1/ In the lead-up to the #FIFAWorldCup, football fan tokens saw major price jumps of up to 47%. But how did they perform during the tournament?
A short thread on our findings & insights 🧵
A short thread on our findings & insights 🧵
2/ National Teams’ Football Fan Tokens rallied as high as 47%, in anticipation of the #FIFAWorldCup 📈
Major football fan tokens representing Argentina (#ARG), Portugal (#POR), Brazil (#BFT), and Spain (#SNFT) saw significant price increases.
Major football fan tokens representing Argentina (#ARG), Portugal (#POR), Brazil (#BFT), and Spain (#SNFT) saw significant price increases.
Between Nov. 1 and just before the opening matches of the World Cup on Nov. 21, $ARG jumped the highest at 47%, followed closely by the $POR at 45%. $SNFT saw a 11% rise, and $BFT experienced a 4% gain.
3/ Wins and defeats in the World Cup directly affected fan token price performance 🥅
• This year's #FIFAWorldCup was full of surprises, and the results had a big impact on fan token performance.
• Argentina's 1-2 loss to Saudi Arabia resulted in a 24% drop in $ARG token.
• This year's #FIFAWorldCup was full of surprises, and the results had a big impact on fan token performance.
• Argentina's 1-2 loss to Saudi Arabia resulted in a 24% drop in $ARG token.
https://twitter.com/coingecko/status/1595087543292538882
During the Quarter-Finals, Brazil's elimination by Croatia led to a 53% drop in $BFT.
And when Portugal was unexpectedly defeated by Morocco, $POR token slumped 20%.
And when Portugal was unexpectedly defeated by Morocco, $POR token slumped 20%.
https://twitter.com/coingecko/status/1601274437122158593
Spain's upsets against Japan and Morocco resulted in their elimination in the Round of 16.
$SNFT token fell 17% after Spain's match against Japan, and a further 39% after losing to Morocco.
$SNFT token fell 17% after Spain's match against Japan, and a further 39% after losing to Morocco.
https://twitter.com/coingecko/status/1600195273640189953
4/ $ARG climbed 23% in the lead-up to the World Cup Finals, and tumbled 47% as soon as the nation was declared the champion 🏆
This trend is somewhat expected, as #crypto holders likely sold $ARG, following the ‘buy the rumor, sell the news’ behavior.
This trend is somewhat expected, as #crypto holders likely sold $ARG, following the ‘buy the rumor, sell the news’ behavior.
https://twitter.com/coingecko/status/1604727155488800773
5/ Football Fan Tokens used as a proxy to betting 🎰
National football team tokens saw wild price swings based on wins and losses. This may be due to low liquidity on exchanges that support their trading, where trades as small as $1K USD can cause significant price changes.
National football team tokens saw wild price swings based on wins and losses. This may be due to low liquidity on exchanges that support their trading, where trades as small as $1K USD can cause significant price changes.
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What breakdowns would you like to see in the future? Let us know 👇
What breakdowns would you like to see in the future? Let us know 👇
https://twitter.com/coingecko/status/1605530688320479232
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