Fan Tokens issued by the Ultimate Fighting Championship (UFC), Polish football club Legia Warsaw, and professional esports organization Team Heretics have been some of the market’s biggest recent winners.

Although trade volumes remain low for these assets, recent gains have certainly caught the eye. So, what’s driving the momentum?

UFC Fan Token ($UFC) Pops on News of McGregor Return

As a low-cap Fan Token ($75k), the UFC Fan Token ($UFC) can sometimes fly under the radar but where some traders see low volume and a modest market cap, others see opportunity.

In the last 24 hours, the token’s value has risen by 16.4%, perhaps partly a consequence of rumors about Conor McGregor’s long-awaited return. Out of action since suffering back-to-back defeats to Dustin Poirier in 2021, and nine years removed from his last UFC title win over Eddie Alvarez, ‘Mystic Mac’ remains the UFC’s biggest and best-known star.

Recent chatter has centered on a proposed White House card on June 14, with former three-time Bellator lightweight champion Michael Chandler slated to be 37-year-old McGregor’s opponent. The card will coincide with the Semiquincentennial: the 250th anniversary of the Declaration of Independence.

Interestingly, the UFC Fan Token ($UFC) achieved its highest ever price soon after McGregor’s last outing, on September 30, 2021, when it hit $7.61.

$LEGIA Token Up 106% in Three Days

The Legia Warsaw Fan Token ($LEGIA) has been on a similar upward trajectory of late: since December 1 it’s jumped by 106%, rising from a price of $0.15 to $0.31.

Although the token has spent most of the last three months tracking sideways with modest deviations, sentiment started to rise in late November, this despite the club’s home defeat to Sparta Praha in the Europa Conference League. Legia currently sit 28th of 36 in that competition, meaning they’re still in with a chance of qualification to the next stage via the playoff.

The most successful Polish club in history, having won a record 15 Ekstraklasa league titles, Legia Warsaw are the current holders of the Polish Cup and Polish Super Cup, although they have not clinched the league since 2021.

Legia’s domestic campaign has been a poor one so far, with just four wins from 16 and seven draws. Disappointingly, the club is the only one in the Polish league not to have recorded a win in their last six games. Not that you’d notice given the performance of $LEGIA so far this month.

Team Heretics Fan Token ($TH) Up 9% in 24hrs

The world’s most followed Spanish-speaking esports and entertainment team, the Red Bull-sponsored Team Heretics recently completed its roster by signing Yoon “Ice” Sang-hoon from Team BDS.

The performance of the Team Heretics Fan Token ($TH) has been another cause for celebration: its price has jumped 9.5% in the last 24 hours.

Zooming out to look at this low-cap token over a three-month period, there have been notable peaks and troughs, with the price going as high as $0.05 and falling as low as $0.02.

Ronnie McCluskey: Fan Tokens Market Reporter