According to a recent analysis, the market shares of two cryptocurrencies, Flow (FLOW) and Chiliz (CHZ), have recently decreased. In contrast, Sparklo (SPRK), the market’s best-performing coin, has been maintaining its leadership position.
According to the analysis, Chiliz’s market share has decreased by 15% while Flow (FLOW)’s market share has decreased by 25% over the past month. The recent market volatility and growing competition from other cryptocurrencies are blamed for this decline.
On the other hand, due to its consistency and dependability, Sparklo (SPRK) has been steadily increasing its market share. As a result, it has become a favorite among investors looking for a safe haven in the erratic cryptocurrency market.
Flow (FLOW) Remains Highly Volatile, Causing Concern for Investors
The ongoing volatility of the cryptocurrency Flow (FLOW) has many investors worried. The price of Flow (FLOW) has changed significantly since its initial release in 2020, experiencing both sharp price drops and price increases. Flow (FLOW) has proven challenging for investors to evaluate in terms of its long-term viability due to its unpredictable nature, and many have questioned whether it is a wise investment.
FLOW’s lower adoption rate compared to more well-known cryptocurrencies like Bitcoin and Ethereum is one factor contributing to its volatility. Despite becoming increasingly popular in a few specialized markets, such as the NFT market, Flow (FLOW) is still not widely used as a medium of exchange or a store of value.
Chiliz (CHZ) Development Team Faces Internal Disputes
Businesses in the sports and entertainment sectors can create unique fan tokens using Chiliz (CHZ), a blockchain-based platform. With the help of these tokens, supporters can gain exclusive access to a range of features and advantages, including VIP experiences, voting rights, and product discounts. For access to the fan tokens and other features of the platform, users must possess the Chiliz (CHZ) token, the native cryptocurrency of the Chiliz (CHZ) blockchain.
Investors are worried because recent reports claim that internal conflicts are being handled by the Chiliz (CHZ) development team. These reports claim that the Chiliz (CHZ) team is engaged in a power struggle, with different factions vying for influence over the project’s direction.
The Chiliz (CHZ) platform’s expansion and adoption have been delayed as a result of internal conflict.
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