn Foundation and Finschia Foundation to merge the two blockchains to establish Asia’s web3 technological and ecosystem powerhouse. Pending approval, the proposed merger combines South Korea‘s foremost blockchain with Japan’s leading blockchain.

Rounding out the third spot, Blur (BLUR), the native token for the non-fungible token (NFT) marketplace and aggregator platform, emerges in the third spot with 15.3% returns.

According to data sourced from the crypto intelligence tracker Lookonchain, the NFT marketplace token BLUR underwent an unlocking of nearly 50 million tokens on Jan. 16 as part of a scheduled monthly occurrence, and it has happened eight times. Six of the eight instances have proven to be favorable for the asset.