Fan tokens have carved their own niche in the crypto scene. Their use case doesn’t exist within only the digital but provides critical powers to the holders who can govern certain aspects of their teams. One of the main reasons it seems that the top crypto gainers on Binance today are fan tokens.
And because the reason for their growth is apparent, more and more people are rallying behind these crypto assets. Here are the top crypto gainers on Binance that we are talking about.
Santos
The fan token leading the charts today is SANTOS. This FC crypto has gotten a bullish rating and was up by 140.58% on Thursday. It is surprising, considering that the general crypto market was down by 1.34%. Based on the Binance smart chain, this cryptocurrency was launched in 2021 and gave the holder powers to govern certain aspects of the teams, such as the team mascot, the dance during halftime, and more.
Santos football club is one of the most traditional football organizations in Brazil – with a wide array of fans – a high percentage of which have invested in the Santos FC tokens.
The steep increase of the SANTOS price has puzzled the crypto investors, as the increase in other sports tokens. While we can’t exactly point out why SANTOS price has increased, the general bullishness about sports cryptos might be something to consider.
Your capital is at risk.
ALPINE
Ranking second is the Alpine FT Team Fan Token (ALPINE). It has increased by 22.1% within the last 24 hours and saw a steep increase from $3.11 to $4.85 yesterday. The crypto retraced to below $4 levels at the time of writing before bouncing to $4.2.
Binance announced the partnership with the Alpine F1 Team to join the Binance Fan token platform in early 2022. ALPINE opened on Binance at $5.33 before a steep drop to $2. Before bouncing to its all-time high of $9.54. The price then went down rapidly until it punched below the $2.00 level to $1.44 before bouncing. It then found support at $3.00 and traded sideways until the recent parabolic increase.
Your capital is at risk.
OG
The OG Fan token is another crypto to gain a significant rally during the past 24 hours. The price increased parabolically from $5.36 to $8.64 before a marginal retrace. However, the token has bounced back since then and is currently trading at $8.44.
The OG Fan tokens represent the OG team of DOTA – one of the world’s leading competitive video games. This esports token is available on a wide array of platforms, including Binance.
OG Fan tokens are one of the oldest sports cryptos on this list, having launched in December 2020. It opened at $2.83 and traded sideways till January 2021 before experiencing a passive uptick that sent the OG price to its all-time high of $19.24. The sports crypto later experienced other upswings through the later months. However, like altcoins, it dropped to its all-time low in May at $1.18. It then established a marginal uptrend before the recent steep increase by 38.1% to $8.44.
Your capital is at risk.
PORTO
The #4 fan token on the list to experience an uptick is the FC Porto (PORTO). This crypto has experienced an increase of 100% (almost) and went from $3.89 to $6.15 before retracing. It later bounced back closer to its $7 resistance.
At the time of writing, PORTO is trading at $6.77. The FC PORTO token was introduced the November last year and was able to wick to $14.64, which is its all-time high. The average of the day remained at $8.26. It then retraced and found support at $2.0 before reaching near $6 in April 2022. PORTO then dropped to below $2 levels because of the bearish sentiments of the crypto market. After bouncing, it struggled to stay above this resistance. However, it experienced a parabolic rise in late July 2022 before trading sideways for a while.
The tokens’ value has not beyond $6.77.
Your capital is at risk.
LAZIO
LAZIO is the fan token of SS Lazio fans letting the holders engage with the club’s ecosystem, donations, eCommerce, and NFTs. The LAZIO price rose by nearly 40% on Thursday before retracing and bouncing at an even higher level – $5.26, which is its current price.
Your capital is at risk.
BAR
Football Club Barcelona Fans were in it for the surprise when the price of the token rose by almost 30% – going from $6.24 to $7.76.
There was a minor retrace to $6.67 later, but then the price went up to $7.78. It is the current price of this token.
Your capital is at risk.
ATM
The Atletico Madrid Fan Token (BAR) experienced a 20% increase from $4.94 to $5.97 yesterday. And a minor retrace later, the price punched above the $6 levels.
At the time of writing, BAR is now trading at $6.18.
Your capital is at risk.
PSG
PSG, or the Paris Saint-Germain Fan token, is another fan cryptocurrency that experienced a marginal increase in the last two days. The price of this crypto went from $8.25 to $11.25, which is approximately a 20% increase. There was a marginal retrace, but it didn’t last as the price went above the $10 mark again.
At the time of writing, PSG is trading at $10.33.
Your capital is at risk.
ASR
The AS Roma Fan Token is another sports crypto that went above and beyond in this bear market and experienced a steep rise. It went from trading below $4 levels to near $5. This 20% increase was parabolic – making the entire crypto community question why.
At the time of writing, ASR is trading at $4.93.
Your capital is at risk.
JUV
Wrapping up this list is the final sports token, the JUV representing the fans of Juventus. And like all the other cryptos on this list, the rise JUC experienced is also parabolic. It went from trading at $5 to jumping above the $6.5 mark. And at the time of writing, it is currently trading at $6.64. It is a 25% increase within a short span of time.
Your capital is at risk.
Why Fan Tokens’ Prices are Increasing?
All the crypto experts are puzzled about the sudden interest in Fan tokens. Many believe that the recent listing of Battle Infinity on PancakeSwap might have something to do with this sudden interest. It is because Battle Infinity’s flagship product is IBAT Premiere League, a fantasy sports utility for the blockchain.
That being said, it is all speculation until this point, as the real reason behind fan token’s increase is still unknown. Although, it will be interesting to see how long this enthusiasm holds up – for it might give us some insight.
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Source: https://insidebitcoins.com/news/top-crypto-gainers-on-binance-today-are-fan-tokens