In anticipation of the first leg of last night’s UCL knockout round playoff between Galatasaray and Juventus, trade volumes for both clubs’ tokens soared as SportFi speculators piled in. In the aftermath of Galatasaray’s thrilling 5-2 victory, the value of $GAL rose while $JUV fell.

Here’s a closer look at how the market action unfolded.

How UCL Hype Sent $GAL Volumes Through the Roof

As matchday began (Feb. 17), the Galatasaray Fan Token ($GAL) was priced at $1.43 while 24hr volume stood at $373,891, per socios.com data. Throughout the day, value and volume climbed as hype for the Juventus match began to build.

Although Juventus were narrow betting favourites to beat Galatasaray in Istanbul, by the time the game kicked off $GAL had climbed to $1.48 (+3.5%) while volumes had risen to $1.48 million (+274%).

At full-time, with Galatasaray having overcome a 1-2 half-time deficit to claim a memorable 5-2 win, volumes had exceeded $3 million, and by midnight $GAL stood at $1.52, delivering intraday gains of 6.2%.

The Galatasaray Fan Token is up 25.4% over the last month, a period in which the Turkish champions have lost just once, a 2-0 defeat to Manchester City in the UCL group phase on Jan. 28.

Can Juventus Bounce Back After Horror UCL Defeat?

Juventus supporters and Fan Token traders will be asking themselves this question, with the latter perhaps contemplating a re-buy opportunity following an inevitable post-match slump.

Matchday was a wild one for the Juventus Fan Token ($JUV), its value rising from $0.657 to $0.690 (+5%) prematch and trade volumes exploding to $8.3 million afterwards, a jump of 480% from earlier in the day.

Naturally, $JUV lost value in the wake of the defeat, which has left their UCL campaign in jeopardy: the Fan Token has fallen from yesterday’s peak of $0.690 to $0.631, a steep drop of 8.5%.

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Clearly, Galatasaray are in pole position to progress to the UCL last-16 ahead of the return leg in Turin next week (Feb. 25). Before that, Juventus could climb from fifth to fourth in Serie A with a home win over Como this Saturday (Feb. 21).

The next seven days will be huge for Juventus, who need to be at their free-scoring best to turn the Galatasaray tie around. This outcome isn’t out of the question: over the last six weeks they have beaten Parma 4-1, Napoli 3-0, and Cremonese 5-0.

As for Galatasaray, securing passage to the UCL last 16 would make them the first Turkish club to make this stage of the tournament since 2014, perhaps setting the scene for further $GAL gains.