Fan tokens are a new type of cryptocurrency that allows fans to participate in various aspects of their favorite sports clubs, such as voting, rewards, merchandise, and exclusive experiences.
Sports clubs issue fan tokens through platforms like Socios.com and Chiliz, and they can be traded on crypto exchanges like any other digital asset.
Many fan tokens are available in the crypto market, but some may offer more potential for quick gains than others. Based on the current market cap, popularity, and performance of fan tokens as of May 25, 2023, here are some possible candidates for the top 3 fan tokens to invest in for quick gains:
These 3 fan tokens can deliver quick gains in near future due to the associated team’s performance.
Manchester City Fan Token (CITY):
This is the fan token of Manchester City, the English Premier League champions and one of the most successful football clubs in the world. CITY token holders can vote on club decisions, access exclusive content, rewards, and experiences, and interact with other fans on the Socios app.
CITY token has a market cap of $34 million and a price of $5.6. CITY’s price can surge due to the club’s impressive performance in domestic and international competitions and its large and loyal fan base worldwide.
The club can potentially win a treble of trophies, including the Premier League, the FA Cup, and the UEFA Champions League. This would make manchester city only the second english club to achieve this unique feat.
Let’s look at the chart for current trend analysis:
On H4 timeframe level the price action of $CITY formed out Triple Bottom pattern level where the price action is currently respecting out Daily Horizontal Support level marked between the $5.49 to $5.14 level.
Although all the EMA shows the resistance level
AS Roma Fan Token (ASR):
This is the fan token of AS Roma, the Italian Serie A club and one of the most popular teams in Europe. ASR token holders can vote on club matters, access exclusive content, rewards, and experiences, and interact with other fans on the Socios app.
ASR token has a market cap of $7.1 million and a price of $3.11. ASR price can surge due to the club’s recent improvement under new coach Jose Mourinho and its potential qualification for the UEFA Champions League next season.
AS Roma has also reached the final of the UEFA Europa League.
Let’s look at the chart for current trend analysis:
On H1 timeframe level the price action of ASR Formed out Descending Triangle pattern level where the price action bouncing back within the Resistance Trendline and Horizontal Support level.
As well as the EMAs are flipping into the Support level
Paris Saint-Germain Fan Token (PSG):
This is the fan token of Paris Saint-Germain, the French Ligue 1 champions and one of the world’s most glamorous and wealthy clubs. PSG token holders can vote on club decisions, access exclusive content, rewards, and experiences, and interact with other fans on the Socios app.
PSG token has a market cap of $20.5 million and a price of $4.24 . PSG’s price can surge due to the club’s star-studded squad, including Lionel Messi, Neymar, and Kylian Mbappe appointing a new star manager and winning the league.
The club will almost certainly win the French Ligue 1 title, and this should be good for giving the token a push.
Let’s look at the chart for current trend analysis:
On Daily timeframe level the price action of $PSG Formed out Descending Triangle pattern level where the price action broke down the Horizontal Support level marked between the $5.48 to $4.92 level. All the EMAs turned into the resistance level
Final Verdict on Fan Tokens
These are some possible fan tokens to invest in for quick gains, but they are not guaranteed to perform well or offer high returns. In addition, investing in fan tokens involves risks and uncertainties, depending on factors such as market conditions, club performance, fan engagement, and competition. Therefore, investors should research and analyze before buying any fan tokens or other cryptocurrencies.
Also read, 10 Best FREE Trading Indicators for Traders
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