A “pump and dump” on the level of the World Cup? The price of the Argentine Football Association Fan Token (ARG) token had seen a nice increase at the end of the World Cup. But he turned the page completely off yesterday. What to remember?
Argentina token drops after World Cup win
We explained it to you at the beginning of the month, “fan tokens”, these cryptocurrencies based on fan communities – especially football – had until then struggled to convince in this World Cup in 2022. But Argentina’s progress in the competition had ended anyway advance the course of the Argentina Football Association Fan Token (ARG) at the end of the competition.
A high of $7.4 was thus reached two days before the last match, which did not reach an absolute record anyway. This had been exceeded in November to more than $9. Still, investors do not seem to bet on a continuation of the development of ARG.
The price has actually fallen very sharply since yesterday: it has lost -55% within an hour and a half :
ARG price reacts negatively to WC win
It is noted that the trend had been initiated in the days immediately preceding the match. The investors therefore thought enough that the price of ARG would not increasevictory or not.
👉 Also Read – Fan Tokens: Cryptocurrencies Designed for the Sports World
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Fan tokens, a bit worn by the World Cup?
So what to take away from all this? First of all, we note that VM was not the long-awaited cornucopia for token fans national football team. Looking at their respective progress over the month, the outlook is particularly clear:
- Argentina Fan Token (ARG) Loses -67% Over Thirty Days;
- Portugal’s (POR) lost -79%;
- Spain Fan Token (SNFT) loses -92%;
- And Brazil’s (BFT) fell -94% during the month.
The cryptocurrencies carried by fans therefore not only show great volatility, but they have been relatively little lift from the WC. It is therefore an area that probably still needs to mature.
👉 To move forward – Football, blockchain, cryptocurrencies and NFTs: love f(l)ou
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