Why Has the Atlético Madrid Fan Token ($ATM) Surged 40.8% in One Week?

While the World Cup dominates the attention of football fans everywhere, the Atlético Madrid Fan Token™ ($ATM) has quietly rocketed 40.8% in the last seven days.

Despite the domestic season having ended some weeks ago, and La Liga’s resumption being two months away, $ATM has garnered considerable interest from SportFi traders. In fact, its seven-day results are the best among football Fan Tokens™.

So, what’s driving the interest – and can the momentum continue?

What’s Fuelling $ATM Rise?

There are a few possible reasons for this spectacular rise, but before we consider them, let’s look at the trading charts.

Priced at $0.93 on June 10, the Atlético Madrid Fan Token™ ($ATM) had rocketed to $1.5 by June 17, marking gains of 61.2%. Although it’s since fallen back to $1.31, it’s still appreciated by 40.8% over the last seven days.

At the time of writing, 24hr volume stands at $13.5M, with this figure having risen steadily in recent days. By volume, $ATM is the top-performing Fan Token™, surpassing the likes of $PSG and $ASR. The latter is another that’s been on a tear of late, its value having climbed 48% between June 5 and June 15.

Little over a week ago, Atlético rejected a 150M euro offer from Real Madrid for 26-year-old striker Julián Alvarez, with the club citing the player’s 500M euro release clause. Atlético cheekily responded to Real Madrid’s claims that it had “expressed its gratitude for the proposal,” quipping “You must have confused education with gratitude, but to leave no doubt: we don’t thank you for anything.”

While this made for an amusing news story, could it really have been the spark that ignited interest in $ATM? Well, perhaps: in the two days before the story broke on June 9, $ATM had slid from $1.25 to $0.91 (-27.1%). The rejection of Real’s bid coincided with the bottom and $ATM began to trend upward.

A Bidding War for Alvarez?

While football rumours can often be taken with a pinch of salt, it appears that Real Madrid are not the only club interested in acquiring Alvarez’s services, with Barcelona, Paris Saint-Germain, and Arsenal also credited with an interest.

Perhaps the possibility of a bidding war between the four clubs, which could be intensified if Alvarez shines for Argentina ($ARG) in the World Cup, is feeding into bullish $ATM momentum.

Whatever the reason, the Atlético Madrid Fan Token™ remains one of the most popular sports assets to hold and trade, and it’s worth keeping an eye on in the weeks ahead.

Ronnie McCluskey: Fan Tokens™ Market Reporter