Santos Fan Token ($SANTOS) Climbs 49% as Club Climbs Out of Relegation Zone
The on-field fortunes of Santos FC appear to have been closely mirrored by the fortunes of the Santos FC Fan Token (SANTOS), after a string of good results coincided with the 49% increase to the value of the SANTOS token.
$SANTOS Rises in Line with On-Field Wins
Prior to Santos’ game against Juventude on Aug. 5, the team was perched precariously in the relegation places, and had only recorded 2 wins out of 16 games in a season marred by controversy.
On the exact same date, the $SANTOS token was priced near a monthly low of $2.12.
What happened next was Neymar helped put the controversy of challenging a fan to a fight behind him and score two goals in a 3-1 win against Juventude.
A week later, on Aug. 10, Santos played Cruzeiro in a match they were widely expected to lose, but surprised everybody with a 2-1 win away from home, and climbed out of the relegation zone into 14th position.
By the time the match was finished, the $SANTOS token peaked at a valuation of $3.19 after a week in which it gained over 49%.
In a climb which precisely mirrored the team’s on-field performances, the $SANTOS token rose from a spot price of $2.12 to a peak of $3.19, before pulling back to the $2.78 range at time of writing.
That still leaves the token holding on to 31% weekly growth, and is a strong indicator that on-field performance is having a marked impact on the value of the $SANTOS fan token.
Will $SANTOS Rise Continue?
With Santos’ next game set to be against relegation strugglers CR Vasco Da Gama on Aug. 17 – a match they will now be expected to win – it may be worth keeping an eye on the $SANTOS token in case this miraculous run continues.
Brazilian fan tokens have a recent history of mirroring the performances of their teams’ on-field performances.
Earlier last month the $SANTOS token jumped 15% in response to Neymar’s surprise winner against Flamengo. Meanwhile, Brazilian clubs’ strong performances in the Club World Cup resulted in an increase to the value of several of the clubs involved.
Greg Thomson: Fan Tokens Market Reporter