ARG Token Soars as Argentina Advances to Copa America Final

The Argentina Football Association’s ARG token has become the largest soccer fan token by trading volume, according to CoinMarketCap.

Argentina’s victory over Canada in the Copa America semi-finals has brought joy to ARG token holders. The token has seen a trading volume exceeding $20 million in the past 24 hours.

On Tuesday, defending champions Argentina secured a spot in the Copa America finals, more than doubling the market value of their fan token, ARG. Data from CoinMarketCap shows that the token’s price surged 107% to $2.32 following the team’s 2-0 victory over Canada. This marks its highest level since May 30, with a 70% increase in just the past 24 hours. The market value of the ARG token has soared to $27.85 million, making it the second-highest among soccer fan tokens, though still below the record $32.4 million reached before the 2022 Qatar World Cup, which Argentina also won.

The ARG token is the most heavily traded among soccer fan tokens, with a 24-hour trading volume of $23.57 million. This is nearly four times higher than the trading volume of the Paris Saint-Germain fan token, which leads in market value. The ARG-Turkish lira (ARG/TRY) pair listed on the centralized exchange Paribu accounted for 88% of the total volume in the past 24 hours, while the ARG-chiliz token (ARG/CHZ) pair on Chiliz.net contributed just 0.17% of global activity.

Chiliz.net is the trading platform for sports and entertainment tokens partnered with Chiliz ($CHZ) and Socios.com. The Argentine Football Association partnered with Socios.com, a fan-engagement platform powered by the Chiliz blockchain, to issue the ARG token in 2021. Token holders can access unique team activities, experiences, and VIP services, including meeting the team’s players and visiting the Estadio Monumental, a historic football stadium in Buenos Aires.

Fan tokens represent the intersection of blockchain and sports, allowing market participants to gauge and price the financial and economic impact of major sporting events. The recent surge in ARG token value underscores this dynamic, highlighting the significant role of blockchain in enhancing fan engagement and participation in sports.