The Curious Case of the Token Surge
- It appears that Tether’s investment in Juventus FC has caused a most…unsettling phenomenon – a surge in the price of Juventus’ fan token (JUV) and other soccer club fan tokens. One can only assume the poor souls involved in this debacle have lost all sense of reason.
- The JUV token price, much like a runaway carriage, increased by over 200% initially, and is still up more than 120% in the last 24 hours. One shudders to think of the poor investors who have lost their shirts in this frenzy.
- Other soccer club fan tokens, including S.S Lazio (LAZIO) and FC Porto (PORTO), saw double-digit percentage gains, because, of course, they did. It’s not as if the poor dears had anything better to do with their money.
In a shocking turn of events, leading stablecoin issuer Tether announced earlier today that it has invested in Italian football club Juventus FC. Because, why not? It’s not as if the world of cryptocurrency wasn’t already a circus.
The price of Juventus Fan Token surged more than 200% before seeing a correction that brought the gain back to about 120% over the past 24 hours. One can only imagine the looks on the faces of the investors who thought they were getting in on the ground floor of something big.
The announcement moved the prices of several other fan tokens, with the S.S Lazio Fan token (LAZIO) jumping 11%. Similarly, the FC Porto fan token (PORTO) is up more than 10% for the day. One wonders if anyone involved in this debacle has a clue what they’re doing.
The Tottenham Hotspur fan token, the Paris Saint-Germain fan token, and the Napoli fan token — all tokens associated with European soccer clubs — are also among those posting gains following the news. Because, of course, they are. It’s not as if the world of cryptocurrency wasn’t already a joke.
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2025-02-14 19:28