$ACM Touches $1.10 Amidst Over 18% Price Surge
The price of the AC Milan Fan Token ($ACM) increased substantially over the previous day, reaching $1.10 at its peak. Currently, it is worth $0.9962, showing an appreciation of 8.77% over the day and 8.83% over the week.
This price increase accompanies a sharp rise in volume which suggests that passion among investors is increasing.
Boosts in Price and Market Activity for ACM Shows Growing Investor Interest
ACM’s price surge corresponds with a sudden increase in the token’s trading volume which rose by more than 1,672% to $37.39 million over the last day. The spike in ACM price exceeding $1.10 before dropping suggests that investor excitement is indeed increasing, with great volatility across markets resulting in so many investors participating in the market at once.
With an approximate marketcap of 7.29 million, ACM currently has a circulating supply of 7.3 million tokens. Despite ACM inching closer to retracing from its peak, strong price level support combined with great buyer demand shows ACM token holders are still investing heavily into the token’s price.
Will ACM Sustain Its Momentum?
Even though the sharp increase in ACM’s price is striking, the question remains whether ACM can continue to build on this momentum.
In the past, tokens associated with particular enthusiasts tended to have short-lived price increases due to stirring hype surrounding events, after which the prices normalized. Nonetheless, if the trading volume sustains at elevated levels and new buyers persist to enter the market, periphery on ACM is possible.
Investors should monitor resistance levels of approximately $1.10 and $1.15, with support likely around $0.95. ACM has had impressive gains over the last few bullish days and any additional sustained positivity towards the broader crypto market would help propel this price further in the next few days.
Since their creation by Chiliz, Fan Tokens have changed the sports world. With more than million wallets holding fan tokens, they’ve become the largest digital asset class in sports.
Over 70 teams now offer Fan Tokens, including Manchester City ($CITY), FC Barcelona ($BAR), and Paris Saint-Germain ($PSG). Through Fan Tokens, fan can connect with their favorite teams in new ways.
For instance, fans can vote on team decisions on Socios.com. They can also earn prizes and take part in other engaging activities. This brings fans closer than ever to their teams!
Major exchanges already list Fan Tokens. They can also be traded on Kayen, a decentralized exchange specifically made for Fan Tokens.
Other big blockchain players such as Binance have joined the Fan Tokens ecosystem. Teams like Lazio and Santos now have Fan Tokens, allowing them to reach more fans.