Fan token market value has fallen 13% since Euro 2024 kicked off

Odaily News The 2024 European Football Championship kicks off on June 15, and on the surface, one might think that football-related cryptocurrency tokens, especially those related to football, would perform very well in this quadrennial event. However, the reality is quite the opposite. The Block’s Sports Token Index, which tracks the performance of fan tokens of prominent European football teams, is one of the worst performing asset baskets on the market this week. The index has fallen sharply since the tournament began on June 15, and the cumulative market value of these tokens has fallen by about 12.8% at the time of publication. During the same period, the price of Bitcoin has fallen by 3%, while the price of Ethereum has risen by about 1%. (The Block)