With the Tuesday’s defeat of the Argentine National Team against Saudi Arabiafor the first date of the initial round of Group C, the football panoramas were completely disrupted, and That also carried over to the realm of betting.
For this reason, during the game that Arabia won 2-1, the AFA Fan Token dropped from US$7.22 to US$4.99 per unit. This involved a drop of more than 20% in the cryptocurrency pricedata revealed by the agency Bloomberg.
Free fall of the AFA Fan Token?
What happened this Tuesday, although it was an unexpected blow, was part of a trend that had already been taking place since last Sunday, despite the fact that Argentina had not made its debut in the World Cup. This pattern was repeated with other renowned teams, such as Brazil, Portugal and Spain.
Already this Monday, the AFA Fan Token had fallen by 10%. With the unexpected defeat, it went down to 30%.
Slight recovery of the AFA Fan Token
After touching a worrisome floor, the AFA Fan Token recovered ground, reaching close to US$5.3As reported CoinMarketCap.
By January of this year, the AFA had announced an agreement with Binance, becoming the main sponsor of the Albiceleste.
This caused discomfort to the creative platform Socios.com, which also owns the rights to the fan tokens. After twists and turns, they reached an agreement and extended the agreement with Socios.com: “It will be the exclusive provider of the official fan token of the National Team until 2026.”