Benfica Fan Token Gains 5.4% Ahead of Upcoming Porto Clash

The Benfica Fan Token ($BENFICA) gained 5.4% on Thursday, Oct. 2, just days before the team’s upcoming match against close rivals and league-leaders, FC Porto ($PORTO).

Benfica have yet to lose in the league under the stewardship of new manager Jose Mourinho, winning two and drawing one out of three games.

However, their opponents Porto have won seven out of seven matches so far, and currently sit atop the league table, three points ahead of second-place Sporting, and four points ahead of Benfica.

While still early in the season, the outcome of this match could set a marker for how the title proceeds going forward. 

Benfica Fan Token Gains 5.4%

Starting from a 24-hour low of $0.420, the spot price of the Benfica Fan Token ($BENFICA) climbed to a peak of $0.443 by Thursday morning, marking 5.4% growth for the day.

Trade volume remained steady around the $500,000 mark throughout the 24-hour period, marking a near ten-fold increase from $60,000 earlier in the week. 

The $BENFICA token saw a massive increase to trade volume soon after the appointment of new manager Jose Mourinho.

Mourinho Effect on Benfica

While there was speculation that the $BENFICA token might receive an immediate price boost from Mourinho’s appointment, today’s 5.4% increase is the first notable increase the token has seen since the new manager came in.

Both Porto and Benfica have yet to lose a league game this season, while the third team out of the potential trio of title contenders in Portugal – Sporting Lisbon – have lost once. 

The FC Porto Fan Token ($PORTO) was also on the rise on Thursday. The Fan Token gained 7% across the 24-hour period, while trade volume fluctuated between $7 million and $3.5 million. 

Greg Thomson: Fan Tokens Market Reporter