The World Cup in Qatar has come to a spectacular end. Argentina managed to beat France via a penalty shootout yesterday, so that it could crown itself as the new world champion. However, the exceptional performance was not reflected in the rate of the Argentine Football Association Fan Token (ARG).
ARG fan token drops sharply
The price of the fan token of the Argentina national team has been in the red since the final of the World Cup. Before the first whistle sounded, the price was still at about $5.60. After a small increase towards $ 6.10, the price started to fall. The absolute low was around $2.70, which is a drop of just over 50%. According to data from CoinMarketCap it is therefore the hardest fall in the past 24 hours in the category ‘fan tokens’.
This will come as a surprise to many, but not to those who have been monitoring the performance of various fan tokens this World Cup. Earlier you could read in the altcoin news that the national fan tokens plummeted during the tournament. For example, the fan tokens of Portugal, Spain, Brazil and Argentina have all fallen between 60% and 88% since November 20, the start of the World Cup.
Influence World Cup performance
Performance on the field only had a negative impact on the course during the World Cup. The tokens of the national teams lose a lot after a loss: the price of ARG, for example, also crashed by 31% after Argentina lost its first match against Saudi Arabia.
However, a nice performance on the field has not yielded nice profits for crypto investors. The current example of Messi and co illustrates this perfectly.
Right before the World Cup was the best time to get rid of your fan tokens, as many of these tokens had peaked at that point. Since the start of the football fest it has only gone downhill for all fan tokens.