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Arweave & Chiliz Partnerships Make Them Most Profitable Cryptos of Week

Sun, 11/06/2022 - 12:29
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Gamza Khanzadaev
Most profitable cryptocurrencies of week determined by Instagram & FIFA World Cup
Arweave & Chiliz Partnerships Make Them Most Profitable Cryptos of Week
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While Dogecoin (DOGE) ran the show last week with a trigger in the form of Elon Musk's purchase of Twitter, this week new narratives have identified new heroes. Thus, according to CoinMarketCap, the most profitable cryptocurrencies of the past week were Arweave (AR) and Chiliz (CHZ), not least because of their partnership agreements.

Arweave (AR) up 60% on Meta and Instagram Partnership, Here's What You Need to Know

Instagram Web3 infrastructure

The AR token from the Arweave project has risen by more than 50% since the week began after it was revealed that Instagram would integrate a protocol for storing NFT.

In its quest for leadership in the Web3 sector, Meta is undertaking a massive Instagram revolution, which requires the involvement of third-party crypto projects involved in infrastructure solutions. So the spike in AR quotations caused an earthquake in the prices of all cryptocurrencies related to the sector.

Source: CoinMarketCap

Crypto winter World Cup

CHZ became the top two cryptocurrency in terms of profitability, also up considerably, but by 42%. The surge in investor interest in CHZ was most likely due to the approach of the FIFA World Cup, which takes place this year in Qatar in winter.

Chiliz is the issuer of fan tokens for the national teams of Argentina and Portugal, which feature two of the most prominent soccer players of our time, Lionel Messi and Cristiano Ronaldo. Both tokens are traded on Binance, while the exchange itself is the main sponsor of the Argentine national team.

Source: CoinMarketCap

These Cryptocurrencies Pump on Eve of FIFA World Cup: Details

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.