Why Are Turkish Clubs Dominating Fan Token Weekly Gains?

Three Turkish clubs currently occupy the top five Fan Tokens by weekly price jump, so it’s natural to wonder why they’re on the march.

Let’s dive straight in.

Why Galatasaray Fan Token ($GAL) is Climbing

The biggest SportFi climber over the last seven days is the Galatasaray Fan Token ($GAL), which is up 11.3% per Socios.com data, with positive sentiment largely stemming from impressive domestic form and advancement to the last-16 of the Champions League.

Currently valued at $1.6, making it the third-highest valued Fan Token, $GAL trade volumes have consistently been north of $3m in recent days, following Galatasaray’s 3-1 win over Alanyaspor on Saturday, a result that gives them a four-point cushion at the summit of the Turkish Süper Lig.

Yesterday, a day after that win, the value of $GAL jumped from $1.58 to $1.66, a spike of 5%, before things settled down. The price of $GAL is still up 31.1% since a month ago.

A look at the Süper Lig table suggests second-placed Fenerbahçe have the best chance of catching them, although Trabzonspor are only seven points behind. 

Fenerbahçe’s 2-2 stalemate with Antalyaspor yesterday might have had something to do with the aforementioned 5% for $GAL. Meanwhile, Galatasaray look forward to a two-leg UCL tie with Liverpool, starting with the home leg next Tuesday (Mar. 10).

Could progression at the expense of an inconsistent Liverpool team catalyze even more bullish sentiment for $GAL?

Trabzonspor ($TRA) and Beşiktaş ($BJK) Make Gains

Currently lying third and fourth in the Süper Lig, Trabzonspor and Beşiktaş have also seen their Fan Tokens rise in value lately. 

The Trabzonspor Fan Token ($TRA) is up 7.4% for the week, while the Beşiktaş Fan Token ($BJK) has climbed 6.9% over the same timeframe. 

So why are $TRA and $BJK rising? In the case of 2021-22 champions Trabzonspor, it likely stems from the fact that they have bounced back from defeat to Fenerbahçe on Feb. 14 with two wins. 

This, coupled with Fenerbahçe’s draw yesterday, means Trabzonspor are just three points off second place.

But what about $BJK? Beşiktaş secured a 1-0 win over Kocaelispor on Saturday to stay fourth, although they are five points behind Trabzonspor.

Well, Beşiktaş are on a 17-match unbeaten run so that helps: they have not suffered a defeat since losing 3-2 to Fenerbahçe on Nov. 2. Over the last month, $BJK is up 10.6%. 

Although pretty much out of the league title race, Beşiktaş backers may give them a chance of winning the Turkish Cup, where they top Group C after three games: they face off against Rizespor in that competition on Wednesday (Mar. 4).

The fact that all three clubs are climbing shows just how many different factors feed into Fan Token sentiment, and how what happens on the pitch affects what happens on the chain.

And there is a fourth Turkish team whose Fan Token may climb if results go their way: Fenerbahçe. Knocked out of the Europa League by Nottingham Forest despite winning the away leg 2-1, they can now focus fully on overhauling Galatasaray in the league.

Ronnie McCluskey: Fan Tokens Market Reporter