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Argentina‘s victory against Canada in the Copa America semi-final not only delighted its fans but also brought significant gains to the holders of the Argentine Football Association Fan Token (ARG). The 2-0 win led to a notable increase in the altcoin‘s price and trading volume.
Remarkable Turkish Lira Detail in Trading Volume
According to CoinMarketCap, the price of the ARG token increased by 107%, reaching $2.32, the highest level since May 30. In just the last 24 hours, the altcoin’s price surged over 70%, highlighting the team’s success’s impact on market performance. ARG’s market value rose to $27.85 million, becoming the second-highest among football fan tokens. This figure is still below the record of $32.4 million achieved before Argentina won the 2022 Qatar World Cup.
The trading volume for the ARG token also increased significantly, surpassing $20 million in the last 24 hours. The latest data shows a 24-hour trading volume of $23.57 million, which is currently about four times higher than the trading volume of the Paris Saint-Germain fan token, the largest fan token by market value.
Interestingly, a significant portion of the trading activity for the ARG token occurred on the local cryptocurrency exchange Paribu, where the ARG/Turkish Lira (ARG/TRY) trading pair accounted for 88% of the total volume in the last 24 hours. In contrast, the ARG/Chiliz (ARG/CHZ) trading pair on Chiliz.net accounted for only 0.17% of the global trading volume.
The notable increase in the value and trading volume of the ARG token demonstrates the growing impact of sporting successes on fan tokens. As Argentina progresses towards the finals, the excitement among fans and token holders continues to grow, revealing the dynamic relationship between sporting success and cryptocurrency performance.
Offers Many Privileges to Fans
As is known, Chiliz (CHZ) and Socios.com are integral to the issuance and trading of the ARG token on the Chiliz.net platform, which is dedicated to sports and entertainment tokens. In 2021, the Argentine Football Association partnered with Socios.com, a fan engagement platform supported by the Chiliz Blockchain, to launch the ARG token.
ARG token holders can enjoy unique privileges such as access to exclusive team events, experiences, and VIP services, including meeting the team’s players and visiting the historic Estadio Monumental football stadium in Buenos Aires, Argentina. Fan tokens like ARG represent the fusion of Blockchain technology and sports, allowing market participants to measure and respond to the financial and economic impacts of significant sports events.
