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What is Fan Token? Top 3 notable Fan tokens in Euro 2024
Fan Token is one of the most prominent monetary products in each of the biggest events that can take place, bringing many opportunities to investors. So what is a Fan Token? Which Fan Token stands out in this year's Euro 2024? Find out with Coin Viet in this article.
Fan Token is a digital currency that represents sports clubs and sports organizations, in which the owner of this token will enjoy some of the most benefits. These benefits will be tied to the real-life benefits the club offers.
Currently, the number of Fan Tokens circulating on the market is quite small, only a few are listed on leading exchanges, and the rest will be sold on specific exchanges, such as Chiliz. Exchange.
Most Fan Tokens currently have quite low accounts, only really growing when potentially large events like Euro and Wordcup take place. Therefore, this year's Euro 2024 is the perfect time for consultants to choose tokens and make profits.
Below are 3 outstanding Fan Tokens in Euro 2024.
OG Fan Token is a digital currency representing the OG Dota 2 team, a professional e-sports team that has won the Dota 2 world championship twice. This is considered one of the rare Fan Tokens. launched Launchpool on Binance, with liquidity surpassing most other Fan Tokens.
Although OG is not a football project to respond to the Euro 2024 trend, most Fan Token projects when in season will have simultaneous growth, not necessarily tokens directly related to that event. Investors need to pay more attention to the token's valuation as well as liquidity to avoid "virtual" buying and price slippage.
Currently, OG has a Market Cap of more than $20 million, which is a good valuation for a Fan Token launched by launchpool and listed on the top Binance exchange today. In addition, OG has not had any strong growth recently, so investors can expect the price to increase soon.
Chiliz is a prominent project in the Fan Token narrative, as most of the current Fan Tokens are exclusively signed and issued by Chilliz with football teams. Chiliz built a private web 3 network to meet the needs of trading and owning Fan Tokens on this platform.
In the past at the 2022 Worldcup, Chiliz was the project leading the Fan Token trend, bringing huge cash flow to this story. Chiliz's token CHZ itself has also increased many times, leading to the growth of other projects. according to.
Currently, CHZ has a Market Cap of approximately $1 billion and is listed on most of the top exchanges. Although this is a fairly high capitalization, according to CoinViet's assessment, this is still a potential valuation that will bring profits shortly, when the Euro 2024 season approaches.
Built on Chiliz Network, Chiliz Inu is the first meme coin launched on this blockchain. Inspired by the leading token in the entire ecosystem, Chiliz, Chiliz Inu is the first meme and also the largest meme on Chiliz Chain. Currently, after only 17 days of launch, Chiliz Inu has the largest community on the network; $2.58 million Market Cap and over $182k in liquidity, the highest of all tokens on the Chiliz Chain ecosystem. In addition, this is also one of the rare meme tokens promoted and mentioned by Chiliz's boss himself on Twitter, so this will definitely be one of the most prominent meme projects that you should pay attention to attention soon.
The entry price for this order is very attractive as some analysts believe that ONDO's reasonable price is in the range of 0.4-0.7 USD. With a significant investment beyond the expected scope, Lookonchain suspected the whale had an insider.
Someone created a new wallet 27 hours ago and withdrew 1,870.68 $ETH ($5.7M) from #Gemini .
Then he spent the 1,870 $ETH ($5.7M) to buy 6M $ONDO at an average price of $0.95 in the past 27 hours.
Does this guy know something that we don't? https://t.co/3ZQ6s6SnVM pic.twitter.com/G1udIF8Mhw
— Lookonchain (@lookonchain) May 17, 2024
This transaction attracted the attention of the crypto community and ONDO, the native token of Ondo Finance, skyrocketed 11% immediately after the purchase.
However, ONDO has dropped after the latest bounce and is trading below the $1 threshold at the time of writing. However, ONDO is still increasing by more than 19% over the past week.
Crypto analyst Mags commented on the price movement, sharing analysis on the next price target for ONDO.
“If the price closes above 1 USD, the next target will be 1.4 USD and 2.7 USD or more.”
$ONDO keeps printing up +131%
$1.5 Incoming, Binance listing soon 👀 https://t.co/bF8lznNDOP pic.twitter.com/5v95S4aZvn
— Mags (@thescalpingpro) March 25, 2024
A whale created a new wallet on May 16 and withdrew 1,870.68 ETH (worth $5.7 million) from the Gemini cryptocurrency exchange to buy 6 million ONDO tokens at an average price of 0, 95 USD.
The entry price for this order is very attractive as some analysts believe that ONDO's reasonable price is in the range of 0.4-0.7 USD. With a significant investment beyond the expected scope, Lookonchain suspected the whale had an insider.
Someone created a new wallet 27 hours ago and withdrew 1,870.68 $ETH ($5.7M) from #Gemini .
Then he spent the 1,870 $ETH ($5.7M) to buy 6M $ONDO at an average price of $0.95 in the past 27 hours.
Does this guy know something that we don't? https://t.co/3ZQ6s6SnVM pic.twitter.com/G1udIF8Mhw
— Lookonchain (@lookonchain) May 17, 2024
This transaction attracted the attention of the crypto community and ONDO, the native token of Ondo Finance, skyrocketed 11% immediately after the purchase.
However, ONDO has dropped after the latest bounce and is trading below the $1 threshold at the time of writing. However, ONDO is still increasing by more than 19% over the past week.
Crypto analyst Mags commented on the price movement, sharing analysis on the next price target for ONDO.
“If the price closes above 1 USD, the next target will be 1.4 USD and 2.7 USD or more.”
$ONDO keeps printing up +131%
$1.5 Incoming, Binance listing soon 👀 https://t.co/bF8lznNDOP pic.twitter.com/5v95S4aZvn
— Mags (@thescalpingpro) March 25, 2024
Fantom (FTM), a once famous layer-1 blockchain, is receiving attention again ahead of an important upgrade called Sonic.
On the evening of May 17, the Fantom Foundation posted an important governance proposal, announcing to the community a new project called Sonic Network (S). Sonic Network is a new layer-1 blockchain developed by Fantom on the new Sonic technology platform, replacing Fantom's old Opera version.
https://x.com/FantomFDN/status/1791517798205907116
Once the Sonic Network is deployed, FTM holders will be able to redeem tokens 1:1 for the Sonic network currency called S. Those who do not want to redeem can still continue to hold FTM. However, the Fantom Foundation encourages users to migrate to the new network as all the attention and development effort of the project will be transferred here.
The rest of the proposal retains the changes that were mentioned in the Sonic upgrade announcement at the beginning of the year.
Both Fantom's FTM and TVL token prices have increased more than 30% in the last 7 days, the clearest signal that money is being poured back into the project.
Specifically, while the FTM price increased from 0.64 USD to 0.84 USD, the value locked (TVL) of Fantom increased to 200 million USD on May 16, before decreasing to 129 million USD at the time of writing. This is the highest TVL level that Fantom has achieved since July 2023, when the Multichain hack occurred, causing heavy damage to the ecosystem.
