How Juventus ($JUV) and Chiliz ($CHZ) Outpaced Bitcoin with 16% Monthly Climb

Juventus and Chiliz enter October holding more gains than Bitcoin, so what’s fuelling $JUV and its foundational blockchain token?

The general crypto market experienced an upturn moving from September into October, but even as Bitcoin gained a modest 9%, the foremost cryptocurrency was outpaced by the Fan Token® of a surging Italian giant, and the token that represents the chain it’s based on.

As the saying goes, a rising tide lifts all boats. But some boats rise higher than others.

Let’s take a look at the market conditions that boosted Juventus ($JUV) and Chiliz ($CHZ) in the past few weeks.

What’s Fuelling Juventus Fan Token® ($JUV) Gains?

The changing of the seasons proved to be an exciting time for Juventus fans. Rumours that club legend Alessandro Del Piero was primed to become a board member – and possibly even club president – prompted traders to boost the token’s trade volume by 900% in one day, hitting a peak of $18M.

CATCH UP: Juventus ($JUV) Holds On to 15% Growth After Del Piero Board Rumours

But the sharp-eyed readers among you will have noticed that the $JUV token price had actually started climbing long before Del Piero got his standing ovation at the Allianz Stadium.

The $JUV price of $0.281 on Sept. 16 proved to be a monthly low for the Juventus token.

Two convincing wins immediately followed. Juventus beat NEC Nijmegen 5–0 on Sept. 17, then Atalanta 2–0 on Sept. 20, recovering from their 3–2 defeat at Sassuolo. Seven goals and two clean sheets provided a sound sporting backdrop as $JUV began its recovery.

Before the Del Piero news even broke, the $JUV spot price had already climbed 14%. The legend’s appearance briefly pushed the token price to $0.346, marking a 23% increase since just two weeks earlier.

At time of writing, the $JUV price stands at $0.328, meaning that after the smoke cleared and the drama died down, the token still holds on to 16.7% gains from the September low.

Ultimately, broader market conditions, combined with a good showing by Juventus in early season games, were the main drivers of $JUV’s climb.

The appearance by Del Piero, combined with the media furore his presence created, was to $JUV what the legend was so often to the Juventus sides he turned out for in the past – the icing on the cake.

Chiliz ($CHZ) Heats Up

The Chiliz Group had a lot to feel good about moving into October. The company just took the first step in its U.S. expansion when it announced that the university programs of LSU, Maryland, Michigan State, Penn State and Texas A&M would launch official Fan Token® digital assets on the Chiliz blockchain.

A primetime news segment on FOX Business by Chiliz founder and CEO Alexandre Dreyfus would have done little to harm Chiliz in the eyes of the crypto faithful, as well as the non-crypto viewers watching at home.

Ultimately, the $CHZ token rode this wave of attention to climb 16.5% between Sept. 16 and time of writing, as the spot price increased from $0.013 to $0.015, as seen on the chart below.

In the same timeframe, the Bitcoin spot price rose by around 9%, as part of a brief market-wide upturn which, at this point, could still either accelerate further, or fall flat.

Although Chiliz and Juventus have the obvious connection of being a blockchain+token combo, that doesn’t necessarily mean they follow each other’s lead in the market. On this occasion, their 16% gains were coincidental, but their fates may be closer tied in the years to come, as the SportFi arena comes to fruition.

Greg Thomson: Fan Tokens® Market Reporter