In the forecast for 2024, a surge in the cryptocurrency market is expected, marked by the introduction of various significant projects hosting airdrop events and the Securities and Exchange Commission’s (SEC) evaluation of the Bitcoin Spot ETF. Furthermore, the collective anticipation is centered around the upcoming Bitcoin Halving event.
Within this landscape, Fan Tokens emerge as a noteworthy element that demands attention. Let’s delve into the reasons why without delay!
Fan Tokens are specialized digital assets tied to specific sports teams, notably in football, designed for interactive fan engagement on platforms like Socios.com. Examples include PSG, BAR, CITY, JUV, and ACM, representing respective clubs.
Fueled by Chiliz token (CHZ), fans can buy, sell, and engage with teams, offering a novel way to express loyalty. Apart from fan interaction, these tokens provide potential revenue for clubs.
Unlike non-fungible tokens (NFTs), Fan Tokens are fungible and can be exchanged for other tokens or services. To acquire Fan Tokens, one needs Chiliz token (CHZ), obtainable on platforms like Socios.com or supporting crypto exchanges.
Will Fan Tokens Price Increase?
The value of Fan Tokens is intricately linked to factors such as the team’s popularity, on-field performance, and overall engagement of its fan base.
Moreover, what can significantly enhance the value of these football tokens more than major football events? Exactly, that’s accurate. The primary foundation for anticipating substantial growth in the near future lies in the imminent arrival of the continent’s premier football event – Euro 2024.
The period during the 2022 World Cup witnessed a notable surge in the growth of Fan Tokens. Therefore, there is even more compelling evidence to believe in the potential appreciation of these tokens, given that Euro 2024 is scheduled for June this year.
In addition, it seems that the Chiliz team has meticulously prepared for a significant push during the Euro 2024 period. Consequently, they have introduced Chiliz 2.0 to better support upcoming events.
In collaboration with Socios.com, Chiliz has evolved into a robust ecosystem with its own blockchain, native token, dedicated exchange, and applications from Socios.com.
Which Tokens to Keep on Your List?
Before making predictions about the potential price catalysts in the upcoming season, we want to emphasize that these are purely subjective observations based on the information available to us from the past and present.
However, the crypto market is highly volatile, and there is no guarantee that these predictions will be accurate. Therefore, please view these observations as reference only, and thorough research is essential before making any investment decisions in any field.
Currently, there are 13 Fan Tokens listed on the Binance exchange, with the market caps of these tokens mostly fluctuating between 10 to 30 million dollars, except for CHZ, which boasts a market cap of over 850 million dollars. Four standout names deserve our attention.
Chiliz (CHZ) is arguably the most predictable token on this list and can be considered a relatively safe choice.
CHZ is currently showing positive signs, with recent price tests indicating optimism. The price of CHZ plays a crucial role in determining the value of other Fan Tokens. Therefore, if you are looking to explore and invest in Fan Tokens, CHZ could be deemed the safest choice.
After the price surge during the 2022 Fan Token season, it can be observed that the price of CHZ will be a prerequisite factor influencing the prices of other Fan Tokens. If CHZ rises, others will follow suit and vice versa. However, CHZ is expected to have the least significant price increase among these tokens.
Therefore, you may consider these three names:
The selection of these three names is based on their performance during the previous Fan Token season, where they, along with CHZ, emerged as leaders. Additionally, these tokens have exhibited price increase signals alongside CHZ in recent price testing periods.
Crypto investment is inherently high-risk, high-reward, but there are ways to mitigate some of the risks. The mentioned three tokens, alongside CHZ, led the previous Fan Token season and have a history of significant liquidity and trading volume, providing a sense of reassurance when investing in these tokens.
How to manage Chiliz Token with KEYRING PRO Wallet?
For Fan Tokens in particular and Cryptocurrency in general, safeguarding digital assets with a reliable electronic wallet is crucial. An electronic wallet ensures the security of your crypto assets and serves as a gateway to connect with multiple cryptocurrencies in the market.
Introducing KEYRING PRO Wallet, the perfect crypto wallet for you. Launched in 2021, KEYRING PRO Wallet has gained significant success and the trust of many crypto users.
KEYRING PRO Wallet allows you to access over 1000 different tokens in the market and facilitates direct asset exchanges with KEYRING Exchange. Coupled with a user-friendly interface, it promises to provide you with the best user experience.