As a crypto investor with a keen interest in fan tokens, I’m thrilled to witness the impressive surge of Argentina’s ARG token. The excitement surrounding the country’s advancement to the Copa America finals has significantly boosted the token’s market value.
Reaching the Copa America finals by Argentina has nearly caused a doubling of the market worth for their fan token, ARG.
In the past 24 hours, the value of that token’s price has risen by more than 65 percent, placing it as the second most valuable soccer coin based on market capitalization.
ARG Token Soars by Over 65%
Based on information from CoinGecko, the value of the ARG token has surged by approximately 98.8% in the last week, peaking at $2.34 – a price not seen since May 30th. Currently, the token is being bought and sold at $2.34, representing a substantial gain of 67.8%. This upward trend can be attributed to the heightened anticipation surrounding Argentina’s successful run in the Copa America tournament.
As an analyst, I’ve observed a significant surge in the value of ARG, the fan token for a popular Argentine football club. This growth has propelled ARG to become the most actively traded fan token in the current market. Intriguingly, the daily trading volume for this token has experienced a remarkable expansion, amounting to approximately $23.8 million – an increase of over 578.50% compared to previous levels. Notably, this figure is nearly fourfold greater than that of the Paris Saint-Germain fan token, which currently holds the title as the largest soccer fan token in terms of market value.
Despite this, it hasn’t yet surpassed the previous record of $32.4 million set before the 2022 Qatar World Cup, where Argentina emerged victorious and hit an all-time high of $9.1 for the token.
During Spain’s triumph over France in the European Championship on Tuesday, the value of the Spain National Football Team fan token (SNFT) surged by 10%. Consequently, the price of SNFT rose from $0.023 to $0.026.
In 2021, the Argentine Football Association introduced the ARG token via Socios.com, a fan engagement site powered by Chiliz blockchain technology. Chiliz.net acts as the main marketplace for trading tokens related to sports and entertainment, and it collaborates with both Chiliz ($CHZ) and Socios.com.
Owners of the ARG token are granted special privileges, such as participation in exclusive team events, unique experiences, and VIP treatment. Among these perks are the chance to mingle with the sports team’s athletes and tours of Estadio Monumental, an iconic football stadium located in Buenos Aires, Argentina.
Drake Loses $300k Bitcoin Bet
On Monday, Drake publicly announced on Instagram that he had wagered against Argentina’s football team. Prior to the game, the rapper put down a Bitcoin bet worth $300,000, anticipating a 2-1 victory for Canada over the World Cup champions.
Drake jokingly provoked Argentine fans by stating, “This one might just beat Messi.” If he had emerged victorious, Drake would have pocketed a substantial reward of 2,880,000 Bitcoins.
Not like us,
— Selección Argentina in English (@AFASeleccionEN) July 10, 2024
Drake’s wager against Argentina in the Copa America didn’t prove successful, resulting in Canada’s elimination. After Argentina’s triumph, their football association mocked Drake using a reference to Kendrick Lamar’s diss track “Not Like Us.”
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2024-07-11 21:44