Despite winning the 2022 FIFA World Cup in Qatar, Argentina’s Fan Token ARG has plunged in price from over $6 to $2.68 in the past 24 hours, losing 50% of its value, according to CryptoSlate data. Exceeded.
The declining value of Fan Tokens is a surprise. Because the holder expected that a win would increase the value of his ARG. It’s unclear why the property experienced such a large sale.
Fan Tokens fell by more than 30% early in the tournament when Argentina suffered a shock defeat to Saudi Arabia.
After the Argentine team’s fortunes improved, its price performance quickly recovered, but ARG lost more than 60% of its value during the World Cup tournament.
The ARG will start in July 2021 and crossed $9 on November 18th, two days before the World Cup started. Since then, it has fallen about 69% from its all-time high.
On the other hand, ARG’s price performance isn’t completely strange compared to other fan tokens. Most of them recorded negative price performance in the last 24 hours. According to CryptoSlate data, the overall market capitalization of Fan Tokens has fallen by 5.29% over the past 24 hours and over 8% over the past 7 days.
First to appear on CryptoSlate after Argentina’s Fan Token dumped 50% despite its World Cup victory.
