The Fan tokens trading volume went beyond $1 billion in the digital asset space and experienced a significant 300% increase.
In the past 24 hours, fan tokens, digital assets issued and managed by sports teams, clubs, or players in partnership with crypto trading platforms, have experienced a significant increase of 330.36%. They have also achieved a trading volume of $1.2 billion and a 6.21% increase in market capitalization, currently at $323 million.
The top performers in the fan tokens sector, as per the data from CoinMarketCap, are the Alpine F1 Team Fan Token (ALPINE), Santos FC Fan Token (SANTOS), OG Fan Token (OG), FC Porto Fan Token (PORTO), and S.S. Lazio Fan Token (LAZIO). Conversely, tokens from a diverse array of teams in various sports were also green.
SANTOS has experienced a 44.61% increase in the past week and is currently trading at 4.11%. A 60.88% increase has followed this increase in the past 30 days. The fan token’s trading volume increased by 864.51% to $218 million, and it has fallen by 85.06% from its all-time high of $28.60 in December 2021.
In the interim, OG has experienced a 26.23% increase in the past 24 hours, reaching $7.71. This represents a significant increase of 26.23% in the past week and 174.00% in the past 30 days. Nevertheless, the digital asset has only experienced a 72.64% increase since October 2023. It is crucial to acknowledge that OG, with a trading volume of $629 million, accounts for over half of the total volume in the fan tokens sector.
Additionally, ALPINE experienced an 11.02% increase in value, reaching $1.41. LAZIO experienced a 20.36% increase to $1.65, while PORTO experienced a 17.57% increase to $1.65. In the past 24 hours, the trading volume of these altcoins has also experienced a substantial increase, with $61.8 million, $92.2 million, and $48.3 million, respectively, in circulation.
Various other fan tokens are also experiencing a surge
Paris Saint-Germain Fan Token (PSG), the second-largest altcoin in the fan tokens sector, has experienced a 2.92% increase in price, while its trading volume has increased by over 500% in the past 24 hours. However, the prices of fan tokens other than the ones mentioned above have also increased.
Following a 316% increase in its trading volume, which currently stands at $12.4 million, FC Barcelona Fan Token (BAR) also increased by 3.52% to $1.75. BAR has experienced a 0.57% decline in the past seven days, but it has experienced a 4.20% increase in the past 30 days.
The broader sector also performed well, as evidenced by the 3.33% increase in Manchester City Fan Token (CITY), the 2.57% increase in Roma Fan Token (ASR), the 1.62% increase in Arsenal Fan Token, and the 4.46% increase in AC Milan Fan Token (ACM).
Fan tokens are an essential component of the digital asset sector, as they enable fans to participate in events and festivals and gain exposure to their preferred teams and players. Additionally, they provide rewards for their participation. The holders of these tokens are eligible for prizes and even participate in a physical meet-and-greet.
