Argentina Is Crowned World Cup Winner but ARG Token Dips 50%

UTC by Steve Muchoki · 3 min read
Argentina Is Crowned World Cup Winner but ARG Token Dips 50%
Photo: FIFA World Cup / Twitter

Argentina Fan Token $ARG has a market capitalization of approximately $9,882,374, with a total supply of 20,000,000.

The Argentina Football Association Fan Token (ARG) has dropped approximately 50 percent in the past 24 hours to trade at about $2.81 on Monday. The sharp decline coincided with the end of Qatar WorldCup 2022, which saw Argentina crowned as the football champion. Nonetheless, the ARG fan token has gained approximately 111.1 percent in the past year, whereas most digital assets are counting huge losses.

The resilience in fan tokens has significantly been bolstered by the just concluded Qatar 2022 World Cup. Furthermore, the football stage provides viewership to billions of fans worldwide. As such, trading volume on fan tokens and the leading infrastructure provider Chiliz (CHZ) significantly spiked in the past two months.

With the World Cup completed, trading volume on fan tokens and CHZ is expected to shrink in the coming months significantly. Consequently, market strategists think fan tokens may continue to fall during the first quarter of 2023.

Future of Fan Tokens after Argentina Narrowly Escaped France

The future of fan tokens is immense, considering FIFA has membership in 211 national associations. With global football leagues looking at blockchain tech and the cryptocurrency market to monetize their global fan base, Chiliz and the likes anticipate growing exponentially in the years ahead. Moreover, it is already a billion-dollar industry with financial backing from crucial crypto funds.

The ARG token decline is likely due to yesterday’s win, which many global enthusiasts think France should have won. Furthermore, the Paris Saint-Germain Fan Token (PSG) has not declined as much as ARG in the past 24 hours. Notably, PSG token – the football club that the French star Kylian Mbappé plays for – has dropped approximately 9.2 percent in the past 24 hours.

Despite a historic World Cup win, Argentina is ranked fourth by FIFA, after Brazil, Belgium, and France. As such, more countries are likely to adopt the tokenization industry like Argentina, to involve global fans at a personal level. Furthermore, the ARG token ecosystem has plans to venture into the NFT and metaverse industry.

According to data provided by Coingecko, Argentina Fan Token $ARG has a market capitalization of approximately $9,882,374, with a total supply of 20,000,000.

Nonetheless, the future of fan tokens remains under worldwide crypto regulations scrutiny. More so now, after the FTX and FTT collapse, that has left most with questions about crypto tokens.

Notably, countries are working together to regulate the cryptocurrency market, significantly threatening the traditional banking industry.

Meanwhile, crypto traders will continue speculating on fan tokens before adopting a mainstream utility.

Altcoin News, Blockchain News, Cryptocurrency news, News
Steve Muchoki
Author Steve Muchoki

Let’s talk crypto, Metaverse, NFTs, CeDeFi, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!

Related Articles