Fan tokens soar and Santos cryptocurrency rises 41%
Fan tokens are on the rise in the crypto market, reaching a trading volume of US$1.2 billion in the last 24 hours. Among the highlights, the Santos FC token rose 41%, marking one of the biggest gains of the day.
These digital assets, created by teams and athletes in partnership with cryptocurrency platforms, allow fans to directly engage with their favorite clubs. This way, fans can participate in exclusive events and receive rewards.
The significant increase in the value of fan tokens occurred after a 330.36% increase in the trading volume of this sector, which currently has a market capitalization of US$323 million.
In addition to the Santos FC Fan Token (SANTOS), other coins also recorded significant gains, such as the OG Fan Token (OG), which rose 26.23%, and the tokens of Alpine F1 Team (ALPINE), SS Lazio (LAZIO) and FC Porto (PORTO), which also showed considerable increases in recent days.
Fan tokens resurface
According to data from CoinMarketCap, the SANTOS token has stood out for its rise in the market. The asset rose 4.11% in the last 24 hours, with an appreciation of 44.61% in the last week and 60.88% in the last 30 days.
With a trading volume that jumped 864.51%, reaching US$218 million, SANTOS reaffirms its importance in the universe of fan tokens. Even with this strong appreciation, the token's price is still 85.06% below its all-time high of US$28.60, reached in December 2021.
The OG token, associated with the esports organization OG, has also experienced a notable increase, rising 26.23% in 24 hours and 174% in the last month. With a trading volume of US$629 million, OG represents more than half of the total volume moved by fan tokens, standing out as one of the main assets in this segment.
In addition to SANTOS and OG, the Alpine F1 Team Fan Token (ALPINE) appreciated by 11.02%, while the Lazio (LAZIO) and FC Porto (PORTO) tokens registered increases of 20.36% and 17.57 %, respectively. This increase in value and trading volume demonstrates the growing interest in these digital assets, which offer fans an innovative way to interact with their favorite teams and competitions.
Other tokens from renowned clubs also followed this upward trend. The Paris Saint-Germain Fan Token (PSG) rose 2.92%, with its trading volume increasing by more than 500% in the last 24 hours.
The FC Barcelona Fan Token (BAR) also appreciated by 3.52%, while the Manchester City Fan Token (CITY), the Roma Fan Token (ASR), the Arsenal Fan Token (AFC) and the AC Milan Fan Token ( ACM) also showed positive performances in the crypto market.