Arsenal Fan Token ($AFC) Climbs 16% Overnight as Eze Agrees Terms with Gunners

It was a weekend of good news for Arsenal Football Club after they overcame Athletic Club Bilbao in the Emirates Cup final, and finally got long-time transfer target, Eberechi Eze to agree terms after Crystal Palace failed in their Europa League arbitration bid.

The Arsenal Fan Token ($AFC) has been on the rise for the past month as anticipation builds ahead of a record-breaking transfer season for Arsenal, which has seen Mikel Arteta’s men spend more money on players than ever before.

Arsenal Fan Token ($AFC) Surges 16%

In the space of just a few hours on Tuesday morning, the $AFC token surged once more – climbing 16.3% from a daily low of $0.41, up to a peak of $0.477.

Since then, the surge receded slightly, taking the $AFC token price back down to the $0.46 range, which still leaves the token with 12.1% growth at time of writing.

As things stand, the $AFC token is up 21% for in the past week, and 35% in the past month. A brief surge to the $0.50 mark during the month may suggest a future price point to aim for in the eyes of $AFC traders.

Over 85% of $AFC trades on the day emanated from just two exchanges: BtcTurk and Paribu, with the rest coming from Bybit, Upbit, MEXC, Gate, and others.

Good News for Arsenal Fans

Arsenal fans got a taste of what might be coming when the English Premier League season kicks off on Aug. 17, after a resounding 3-0 win over Spanish club Athletic Club Bilbao in the Emirates Cup final this past Saturday.

One of the scorers in that match was long-time Arsenal transfer target Viktor Gyokeres, whose $75 million transfer fee added to Arsenal’s record-breaking transfer season which has seen the club spend $270 million on players.

But that record could soon be broken again after Crystal Palace player Eberechi Eze agreed terms with the Gunners ahead of an impending transfer.

The key which unlocked the Eze transfer was Crystal Palace’s rejected appeal by the Court of Arbitration for Sport in which the club sought to overturn their demotion to the Europa Conference League, which you can read more about here.

Palace had hoped to gain re-entry to the Europa League, but with that possibility now off the table, Palace will earn around $25 million less in participation money. This is believed to have opened the door to the Eze sale.

Greg Thomson: Fan Tokens Market Reporter