Guest Expert: Fabrizio Fossi Fiaschetti
DeFi and Digital Asset Analyst.
Disclaimer:
Fabrizio’s views are his own and are not necessarily shared by Fantokens.com. Article is for information purposes only. This article does not constitute financial advice.

This article analyzes a trading opportunity that unfolded over the course of a month on $SPURS, the Tottenham Fan Token. By tracking the team’s progression from the Europa League quarter-finals to securing a place in the final on May 21, we explore how football-related catalysts can drive price action, and how traders could have positioned accordingly.

Where Inefficiency Comes From and How Big It Can Be

This opportunity emerged largely because Fan Token markets are still in their early stages, with relatively low liquidity.

Source: FanTokens.com

As a result, price action can lag behind real-world developments. In this case, even as Tottenham advanced through the quarter-finals and semi-finals (increasing their probability of reaching the final) $SPURS didn’t immediately reprice. This delay created multiple entry points for traders able to anticipate the market reaction before the token adjusted to reflect the team’s improving odds.

Source: UEFA.com

As a point of comparison, prediction markets like Polymarket were significantly faster and more efficient at pricing in Tottenham’s progress than $SPURS. Each of the team’s wins led to an immediate repricing of their chances to win the Europa League. On April 17, after Tottenham defeated Frankfurt in the quarter-finals, their odds jumped from 16% to 35%. Following the first-leg semi-final win against Bodo/Glimt on May 1, the probability rose to 43%. Finally, after securing victory in the second leg on May 8, the odds reached 45%, confirming their place in the Europa League final on May 21 against Manchester United.

Source: Polymarket

Replaying the Trade: $SPURS in Four Phases

The timeframe for this trade spans roughly one month, from April 17 to May 21, the date of the upcoming Europa League final. Since Tottenham’s quarter-final win against Frankfurt on April 17, $SPURS has attracted growing attention and trading volume, rallying over 60% from its April lows in the $0.40–$0.45 range. The upward momentum followed key victories in both the quarter-final and semi-final stages.

Between 17 April and 21 May the $SPURS chart produced four well-defined phases that together demonstrate how to translate sporting catalysts into trading decisions. In the first phase, after the quarter-final win on April 17, $SPURS offered ample time to position, as the price took several days to react. The second phase began on April 25 when $SPURS finally started repricing, when it broke above the $0.47 resistance on expanding volume and never retested that level, triggering a clean structural shift. Over the next five days the token advanced more than 25%, topping near $0.60 into the first leg of the semi-final on May 1.

Phase three delivered the best risk–reward entry of the sequence. Despite Tottenham’s victory versus Bodo/Glimt and Polymarket odds for a Europa League title jumping from 35% to 43%, $SPURS sold off almost 6% over the following 36 hours, hitting a low of $0.545. This pullback created another entry point for traders expecting a delayed move. That move arrived on May 3 as soon as buyer aggression returned, and a four-hour candle printed volumes 25 times the 20-period average, triggering a sharp 27% rally in four hours from $0.55 to $0.74. The token then stabilized around $0.65, where a support zone formed.

The final phase unfolded after the second semi-final leg on May 8. Despite another Tottenham win, $SPURS showed no immediate reaction, likely a result of the market already pricing in the high probability of Tottenham reaching the final. As the final approached, however, momentum resumed. On May 14, $SPURS broke higher again and has since been consolidating above $0.70–$0.72 area.

Source: TradingView

Up to today, this setup has already delivered a strong trade over a 20-day period, offering multiple clear entry points with defined invalidation levels, several opportunities to accumulate, and moments to take profit along the way (i.e., the May 3 spike when price briefly touched $0.92). The price action also respected the 4-hour 25-period EMA throughout the move, allowing traders to trail a stop below it as a dynamic risk management strategy, particularly in case Tottenham failed to advance to the final.

Setting Up For The Final Move

Looking ahead to the final, the Polymarket “Europa League Winner” market has already recorded over $17 million in volume, with the odds roughly split: Manchester United holding a slight edge and Tottenham priced at a 46% chance of winning.

Source: Polymarket

This sets up a compelling risk/reward scenario for $SPURS, which is currently consolidating above the $0.70–$0.72 support. Given the high volatility of $SPURS, a Tottenham’s win could realistically push the price back toward the previous peak of $0.92 from May 8, representing a potential 25% gain from the current consolidation zone. With a conservative stop loss placed below the previous support at $0.63, the trade offers a reward-to-risk ratio of at least 2:1.

Source: TradingView

Given the near 50/50 implied probability from Polymarket, such a setup would carry a positive expected value, as a success rate around 50% combined with a reward at least twice the risk results in favorable long-term outcomes.

Source: X

A Tottenham win could trigger one final, hype-driven leg up, but it’s likely to be short-lived. A loss, on the other hand, could lead to a swift drop. In both cases, volatility will likely spike around the event.

For traders who entered the position earlier in April, the final offers a natural exit point. Setting both a take-profit and a stop-loss allows for controlled risk management, regardless of the outcome. For those looking to trade the final itself, this is a one-shot setup: a clean entry just above the consolidation zone, with clearly defined risk and a potential upside if the market reprices another win.

Conclusion

The $SPURS case illustrates how football outcomes can create inefficiencies in fan token markets, offering traders multiple entry points and asymmetric setups. With low liquidity and delayed repricing, these markets reward those who can anticipate sentiment shifts before the crowd reacts.

As fan tokens mature, such inefficiencies may compress, but for now, they offer a real opportunity for traders who understand the connection between sport events and on-chain price action.

References

FanTokens Website | Link

Polymarket – Europa League Winner | Link

UEFA – Europa League | Link