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Fan tokens rally with 8% increase in combined market cap

Markets
Fan tokens rally with 8% increase in combined market cap

Football fan tokens continue registering massive gains amid the bullish outlook dominant in the broader crypto markets. Consequently, the combined market capitalization of these tokens has recorded an impressive 8% gain in the past 24 hours, recently crossing the $370 million threshold.

Prominent price-tracking resource CoinGecko called public attention to the latest bullish campaign in a tweet today. At the time of the disclosure, the combined market cap of these tokens had surged by 9% in a 24-hour period.

https://twitter.com/coingecko/status/1645705259887783937?t=JmuvHI8LvDbTziYIYZgfqA&s=19

Despite a recently-launched opposition from the bears, these tokens continue to sustain their respective rallies, with a few facing mild slowdown. The cumulative market cap of these tokens is up 8.5% in the past 24 hours, leading to a breakout above the $370 million threshold. Their valuation currently stands at $370.05 million at the time of writing.

The 20 most significant fan tokens are all in the green in the past seven days, with OG Fan Token (OG) taking the lead, having appreciated by a massive 238.4% within the time frame. The asset garnered huge global attention with its sharp rally over the weekend. As previously reported, OG Fan Token surged by 414% from April 7 to April 8, climbing to a high of $14.88 before facing resistance.

In the 24-hour time frame, the Juventus Fan Token (JUV) is registering the largest percentage of gains, with a 47.1% surge. The Atlético Madrid Fan Token (ATM) and the AS Roma Fan Token (ASR) secure second and third positions, respectively, with respective gains of 27.4% and 26.1%. 

Moreover, amid the impressive rally, social activity surrounding fan tokens remains on the rise, with a contribution from the bustling domestic leagues and the Champions League competition. JUV and OG Fan Token have seen the most significant increase in social engagements, currently sitting atop the trending list along with Manchester City Fan Token (CITY).

Football fan tokens are designed to give fans of football clubs unique access to exclusive content, rewards, and voting rights within the ecosystem of their favorite team. They help to bolster the bond between fans and their football clubs and bridge the world of football with blockchain technology.

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