$ALPINE F1 Fan Token Price Cools Amid Sale Rumours as Volume Remains High

The valuation of the Alpine F1 Team Fan Token ($ALPINE) took a dip this week, as per price data from Socios.com, as rumours circulated that Renault might sell its stake in the Alpine project.

The departure of Alpine F1 team boss Bruno Famin added fuel to the fire surrounding Renault’s potential withdrawal from top-level motorsport.

Despite the rumours, the $ALPINE token still accrued the most trade volume in the Fan Token market on Friday, March 20.

Elsewhere in the world of Formula 1, both the Aston Martin Cognizant Fan Token ($AM) and the Alfa Romeo Racing ORLEN Fan Token ($SAUBER) recorded modest gains over the course of the past week.

Why $ALPINE Dipped

In the past 24 hours leading up to March 20, the Formula 1 news channels were ablaze with talk of Renault’s potential withdrawal from top-level motorsport.

Renault is the majority owner of the Alpine F1 team, and the departure of Bruno Famin as the company’s Vice-President of Motorsport added fuel to the rumours that Renault might be winding down its association with motor racing.

In the past 24 hours the valuation of the Alpine F1 Team Fan Token ($ALPINE) dropped by 2.7%. 

Since March 15’s weekly peak of $0.464, the $ALPINE price has ultimately sunk by 10.7% across the past five days, dropping to the current price of $0.414.

Despite the apparent uncertainty surrounding the future of the Alpine F1 team, trade volume for the $ALPINE token was still very much elevated on March 20. 

$ALPINE recorded the highest trade volume throughout the Fan Token market on the day, reaching heights of $6.1 million.

How Other F1 Tokens Performed

Other Formula 1 Fan Tokens registered modest movements this week. The Alfa Romeo Racing ORLEN Fan Token ($SAUBER) gained 3.1% over the course of the past seven days, and trade volume for $SAUBER hit a weekly peak of $1.1 million on March 19.

Elsewhere, the Aston Martin Cognizant Fan Token ($AM) gained 3.1% in the 24 hour period as of March 20. The token’s growth for the past week stands at 4.8%.

Notably, both $AM and $SAUBER were subject to influxes of trade volume on March 19, as the Alpine news began to circulate.

Greg Thomson: Fan Tokens Market Reporter