Soccer Fan Tokens Drown as Group Stage of FIFA World Cup Nears Culmination

Football Fan Tokens Drown As Group Stage Of FIFA World Cup Nears Culmination

As the final match day of the group stage in Qatar is ready to kick off this Friday afternoon, the most popular national soccer team fan tokens are still on a strong bearish trend. To illustrate, Spain’s surprise loss to Japan yesterday didn’t stop them from advancing to the playoffs. However, Spain National Football Team Fan Token (SNFT) took a beating, as it’s down by 25.7% since the final whistle.

Brazil & Portugal Face Deficit on Match Day

As soccer fans are waiting for the evening competition between Brazil and Cameroon, the guaranteed playoff spot for Brazil doesn’t reflect the Brazilian national team’s token price. At press time, Brazil National Football Team Fan Token (BFT) is priced at $0.189748, according to CoinGecko. Marking an eye-watering 20.7% deficit over the last 24 hours, Brazil’s national crypto is sobbing with 64.4% in the red since last week.

On the other hand, Portugal is getting ready to take on South Korea and, like Brazil, has also guaranteed themselves a playoff spot. However, Portugal National Team Fan Token (POR) is already down by 6.1% in the last 24 hours. To add, the Portuguese team’s crypto is suffering a 33% weekly shortfall and is a whopping 48% in the red since the start of the World Cup. At press time, POR trades at $2.94, according to CoinGecko.

On the Flipside

  • In spite of the strong bearish trend in soccer fan tokens, more crypto platforms are listing soccer-related crypto.
  • For instance, Poloniex, one of the oldest crypto exchanges, announced the addition of Spain, Brazil, and Peru national team tokens starting 5th December.

Why You Should Care

According to a recent survey by KuCoin, 70% of crypto enthusiasts are following the FIFA World Cup. Besides, half of them are investing in soccer-related tokens.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimasevskis is an author & reporter, focusing on the latest tendencies of the crypto galaxy. Tadas spends his time digging deeper into specific areas like coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art, and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.