Palmeiras and Flamengo Fan Tokens Fire Up Ahead of Libertadores Final
The two teams leading the Brasileiro Série A are set to face off in the Copa Libertadores final on Nov. 29, and the official club Fan Tokens of both teams are already firing up ahead of the big game.
Both the SE Palmeiras Fan Token ($VERDAO) and the Flamengo Fan Token ($MENGO) have registered notable gains in the week ahead of the final.
While bookmakers have made Flamengo slight favourites to clinch the Libertadores title, the market movement of the clubs’ Fan Tokens in the run-up to the final might convey a different story.
SE Palmeiras Fan Token Jumps 22% in Week
From its weekly low of $0.022, the price of the SE Palmeiras Fan Token ($VERDAO) increased 22% in the week leading up to the Copa Libertadores final, climbing to a price point of $0.027.
The price surge in the past seven days almost returned the $VERDAO token to its monthly high of $0.028, while the token’s trade volume increased by more than 500%.
Perhaps surprisingly for a team that’s still in the running for the Brasileiro Série A title and also in the final of the Copa Libertadores, Palmeiras have failed to register a win in their last five games — drawing two and losing three.
This marks a major turnaround for a team that went on a 10-game unbeaten run between August and September.
Flamengo Fan Token Climbs 8.3% in Week
From a weekly low of $0.084, the price of the Flamengo Fan Token ($MENGO) rose to $0.091 over seven days — marking 8.3% growth.
In the course of the week, the token’s trade volume fluctuated from $76,000, to as much as $256,000.
Since Nov. 4 — just days after the Copa Libertadores finalists were decided — the price of the $MENGO token has grown 16.6%, climbing from a monthly low of $0.078.
Build-Up to Libertadores Final
Flamengo’s five-point lead at the top of the Brasileiro, coupled with Palmeiras recent poor form, has made Flamengo slight favourites for the Copa Libertadores final.
However, anything can happen in cup competitions, and the 22% surge by the $VERDAO Fan Token in the past week may suggest traders are banking on a surprise Pameiras win.
Yet the Flamengo Fan Token’s 16.6% increase since the start of the month might mean that traders have been quietly accumulating $MENGO tokens ever since the finalists were announced.
With both teams having won the Copa Libertadores three times already, this is more than just a one-off competition. With pride, legacy and the Libertadores title on the line, football fans should be guaranteed a good show on Saturday night.
Greg Thomson: Fan Tokens Market Reporter