These cryptocurrencies’ prices spike as FIFA World Cup is imminent
Despite the extremely negative background on the crypto market, the upcoming soccer “holiday” still manages to cheer up something so gloomy. Two days before the World Cup, to be held in Qatar this winter, the tokens of several national teams are showing extremely promising price action.
First of all, we should note the tokens of Argentina (ARG) and Portugal (POR). In the last seven days, their prices rose by 31% and 43%, respectively, with most of this growth coming in the last 24 hours. Investors’ thoughts in choosing these tokens for their bets is clear, with Lionel Messi and Cristiano Ronaldo playing for these national teams.
soccer for usdt
What is surprising is that along with national team tokens, football club fan tokens are also increasing significantly in value. A handy tool for analysis here would be an ETF of sorts for Football Club Tokens from Binance, FOOTBALLUSDT. While the instrument registered a 23% drop in value upon the FTX-driven crash of the crypto market, up to the present moment, a week later, it has not only recovered but outperformed the 12% drop.
We would be remiss not to mention Chiliz, the issuing platform for most of the soccer-oriented tokens. The price action of the CHZ native token in the run-up to the World Cup makes the token one of the most profitable among the top 100 cryptocurrencies by market cap, according to CoinMarketCap.
