Defending champions Argentina secured a spot in the finals of the prestigious Copa America soccer tournament, propelling the market value of the country’s fan token, ARG, to new heights. The Argentina Football Association’s cryptocurrency, ARG, saw a remarkable 107% increase in price, reaching $2.32 following the team’s impressive 2-0 victory over Canada. This surge marked the token’s highest value since May 30, with a staggering 70% surge in the past 24 hours alone. The market value of ARG soared to $27.85 million, making it the second-highest valued soccer fan token, although it fell short of the record $32.4 million peak achieved before the 2022 Qatar World Cup, which Argentina also won. ARG token stands out as the most actively traded among soccer tokens, boasting a 24-hour trading volume of $23.57 million, nearly four times higher than the Paris Saint-Germain fan token, the largest soccer token by market value. The ARG-Turkish lira (ARG/TRY) pairing on the centralized exchange Paribu dominated the trading landscape, accounting for a substantial 88% of the total volume in the past 24 hours. In contrast, the ARG-chiliz token (ARG/CHZ) pair on Chiliz.net only contributed a mere 0.17% of the global activity. Chiliz.net serves as the trading platform for all sports and entertainment tokens affiliated with Chiliz ($CHZ) and Socios.com. The Argentine Football Association collaborated with Socios.com, a fan-engagement platform powered by the Chiliz blockchain, to introduce the ARG token in 2021. Token holders not only gain financial value but also access to exclusive team activities, experiences, and VIP services, such as meeting players and visiting the iconic Estadio Monumental in Buenos Aires, Argentina. Fan tokens represent the harmonious blend of blockchain technology and sports, enabling enthusiasts to participate in and assess the financial and economic implications of major sporting events through a novel and engaging platform.
Copa America Fan Token Surge: Argentina’s Success Boosts Market Value
16/07/2024
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The surge in Copa America Fan Tokens is driven by the success of Argentina, leading to a notable increase in market value. Keep yourself informed about the most recent trends and advancements in the sports token market.