Argentina’s shocking loss to Saudi Arabia in the 2022 World Cup also affected projects in the cryptocurrency market.
The Argentine soccer team’s fan token, ARG, offered through a partnership with Socios, is down 23% at $7.20 on 11/21, despite a frenzy of rotation. Argentina and Saudi Arabia in the 2022 World Cup.
However, an earthquake occurred and the legendary Messi and his teammates completely collapsed in front of the brave Saudi Arabia, and the final result was 2-1 in favor of the country of the Thousand and One Nights.
Sadly, the ARG token, which the Argentine team community had high hopes for, also plummeted after that, falling more than 30% to a low of $4.96 before recovering to a trading price of $5.36.
In addition, Socios’ “pet” Chiliz (CHZ) also had to accept a similarly heavy sell-off. Since creating a “crazy” wave before the 2022 World Cup, mainly thanks to the momentum from the community, the ambition of Chiliz Chain 2.0 (CC2) – the project’s new layer 1 blockchain and more personnel to develop the company, CHZ seems to have been a little “out of breath” when the most attractive sporting event on the planet officially kicked off.
Similar to ARG, after quickly establishing a high of $0.27 in just a week or so, CHZ also fell just as quickly, hitting a low of $0.1675 within four trading days.
While Argentines try to forget their wounds, NFT investors are busy getting into Saudi NFTs—a collection of NFTs that has nothing to do with the Saudi government. According to Nansen analysis, the average NFT reserve price has risen by 35% in the last 24 hours. At the same time, trading volume has soared by more than 700%.
The token POR recorded a small increase today, signaling a strong signal of support from the fan base for Portugal’s opening match against Ghana on November 24. However, when it comes to investing, traders should be cautious before making a decision, as the price movement of fan tokens like ARG or POR depends heavily on the team’s match results.
