The native cryptocurrency of the sports blockchain platform Chiliz, CHZ, has experienced a notable price surge after the Binance exchange announced its support for the PEPPER airdrop. This development has generated considerable excitement among CHZ holders, contributing to a 13% price increase that pushed Chiliz to $0.07227 and lifted its market capitalization above $650 million.
Binance Airdrop Support Drives Market Momentum
On Thursday, October 10, the first snapshot for the PEPPER airdrop is scheduled, followed by three additional snapshots later in the month. To participate and become eligible for receiving PEPPER tokens, users are required to hold a minimum of 100 CHZ across eligible wallets, including funding, spot, and margin accounts.
This announcement has triggered a wave of buying activity as investors seek to position themselves advantageously before the snapshots begin. Under the airdrop’s terms, Chiliz token holders will receive 1,000 PEPPER tokens for every 150 CHZ held. The snapshot process will take place between October 10 and October 31, 2024.
Eligible CHZ balances in certain account types will qualify, though borrowed assets are excluded. Distribution of PEPPER tokens will occur in batches following the completion of the snapshots. It is important to note that while the airdrop is underway, standard trading services—including spot and futures trading—will remain unaffected. Additionally, the potential listing of PEPPER on Binance remains subject to the platform’s standard review procedures; participation does not guarantee eventual listing approval.
Pepper is set to become the first meme coin launched on the Chiliz blockchain. While its specific purpose and utility are not yet fully defined, the token has been developed by the community with the stated aim of “taking control of the big picture.”
CHZ Breaks Through Key Resistance Level
Data from Coinglass indicates a significant 58.45% increase in open interest for CHZ, reaching $69.39 million. Similarly, the 24-hour liquidation volume surged by over $1.22 million, with short liquidations accounting for $621,000 of that total.
Since bouncing from the $0.043 level in August, Chiliz (CHZ) has demonstrated considerable strength, breaking through the $0.07 barrier. The token has also successfully converted the former resistance at $0.0715 into a new support level, forming a double-top chart pattern in the process.
Moreover, CHZ has broken above both the 50-day and 100-day exponential moving averages, signaling a strengthening bullish momentum. This technical posture suggests the token may be poised for further gains, with the next key level to watch sitting at $0.084, which represented the low on April 13.
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Frequently Asked Questions
What is the PEPPER airdrop?
The PEPPER airdrop is a token distribution event for holders of Chiliz (CHZ). Participants need to hold a minimum of 100 CHZ in supported wallets during scheduled snapshots to qualify for free PEPPER tokens.
How many PEPPER tokens will I receive per CHZ?
The airdrop distribution ratio is set at 1,000 PEPPER tokens for every 150 CHZ held in your account at the time of the snapshot.
Will trading my CHZ during the snapshot period affect eligibility?
Yes, your CHZ balance is recorded at the moment of each snapshot. Moving tokens out of your wallet before the snapshot may reduce or eliminate your eligibility for that round.
Is the PEPPER token already listed on Binance?
No, the future listing of PEPPER on Binance is not guaranteed. It must undergo the exchange’s standard review process before any decision is made.
What type of wallet do I need to hold CHZ for the airdrop?
You can hold CHZ in Binance funding, spot, or margin wallets. Be sure borrowed assets are excluded, as they do not count toward the minimum balance.
Can I participate if I hold less than 100 CHZ?
No, the minimum requirement to qualify for the airdrop is 100 CHZ held in an eligible wallet at the time of the snapshot.