Fan Tokens Record Steady Daily Gains Across Exchanges Amid Market Turbulence
The Fan Token market reported remarkable intraday gains with many tokens trading in the green zone despite a significant downturn in the global cryptocurrency market. $PSG, $BAR, $JUV, $CITY, and $SPURS are among the Fan Tokens that staged the rebound.
This market recovery has left investors and token holders beaming with excitement as they look forward to a week of potential increase in trading activity among these Fan Tokens.
The event aligns with the recent surge in the global crypto market with BTC and major Altcoins including ETH, XRP, BNB etc, all posting green today.
Top Fan Tokens Bounce Back as Market Shows Signs of Recovery
The last couple of weeks have seen a drastic decline in trading activity, particularly with the increasing drop in the global Fan Token market cap, which has fallen from above $300 million to $286 million. However, top Fan Tokens, among others, have all recorded significant gains in the past 24 hours. Below is a rundown of the top five Fan Tokens and their current price action at the time of writing:
$PSG – 5.24% increase
Following days of decreased trading activity, $PSG has finally given fans and token holders something to be excited about as the token recovered with an impressive 5.24% increase to trade around $1.25. Trading volume also surged remarkably by 82.70% to settle at $3,587,034, in the last 24 hours.
This positive momentum is partly as a result of the club’s recent run of form both in Ligue 1 and in the UEFA Champions League where they came from behind to beat FC Barcelona despite being short of their star players.
$BAR – 5.26% uptick
$BAR is up by 5.26% at $0.8553, following a weekly decline by 17% despite the club’s remarkable on-field performance since the start of the season. Trading volume has increased by 17% to $3,343,421, signalling increasing investors’ backing. With the club set to return to the league following the just concluded international break, fans and token holders will be looking forward to further increase in $BAR’s price.
$JUV – 4.4% Rebound
After reporting a 13% decline in the previous week, $JUV has staged a significant rebound by 4.4% to trade at $0.9432. Trading volume, however, showed a modest decrease of 0.9% at $4,994,360. $JUV’s circulating supply stands at 12 million, with a corresponding market capitalisation of $11,141,817.
$CITY – 4.4% Comeback
With a 20% decrease in the past month, it is not surprising to see investors and token holders increasing bullish about $CITY, as the token recovers by 4.4% to trade in the green zone today. This is particularly remarkable given that the club’s encouraging on-field performances have failed to have a positive impact on $CITY’s market sentiment.
The digital asset currently trades at $0.807 with a 28.80% surge in trading volume at $1,962,310. With a circulating supply of 12 Million CITY, Manchester City Fan Token is valued at a market cap of $9,414,926.
$SPURS – 6.4% Rebound
$SPURS’ 6.4% upswing following a monthly decline of 28.8% has given token holders and investors a breath of fresh air, with the token currently priced at $0.3191. Sadly, trading volume is still down by -48.70% at $211,639.
The circulating supply is 10 Million, while the Fan Token is valued at a market cap of $3,271,564. With the return of the English Premier League this week, fans will be looking forward to an encouraging on-field performance from the club with hope that it could further boost the token’s performance in the market.
The recent rebound across major Fan Tokens like $PSG, $BAR, $JUV, $CITY, and $SPURS signals renewed investor confidence amidst recent crypto market volatility. While overall market capitalization remains below previous highs, the steady daily gains suggest that momentum is gradually shifting in favour of buyers.
With top football leagues returning to full swing and global crypto sentiment improving, Fan Tokens are likely to continue benefiting from increased trading activity and fan engagement in the coming weeks. However, sustained growth will depend on consistent on-field performances and broader market stability across the crypto space.
Fantoken Market Reporter