Argentina’s advance to the Copa America finals has almost doubled the market value of the country’s fan token, ARG.
The token’s price has increased by over 65% in the last 24 hours, making it the second-largest soccer coin by market value.
ARG Token Soars by Over 65%
According to CoinGecko data , the price of the ARG token has increased by 98.8% over the past week, reaching $2.34, its highest level since May 30. At the time of writing, the token was trading at $2.34 and was up by 67.8%, driven by the excitement surrounding Argentina’s Copa America performance.
This increase in value has made ARG the most heavily traded fan token in the market. Its daily trading volume has increased by 578.50%, reaching $23.8 million. This figure is nearly four times higher than that of the Paris Saint-Germain fan token, which holds the title of the largest soccer token by market value.
However, it still falls short of the record $32.4 million achieved during the lead-up to the 2022 Qatar World Cup, which Argentina also won. This tournament saw the token reach its all-time high of $9.1.
Meanwhile, the Spain National Football Team fan token (SNFT) also saw a 10% increase in value following Spain’s victory over France in the European Championship. On Tuesday, Spain’s 2-1 win led to the SNFT’s price rising from $0.023 to $0.026.
Launched in 2021, the ARG token was issued by the Argentine Football Association through Socios.com, a fan engagement platform powered by the Chiliz blockchain. Chiliz.net serves as the primary trading platform for sports and entertainment tokens, and it is partnered with Chiliz ($CHZ) and Socios.com.
Holders of the ARG token gain access to various exclusive team activities, experiences, and VIP services. These include the opportunity to meet the team’s players and access the Estadio Monumental, a historic football stadium in Buenos Aires, Argentina.
Drake Loses $300k Bitcoin Bet
On Monday, Drake took to Instagram to reveal he had bet against the Argentina National Football Team. Before the match, the rapper placed a $300,000 bet in Bitcoin, predicting that the Canada National Football Team would defeat the World Cup champions 2-1.
Drake playfully taunted Argentine fans, saying, “This could get Messi.” Had he won, the Canadian rapper would have received a $2,880,000 Bitcoin payout.
Not like us, pic.twitter.com/Zoa4OTbgnK
— Selección Argentina in English (@AFASeleccionEN) July 10, 2024
However, Drake’s bet did not pay off, as Argentina knocked Canada out of the Copa America. Following the victory, the Argentine Football Association’s social media accounts took a playful swipe at the rapper, referencing Kendrick Lamar’s diss track “Not Like Us.”
