Fenerbahçe Up 50% in Week Ahead of Top of Table Derby Against Galatasaray
Ahead of the upcoming top-of-the-table clash between Fenerbahçe and Galatasaray in the Turkish Super Lig, both Fan Token teams involved have been subject to considerable trading activity in the past week.
The Fenerbahçe Fan Token ($FB) and the Galatasaray Fan Token ($GAL) both registered growth across the past seven days, coinciding with major increases to trade volume.
With just one point separating both teams – and with top spot on the line – the extent of the growth registered by each token may also tell a story about how traders are anticipating the big match to play out.
Fenerbahçe Fan Token ($FB) Gains 50% in Four Days
A little over four days ago, the Fenerbahçe Fan Token ($FB) was priced at $0.365. By time of writing on Nov. 27, the value of the token had risen to $0.55 – amounting to growth of 50%.
The $FB token price actually spiked as high as $0.61 on the same day, which would have amounted to 61% growth before the pullback.
Still, the $FB token price has undergone a major surge in the past few days, fuelled by a huge influx of trade volume which rose from $1.67 million to $11.6 million in that time.
Remarkably, the $FB token price has been on an upward trend for the majority of the past month. From a monthly low of $0.29, the token’s spot price has risen 110% in just under 30 days.
The recent price surge now puts the token far above its quarterly high of $0.43, and is now not far away from a one-year high of $0.68.
The token’s rise may have been helped by the team’s strong form in the Turkish league this season. Despite sitting in 2nd-place, one point behind Galatasaray, the team is unbeaten in 14 matches stretching all the way back to the end of last season.
Galatasaray Fan Token ($GAL) Climbs 7% in Week
Starting from a weekly low of $1.12, the spot price of the Galatasaray Fan Token ($GAL) rose to $1.22 by day of publication, before falling back to $1.20. That leaves the token on 7.1% growth over seven days.
During the week the token’s trade volume rose from $250,000 to over $1.3 million – the highest it has peaked in over a month.
Galatasaray were on a 15-match unbeaten run in the league that stretched back to last March before they lost their first game of the season two weeks ago.
Build Up to the Intercontinental Derby
The upcoming match is known as the Intercontinental Derby (Kıtalararası Derbi) because both clubs technically occupy different continents within the same city of Istanbul – Fenerbahçe on the Asian side and Galatasaray on the European side.
The surging Fenerbahçe token price in the past week may be suggestive of the expectation that traders expect the team to win the big match on Dec. 1.
However, given that the Galatasaray token is already priced higher than $FB, that may not necessarily be the case.
With just a point separating the teams in the run up to one of the most fiery derbies in world football, one thing we can be sure of is an interesting game.
Greg Thomson: Fan Tokens Market Reporter