after the victory, the course of Argentina’s token is turned off

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

Play and collect cards in NFT format

1 free card for 5 purchased with our link

toaster icon

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

Advance the world of cryptocurrencies with Cryptoast experts 📘

toaster icon

Source: Trading View

Newsletter 🍞

Receive a roundup of crypto news every Monday via email 👌

What you need to know about affiliate links. This page presents assets, products or services related to investments. Some links in this article are affiliate. This means that if you buy a product or register on a website from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investing in cryptocurrencies is risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damages or losses caused after the use of any product or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial means. This article does not constitute investment advice.

AMF recommendations. High returns are not guaranteed, a product with high return potential entails high risk. This risk-taking must be in line with your project, your investment horizon and your possibility of losing part of this savings. Do not invest if you are not prepared to lose all or part of your capital.

To continue, please read our financial situation, media transparency and legal notices pages.

Leave a Comment