Fenerbahçe Token ($FB) Up 12% in Week as Turkish Title Race Heats Up

Although it’s been 11 years since Fenerbahçe won the Turkish Super Lig, momentum is building fast – for the token ($FB) as much as the team itself. Over the past week, the value of $FB rose by 12%, making it one of the best-performing Fan Tokens over the seven-day period.

In a now familiar story, the club is locked in a fierce title battle with fellow Istanbul club Galatasaray ($GAL), who have a one-point advantage at the table’s summit after a dozen games. In each of the last three seasons, Fenerbahçe has finished runners-up to Galatasaray.

Fenerbahçe Feelgood Factor as Token Jumps

Over the past week, the price of the Fenerbahçe Fan Token ($FB) token jumped from $0.33 to $0.37, a consequence of renewed belief that Galatasaray’s stranglehold on the title may be under jeopardy. Last Sunday November 9, the league frontrunners lost their first game of the season in a 1-0 defeat to mid-table Kocaelispor, while Fenerbahçe comfortably dispatched Kayserispor 4-2.

Turkish Super Lig action is set to resume this weekend, with Galatasaray at home to 14th-placed Gençlerbirliği and Fenerbahçe travelling to 10th-placed Rizespor. Both title contenders will be heavy favorites, though with just a point separating them, the pressure is certainly mounting. $FB and $GAL are top 12 Fan Tokens by market cap, with the former sitting fourth and the latter 11th.

While a 12% weekly price jump is impressive in itself, the value of the Fenerbahçe token has actually risen by 25% in the last month, buoyed by strong results on the field. In fact, the team hasn’t lost a game since suffering a 3-1 Europa League defeat to Dinamo Zagreb on September 24.

Interestingly, the $FB token has posted impressive gains as trade volume itself has fallen. While 24hr volume stood at $671k a month ago, it’s now around $508k.

Stars Aligning for Fenerbahçe?

Supporting the idea that the stars may be aligning for Fenerbahçe, Galatasaray’s talismanic striker Victor Osimhen had to be substituted due to a leg injury in Sunday’s African World Cup qualification play-off between Nigeria and DR Congo. 

Although the extent of the injury is unclear, a period on the sidelines for Osimhen would certainly bolster Fenerbahçe’s title chances – as would positive transfer business to reinforce the squad. 

Turkish media reported Fenerbahçe directors attended Sunday’s Italy vs Norway game to scout players from both nations.

Ronnie Mccluskey: Fan Tokens Market Reporter