The Manchester City Fan Token spiked 14% early on Sept. 4 as $15 million in trade volume was recorded in the space of mere hours.

Man City Fan Token Spikes 14%

From the token’s starting price of $1.00 early on Thursday morning, the Man City Fan Token ($CITY) climbed to $1.14 in just under two hours.

The token’s rise was accompanied by an influx of $15 million in trade volume – a 400% increase on the previous 24 hours’ volume.

By time of writing the $CITY token had fallen back to the $1.05 – $1.06 price range.

This is the second major price spike in the space of a week for the $CITY token. On Aug. 29 a 24% price hike was accompanied by an influx of over $50 million in trade volume.

While the token failed to hold on to its gains earlier in the week, the $CITY token has been on an upward trajectory since June, when it was priced at $0.80 – marking a 25% increase in just over two months.

Will Donnarumma Signing Affect City’s Style?

City brought 26-year old goalkeeper Gianluigi Donnarumma in from PSG just as the transfer window closed on Sept. 2 – for a fee of around $35 million.

Former City No.1 Ederson left for Galatasaray at the same time for around $13 million.

Statistics on FBref show the difference in play-style between the two goalkeepers, with Ederson contributing more defensive actions outside his box, and more successful long passes.

Donnarumma did improve his play with his feet under the guidance of Luis Enrique at PSG, who wanted his team to play out from the back.

But while the Italian is no novice with his feet, the signing does mark a departure for City manager Pep Guardiola, and may be a sign that he’s willing to sacrifice some build-up play in return for more safety between the sticks.

Greg Thomson: Fan Tokens Market Reporter