Crystal Palace Fan Token ($CPFC) Up 8% Ahead of First European Expedition in 30 Years
The Crystal Palace Fan Token ($CPFC) has gained 8% in value ahead of the club’s upcoming European Conference League qualifier against Norwegian club Frederikstad.
Palace are already 1-0 up after winning the away leg of their tie in Norway, and the odds favour the London club progressing to the league phase of the Euro Conference League.
This season’s foray into Europe represents Palace’s first time in continental competition in twenty-seven years. However, their last game in Europe came in the much-maligned Intertoto Cup in 1998, which was a pre-season “cup for the cupless” that gave clubs a back door into Europe when they didn’t qualify through their league position.
Palace won’t have fond memories of their Intertoto Cup experience as they lost 4-0 across two legs to Turkish club Samsunspor ($SAM) – which, notably, is one of many Turkish football Fan Tokens that have experienced strong growth in previous weeks following Chiliz’ partnership with Turkish cryptocurrency exchange, Paribu.
Crystal Palace ($CPFC) Gains 8% Ahead of Euro Tie
The Crystal Palace Fan Token ($CPFC) gained 8.1% in the 48 hours leading up to Wednesday, Aug. 27, as the token climbed from a value of $0.037 up to $0.04.
Perhaps more notably, the $CPFC token has been on an upward trend for much of the past month, gaining 37% as it climbed from a low of $0.029.
This might be a sign of confidence among $CPFC holders that Crystal Palace’s European expedition this season will be a successful one. Or, at the very least, that the club will make it past Frederikstad and into the league phase of the European Conference League.
Yet Palace’s European trip this season hasn’t been as straight-forward as the club would like.
Crystal Palace’s Off-Field Euro Battle
Palace may feel hard done by after being demoted to the European Conference League from their original position in the Europa League, as punishment for breaching multi-club ownership rules, which you can read more about here.
Palace had appealed to the Court of Arbitration for Sport in an effort to be reinstated to the Europa League, however, their appeal was ultimately unsuccessful.
Still, Palace fans and $CPFC holders have reason for optimism ahead of their upcoming match against Frederikstad. Carrying a 1-0 away win into the home leg on Thursday, Aug. 28 gives Palace a great chance of making it into European competition for the first time in nearly thirty years.
Greg Thomson: Fan Tokens Market Reporter