Fluminense 16% Spike Leads Brazilian Fan Token Surge for Libertadores Qualification
The valuation of the Fluminense FC Fan Token ($FLU) increased by 16.4% on Tuesday, Nov. 25, ahead of Friday’s clash with Sao Paulo.
Fluminense and Sao Paulo occupy 7th and 8th spot, respectively, in the Brasileiro Série A, and both teams are fighting to qualify for next season’s Copa Libertadores.
The Sao Paulo FC Fan Token ($SPFC) also saw a 5.4% uptick, as speculation builds ahead of Friday’s match.
Two other Brazilian tokens — the EC Bahia Fan Token ($BAHIA), and the SE Palmeiras Fan Token ($VERDAO), were also on the rise on Tuesday.
Bahia sit one point ahead of Fluminense and are also involved in the battle for Libertadores qualification.
Meanwhile, Palmeiras sit in 2nd place in the league, four points behind league-leaders Flamengo, and still have the opportunity to clinch the league title.
Fluminense ($FLU) Surges 16.4%
From a daily low of $0.023, the value of the Fluminense FC Fan Token ($FLU) increased to $0.027 — marking 16.4% gains over the course of 24 hours.
Trade volume increased by over 1,800% in that time, with the majority of the action occurring on Mercado Bitcoin.
Currently in 7th place — seven points ahead of upcoming opponents Sao Paulo — entry to the playoff stage of the Libertadores qualification campaign looks almost assured for Fluminense.
However, with three games still left to play, it is technically still possible for Sao Paulo to overtake Fluminense, so everything is still on the line ahead of their upcoming encounter.
Sao Paulo ($SPFC) Climbs 5.4%
The Sao Paulo FC Fan Token ($SPFC) underwent a 5.4% spike — climbing from a valuation of $0.027 up to $0.029.
The Gate and Mercado Bitcoin exchanges were the main venues for $SPFC trading action, which saw its volume peak as high as $15,000 in the past 72 hours.
Positioned in 8th in the league, Sao Paulo will essentially have to win all of their remaining three games if they hope to grab the final Libertadores qualification spot from the clutches of Fluminense — while hoping that their opponents lose the majority of their remaining matches.
If football has taught us anything, it’s that nothing is impossible, and this sentiment may explain the $SPFC’s uptick in the past 24 hours.
EC Bahia ($BAHIA) Gains 2.5%
The EC Bahia Fan Token ($BAHIA) started the day at a valuation of $0.0247, before climbing to the current price of $0.0253 — amounting to growth of 2.5% over 24 hours.
As seen in the chart above, the token price did spike even higher earlier on Tuesday morning, before leveling off as the day went on. Mercado Bitcoin is the sole venue for $BAHIA trading.
Bahia are currently 6th in the Brasileiro Série A — two points behind 5th placed Botafogo. Bahia play 19th placed Juventude this weekend — a match they are expected to win.
If Bahia can manage to overtake Botafogo in the league, they will secure instant qualification to the Copa Libertadores group stage, rather than having to go through a playoff match. But with Fluminense close behind them, Bahia will face stern competition in the remaining three matches.
Palmeiras ($VERDAO) Jumps 5%
The spot price of the SE Palmeiras Fan Token ($VERDAO) jumped 5% — climbing from $0.024 up to $0.0252, marking gains of 5% over 24 hours.
As seen above, the token price did spike even higher late on Monday night, before cooling off by Tuesday morning.
The price hike puts $VERDAO up 15.5% from its weekly low of $0.0218.
Unlike the previous three Fan Tokens, $VERDAO is embroiled in a battle for the Brasileiro Série A league title, and are also in the running for this season’s Copa Libertadores, being set to play Flamengo in the final on Nov. 29.
Palmeiras are currently four points behind league-leaders Flamengo. The team is still very much in the running to win the league, however, one win from their last five games will have dented their hopes somewhat.
Greg Thomson: Fan Tokens Market Reporter