BTC - 2 Cryptos That Are Still Soaring Right Now
The crypto market started off August on a hopeful note, filled with optimism about Ethereum (CRYPTO: ETH) and The Merge, which has been one of the most anticipated events of the year for the crypto community. But by the end of the month, crypto prices were heading lower once again as discussion of inflation rates and further monetary tightening by the Federal Reserve dominated the headlines.
Yet even with Bitcoin (CRYPTO: BTC) and Ethereum trending down for the month, there are a few cryptos still outperforming the broader crypto market. Two of the best-performing cryptos of the past month were Chiliz (CRYPTO: CHZ) and Cosmos (CRYPTO: ATOM) . While neither of these is a household name, both have very interesting growth prospects.
Chiliz is a crypto token that has taken off recently, thanks primarily to the rapidly expanding number of partnerships that Chiliz has signed with major sports teams around the world. Chiliz is often referred to as a sports fan token because when you buy Chiliz, you are then able to acquire digital tokens on the sports entertainment platform Socios.com, which is built on top of the Chiliz blockchain. It might sound complex, but it's actually seamless due to the way Socios.com has been integrated into websites and apps. Using sports fan tokens is one way teams can engage supporters and build new online communities.
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2 Cryptos That Are Still Soaring Right Now