SportFi Surges: Fan Tokens Outpace Crypto’s Top 50

While Bitcoin and the broader cryptocurrency market has been in an upswing since the start of August, it was the intersection of sports and crypto that stole the show on Aug. 8 as the Fan Token sector recorded more impressive daily gains than the CoinMarketCap Top 50.

Indeed, the average daily growth of +4.6% recorded by the top fifty cryptocurrencies by market cap was eclipsed by the gains found in leading SportFi assets, typified by the AS Roma Fan Token ($ASR), which climbed 75% in the past 24 hours.

Sports Fan Tokens Outpace Market Cap Top 50

The trend was consistent across major FanTokens, as the OG Fan Token ($OG) – the official fan token of the global esports brand – gained more than 41% on the same day.

The official Fan Token of Spanish giants Atletico Madrid Fan Token ($ATM) climbed 24% in value on the day, while the token’s daily trade volume rose from $2 million to just under $50 million as a flurry of $ATM tokens changed hands on exchanges like Binance, Upbit, and others. 

No sport was neglected during the upswing, with the Formula 1 Alpine F1 Team Fan Token ($ALPINE) gaining 19%, as daily trade volume rose from $1 million to nearly $8 million.

The fan token of footballing powerhouse AC Milan ($ACM) recorded healthy growth of 14%, as did the fan token of Santos FC ($SANTOS), while Juventus ($JUV) and Paris Saint Germain ($PSG) both recorded 10% growth, while the vast majority of Fan Tokens were in the green.

The Fan Token sector is expected to grow at an incredible 19.7% CAGR up to 2033, at which time it will be worth an estimated $7.86 billion, according to market analyst reports.

Greg Thomson: FanToken Market Reporter.