CDS Crypto News Argentina Copa America Finals Advancement Boosts ARG Fan Token Value by 107%
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Argentina Copa America Finals Advancement Boosts ARG Fan Token Value by 107%

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Argentina Copa America Finals

Argentina Copa America Finals Advancement Boosts ARG Fan Token Value by 107%

Defending champions Argentina have advanced to the finals of the Copa America soccer tournament, significantly boosting the market value of the country’s fan token, ARG.

According to data from CoinMarketCap, the price of the Argentina Football Association’s cryptocurrency has surged by 107%, reaching $2.32 following the team’s 2-0 victory over Canada. This marks its highest level since May 30, with a remarkable 70% increase in the past 24 hours alone. The token’s market value has skyrocketed to $27.85 million, making it the second-highest among soccer fan tokens, although it still falls short of the record $32.4 million reached before the 2022 Qatar World Cup, which Argentina also won.

The ARG token is currently the most actively traded among soccer fan tokens. As of the latest data, its 24-hour trading volume stands at $23.57 million, nearly quadrupling that of the Paris Saint-Germain fan token, the largest soccer token by market value.

Argentina Copa America Finals Advancement Boosts ARG Fan Token Value by 107%

A significant portion of this trading volume, 88%, comes from the ARG-Turkish lira (ARG/TRY) pair listed on the centralized exchange Paribu. In contrast, the ARG-chiliz token (ARG/CHZ) pair on Chiliz.net accounted for just 0.17% of the global activity.

Chiliz.net serves as the trading platform for all sports and entertainment tokens partnered with Chiliz ($CHZ) and Socios.com. The Argentine Football Association partnered with Socios.com, a fan-engagement platform powered by the Chiliz blockchain, to launch the ARG token in 2021. Token holders gain access to unique team activities, experiences, and VIP services, including meet-and-greets with players and access to the Estadio Monumental, a historic football stadium in Buenos Aires, Argentina.

Fan tokens represent the convergence of blockchain technology and sports, allowing market participants to assess and respond to the financial and economic impacts of major sporting events.

Argentina Copa America Finals Advancement Boosts ARG Fan Token Value by 107%

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