The fan tokens in the digital asset space achieved a trading volume of $1.2 billion followed by a massive 300% surge.
Fan tokens, the digital assets issued and managed by the sports teams, clubs, or players for their fans in partnership with crypto trading platforms, have risen a whopping 330.36% in the 24 hours and achieved a trading volume of $1.2 billion along with a 6.21% increase in market capitalization, which stands at $323 million.
As per the data from CoinMarketCap, the top performers in the fan tokens sector are Santos FC Fan Token (SANTOS), OG Fan Token (OG), Alpine F1 Team Fan Token (ALPINE), S.S. Lazio Fan Token (LAZIO), and FC Porto Fan Token (PORTO). On the other hand, tokens from a variety of teams across different sports were green as well.
SANTOS is trading at 4.11% and has surged 44.61% in the past week, followed by a 60.88% increase in the past 30 days. The trading volume of the fan token rose 864.51% to $218 million, and the digital asset is down 85.06% from its all-time high of $28.60 witnessed in December 2021.
Meanwhile, OG is up 26.23% in the past 24 hours to $7.71, surging a massive 26.23% in the past week and 174.00% in the past 30 days. However, the digital asset is up only 72.64% since October 2023. It is important to note that more than half of the total volume in the fan tokens sector comes from OG, whose trading volume stands at $629 million.
Further, ALPINE skyrocketed 11.02% to $1.41. LAZIO rose 20.36% to $1.65 and PORTO jumped 17.57% to $1.65. The trading volume of these altcoins also significantly rose in the past 24 hours, standing at $61.8 million, $92.2 million, and $48.3 million, respectively.
Other Fan Tokens also Surge
The fan tokens other than the ones mentioned above have also seen an increase in prices with Paris Saint-Germain Fan Token (PSG), the second-largest altcoin in the fan tokens sector, surging 2.92% while its trading volume surged more than 500% in the past 24 hours.
FC Barcelona Fan Token (BAR) also rose 3.52% to $1.75, following a 316% rise in its trading volume, which stands at $12.4 million. BAR is down 0.57% in the past seven days but is up 4.20% in the last 30 days.
Manchester City Fan Token (CITY) is up 3.33%, Roma Fan Token (ASR) rose 2.57%, Arsenal Fan Token jumped 1.62%, while AC Milan Fan Token (ACM) skyrocketed 4.46% as the broader sector also performed well.
Fan tokens are a vital part of the digital asset sector and allow fans to gain exposure to their favorite teams and players and get rewarded for participating in events and festivals as well. There are prizes and even physical meet-and-greet for the holders of these tokens.
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