Interest in the Tottenham Hotspur Fan Token ($SPURS) has risen dramatically today (Jan. 15), after the north London club signed English midfielder Conor Gallagher in a deal worth £35 million.

Ex-Chelsea man Gallagher, 25, made 77 appearances for Atlético Madrid since joining Diego Simeone’s side in August 2024, and he brings serious pedigree to a struggling Spurs, who are currently 14th in the Premier League.

Tottenham Hotspur Fan Token ($SPURS) Trade Volume Spikes 768%

Since the deal was confirmed yesterday, 24-hour trading volume for Tottenham Hotspur Fan Token ($SPURS) has risen from a modest $98,034 to $851,248, a huge jump of 768%.

On Jan. 15, there was also a 7.1% intraday rise in the value of $SPURS, which climbed from $0.195 to $0.209.

Tottenham Hotspur reportedly beat competition from high-flying Aston Villa to acquire Gallagher’s services, with the midfielder joining on a five-year deal. As well as featuring for Chelsea and Atlético Madrid, Gallagher has 22 caps for England and will be keen to impress in order to make the national squad for the upcoming World Cup.

Spurs have won just one of their last six league matches and were recently eliminated from the FA Cup by title contenders Aston Villa. As well as Gallagher, Spurs are reportedly close to finalising a deal to bring Brazilian defender Souza from Santos, in a deal worth £13 million.

The $SPURS Fan Token has largely traded sideways in recent weeks, with the last major spike occurring on Dec. 22, when its value rose 23.4% intraday. This jump illustrates the way in which Fan Tokens can sometimes rise and fall based on few discernible indicators: the jump came two days after Spurs suffered a home defeat to Liverpool, their second consecutive Premier League loss.

What Next for Spurs?

Sitting just outside the top 20 Fan Tokens, $SPURS has a market cap of $2.2 million, compared to $6.3 million for the Arsenal Fan Token ($AFC) and $8.4 million for the Manchester City Fan Token ($CITY). While trade volumes are often sub-$100k, there have been several notable spikes this season.

The aforementioned 23.4% intraday price spike on Dec. 22, for example, coincided with a significant surge in trade volume which rose to $3.5 million, compared to $70k just two days earlier. Trade volume also hit $11.7 million on Aug. 25, two days after Spurs beat Manchester City 2-0 at the Etihad.

Although toiling in the league, Spurs are 11th in the Champions League, ahead of Chelsea, Barcelona, Napoli, and Juventus. This Saturday (Jan. 17) they are at home to struggling West Ham, and after that they have home advantage in the Champions League against Borussia Dortmund (Jan. 20).

If they can sneak into the top eight and gain automatic qualification, plus strengthen further in January, might $SPURS be a token to watch throughout the rest of the month?

Ronnie McCluskey: Fan Tokens Market Reporter