The AC Milan Fan Token (ACM) has been caught in the broader crypto market downturn, shedding 15% of its value over the past week.

At the time of writing, ACM is trading at $0.8185, reflecting a 7.03% decline in the last 24 hours and an 18.17% drop over the past seven days. This decline has brought ACM’s market capitalization down to $5,980,540, with a circulating supply of 7.3 million tokens.

Market Trends and Trading Activity

The crypto market is currently experiencing a downturn, with major tokens facing declining pressures. ACM has also seen a recent sell-off. Despite the declining price of ACM, the token’s trading volume has increased with the past 24 hours registering a 10.60% increase to $2,031,060.

Even with the price falling, market activity is increasing. Binance is still ACM’s most active trading platform where the pair ACM/USDT has recorded a daily trading volume of $606,223.

The price action in ACM aligns with the volatility seen across the broader crypto market, as traders and investors react to external economic pressures. The price data reveals that ACM initially traded near $0.90 before experiencing a sharp decline, briefly stabilizing around the $0.85 range before continuing its downward trajectory.

Multiple attempts to reclaim lost ground were met with resistance, suggesting a bearish sentiment prevailing in the market.

Fan Tokens are redefining fan interaction in the world of sports. With over 2 million wallets, they are the largest digital asset class in sports, and as such they have transformed the way fans connect with their favorite teams.

Through Socios.com, fans can interact with more than 70 teams, among which are Manchester City ($CITY), FC Barcelona ($BARCA), and Paris Saint-Germain ($PSG). Using Fan Tokens, fans can participate in team decisions, earn rewards, and more.

Anyone can trade Fan Tokens on Kayen, a Fan Tokens-dedicated exchange, and many other exchanges. And the ecosystem is growing: Binance has created Fan Tokens for teams such as Lazio and Santos.