The 4 cryptocurrencies that one investor thinks could rise sharply during the Super Bowl
The Super Bowl is one of the most watched events in the world, and it has the potential to impact the cryptocurrency world significantly. Many people are interested in investing in cryptocurrency, and the Super Bowl is an excellent opportunity to learn which coins can rise in value dramatically. One investor recently shared his thoughts on four cryptocurrencies that could surge in value during the Super Bowl.
Argentina – Argentine Football Association Fan Token (ARG)
Even though the championship has just started, a token of Lionel Messi’s team has already seen a drop of 24% after Argentina’s loss to Saudi Arabia 1:2. The result of the match was unexpected as the Saudis
team was considered the outsider in the group. The coin’s exchange rate has recovered slightly since then, rising 4.2% to $5.61. Argentina’s next game is on November 26, and the opponent is Mexico.
Brazil – Brazil National Football Team Fan Token (BFT)
The exchange rate was around $1 at the beginning of the championship but dropped 10% on November 23 and fluctuated around $0.69. The first match of the team will be held on November 24, and the Latin American team will play against the Serbian team.
Spain – Spain National Football Team Fan Token (SNFT)
The first game of the Spanish national team will be on November 23. Team Costa Rica will be the opponent. The rate of SNFT tokens before the match is at $0.35 and shows a daily decline of 2.2%.
Portugal – Portugal National Team Fan Token (POR)
The cryptocurrency POR was worth about $4.92 on November 23, and its exchange rate has grown by 2.9% over the day. The team will play their first match against rivals from Ghana on November 24.
France Fan Token (FRA)
The first game of the French team was held on November 22. The French defeated the national team of Australia 4-1. The FRA token has risen by 147% up to $0.0013. The next game of the team will be held on November 26, and the opponent will be Denmark.
Despite the fact that fan tokens were designed to address utilitarian issues and enable loyal fans to become more involved in the life of the team, today, these coins are not being used in the way the developers intended.
The paradox is that originally aimed at purely technical functions, fan-tokens have become a kind of “shares” for the clubs instead, says the senior analyst.
The price of most of these tokens was tied not to the value of their features for the fan but to the success and public reputation of the club, the expert explained. According to him, in this regard, the market for fan tokens has turned into a sweepstake, already compromised by the ability to manipulate the price regardless of the teams’ actual successes.