The 2024 European Championship, hosted by Germany, will kick off on June 14 (Friday) and the final will be held on July 14 (Sunday).

The European Cup is definitely a relatively important event for sports fan coins.

Crypto investors may not know much about the European Cup. In short, it is a football match between European countries. Currently, most of the fan coins in the cryptocurrency circle represent well-known football clubs.

However, the impact of the European Cup on fan tokens may not be significant, as most fan tokens are more focused on club-level football activities.

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In addition, the America’s Cup will be held in the United States from June 20 to July 14 this year, which will also be an important event affecting the fan token market.

Looking back at history, the price movements of fan tokens are usually correlated with major sporting events. For example, how will CHZ, the leader in the fan token space, perform during the 22nd FIFA World Cup, which will be held from November 20 to December 18, 2022?

As a public chain focusing on sports, CHZ attempts to connect the sports and entertainment industries by introducing Web3 technology to build fan tokens, NFTs and other products for them.

According to the chart, CHZ experienced four increases before the start of the World Cup, until the price hit the high point of the round the day before the game. However, once the game started, the price of CHZ fell almost all the way without any increase.

This observation verifies the scientific truth that "all good news turns into bad news", that is, the market often begins to adjust in the opposite direction before the expected climax arrives.

As for the performance of other fan tokens, although there have been ups and downs, without exception, after the World Cup, both CHZ and other football fan tokens have entered a long-term downward trend.

The European Cup and America's Cup have begun. Will it be different this time?

Let’s first take a look at the current price trend of CHZ.

This time, CHZ also started to rise in advance, reaching the high point of this round of rise on May 30, and then fell back.

Judging from the current trend, CHZ does not have an independent market trend, and its price basically follows the market.

From the data, CHZ has a market value of $1.04 billion, ranking 88th, which means it is large and heavy. But CHZ tokens are currently fully circulated.

Regarding CHZ’s current data performance, the editor used the AI ​​product Scopechat, which gave a neutral score of 48 points.

In addition, there are some data showing that in the past 7 days, other Layer 1 narrative projects except CHZ have grown by an average of 6.7%, while CHZ's growth rate is -18.47%, showing that its recent price performance is relatively weak. At present, the price of the CHZ token is between the middle and lower tracks of the technical indicator Bollinger Bands, indicating that the market performance is relatively weak. The middle track of the Bollinger Bands may become a resistance level, and the lower track may be a short-term downward target. In addition, the RSI indicator shows 74, which is a neutral state, and there is no obvious overbought or oversold signal for the time being.

I have personally observed that the current social media attention to fan tokens and the European Cup and the America's Cup is not high. This may be related to the weak overall market performance of fan tokens. However, according to historical experience, once the price rises for three consecutive days, the entire market may usher in a hot situation.

In addition to CHZ, what other fan tokens are there? We have sorted them out as follows:

The following three coins are jokingly called the Binance Three Musketeers

LAZIO, the fan token of Lazio, has a market value of $18.25 million, ranks 927th, and can be traded on Binance. It is currently falling, and there is no doubt about it.

SANTOS, the Santos fan token, has a market cap of $25.1 million, ranks 823, and can be traded on Binance. The coin is also in a continuous decline.

PORTO, the fan token of Porto, has a market value of $17.92 million and ranks 937th in market value. It can be traded on Binance. It has also been falling recently.

The following are the Fan Tokens that can be traded on Binance

BAR, the fan token of FC Barcelona, ​​has a market value of $23.82 million, ranks 831, and can be traded on Binance. The coin has been falling recently and almost hit its historical low.

PSG, the fan token of Paris Saint-Germain Football Club, has a market value of $25.08 million, ranks 824th, and can be traded on Binance. The coin has also been falling and is close to its historical low.

CITY, Manchester City fan token, market value of $20.38 million, market value ranking 891, can be traded on Binance. It keeps falling. The coin can also be traded on OKX, perhaps because OKX is its brand sponsor...

JUV, Juventus fan token, market value $14.93 million, market value ranking 997, available for trading on Binance. Continued decline.

ATM, Atletico Madrid fan token, market value of US$13.7 million, market value ranking 1031, can be traded on Binance, continues to fall.

ASR, the Roman fan token, has a market value of $5.36 million, ranks 1370th in market value, and can be traded on Binance. It continues to fall.

The following are jokingly called the OKX Three Musketeers

ARG, the Argentine Football Association Fan Token, is currently trading on OKX with a market cap of $5.65 million and ranks 1741st. Its price has tripled in the recent bull run, although it has recently pulled back. This type of non-club fan token is not common in the market, and its price is expected to fluctuate with the performance of the Argentine national team during the Copa America.

POR is the fan token of the Portuguese national team, with a market value of $9.42 million, and can also be traded on OKX. It has experienced a more than 10-fold increase this year and is currently in a correction phase. During the European Cup, the price of this token will also be directly affected by the performance of the Portuguese team.

MENGO, the fan token of Brazilian football club Flamengo, has a market cap of $14.47 million and is also traded on OKX. The token has been performing poorly in recent years.

In addition, there are other fan tokens on OKX, such as the Turkish professional football club token TRA, with a market value of $8.41 million, and the Turkish Istanbul club token GALFT, with a market value of $17.57 million. Although these two tokens are relatively niche, their presence on the platform is still noticeable.

Summarize:

1. CHZ has the greatest influence on the masses and is the undisputed leader.

2. National team fan tokens are more suitable for hype during the European Cup and the America's Cup, namely Argentina ARG and Portugal POR.