Fluminense Fan Token Soars After Club World Cup Semi-Final Berth
The Fluminense Football Club’s crypto asset ($FLU), a fan token available on Brazilian exchanges like Mercado Bitcoin, has surged in value following the Rio de Janeiro club’s qualification for the FIFA Club World Cup semi-finals in the United States.
Reports from Saturday (5th) indicated that $FLU experienced a significant jump, rising by 9.05% in just 24 hours on the Mercado Bitcoin exchange. This surge propelled the token’s price to R$ 4.75 per unit.
As the sole Brazilian team remaining in the tournament, Fluminense has kept alive the hope of reaching the final and potentially winning their first-ever world champion title.
However, despite the club’s current success and the short-term gains of its crypto asset, $FLU has depreciated by 66% since its launch. Investors should carefully consider the token’s fundamentals and assess whether it’s a suitable time to invest, given its high market risk.
If Fluminense reaches the final and wins the coveted title, its crypto asset could attract renewed investor interest.
The Grupo Chilliz, associated with the token’s issuance, highlighted the token’s market potential. “For fans and traders, the message is clear: the story of Brazilian Fan Tokens is being consolidated in the Club World Cup, and $FLU may be the next to conquer the world. Let’s see which other tokens can ride this wave as the clubs shine on the field,” they stated.
Palmeiras and Flamengo Fan Tokens Decline
Palmeiras, after their 2-1 defeat by Chelsea on Friday (4th), also saw their crypto asset, $VERDAO, draw investor attention. However, with their defeat and elimination from the tournament, the digital asset’s price fell, consolidating with a 0.3% increase in 24 hours, priced at R$ 1.34 per unit, according to data from MB.
Flamengo, another Brazilian club with a Fan Token, $MENGO, also generated excitement among fans and traders, despite their 4-2 loss to Bayern Munich in the round of 16.
Unlike the Fluminense and Palmeiras crypto assets, $MENGO experienced a 2.64% decline in the market, with each Flamengo fan token costing R$ 0.56.
Notably, Botafogo was the only Brazilian club to compete in the Club World Cup without its own fan token.
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