How Spain vs Portugal World Cup Clash Played Out On-Chain

Spain eliminated Portugal from the World Cup and ended Cristiano Ronaldo’s hopes of finally laying his hands on the World Cup.

Spain repeated their feat from the 2010 World Cup, when they beat Portugal – also by one goal – in the round-of-16. Ronaldo featured in both games.

The Spain vs Portugal clash in Texas inspired heightened interest from SportFi traders, who piled into the $SPAIN and $POR Fan Tokens™ before and during the game. 

Let’s take a look at what happened on-pitch and on-chain.

Spain KO Portugal and Trigger 2.5% Token Burn

Spain won the game 1-0 courtesy of an injury-time goal from super sub Mikel Merino, triggering a burn of 2.5% of $SPAIN Fan Token™ reserves.

Priced at $0.549 a few hours before kickoff, the spot price of $SPAIN climbed to $0.590 (+7.6%) after the full-time whistle, although it has since dropped to $0.567.

$SPAIN trade volumes also climbed from $102,284 to $336,497 (+229%) on matchday.

Spain’s strong tournament form (4W, 1D) has triggered four token burns so far, including two 1% burns in the group stage, a 2% burn in the round-of-32, and a 2.5% burn in the last-16.

Over 1.5M $SPAIN tokens have been destroyed, reducing the treasury balance from 24.95M to 23.27M. Portugal’s wins over Uzbekistan and Croatia, meanwhile, reduced the $POR treasury balance from 6.97M to 6.76M.

Those trading the nations’ Fan Tokens™ included participants in a livestream trading battle on Vibe.trading, which was won by AndySlaps. You can watch the $POR vs $SPAIN trading battle here.

Another Fan Token™ Face-Off in Quarters for Spain

Luis de la Fuente’s men can now look forward to a quarterfinal against Belgium, who hammered co-hosts USA 4-1.

Portugal became the third Fan Token™ nation to exit the World Cup, following eliminations for South Africa ($SAFA) in the round-of-32 and Scotland ($SFA) in the group stage.

Three now remain – holders Argentina ($ARG), Belgium ($BELG) and Spain, with the latter two set to meet this Friday (July 10) in Los Angeles.

Belgium’s emphatic victory over the United States in the last-16 helped the Belgium Fan Token’s™ value spike 10%.

After eliminating Portugal in the 2010 World Cup, Spain went on to win the tournament. Could that be a good omen ahead of their collision with Belgium this week?

Ronnie McCluskey: Fan Tokens™ Market Reporter