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Highlights
- Santos FC Fan Token is a form of cryptocurrency which operates on the Binance Smart Chain.
- On Wednesday, Santos Fan token had seen a massive rally of more than 1,300%, which saw its price reach US$35 following its Binance listing.
- But the token dipped quite drastically and was trading at US $9.87 with a 24-hour trading volume of US $208,023,144, according to CoinMarketCap.
Today, sports stars and leading teams and clubs are turning to cryptos and crypto exchanges to connect with fans more meaningfully. Fan tokens are another form of popular cryptocurrency, which is grabbing headlines form of late. Exchanges such as FTX, Crypto.com, Binance logos are prominently seen on the jerseys of leading football clubs nowadays.
Several football clubs, particularly, are making the most of it. For example, Manchester City Fan token is one of the popular crypto tokens, which had recently seen a massive rally during the second week of November.
Santos Fan token is another popular crypto, which is in the news for its reach and demand in the market. On Wednesday, the token had seen a massive rally of more than 1,300%, which saw its price reach US$35 at one point of time following its Binance listing. The Brazilian fan token was listed on the Binance Launchpool on XXXX, wherein the users could stake their BNBs or BUDs and earn every 60 minutes without any transaction cost.
But the interest soon fizzled out. On Thursday, 2 December, the price dropped by 57%. The reason for such a drastic drop is still unknown. But the rally was significant it terms of its popularity within the market.
All about Santos Fan token
Santos FC Fan Token is a token of Brazilian football club Santos FC. Operating on Binance Smart Chain, the token aims to give the fans a unique experience while interacting with the club. The token would allow the holders to participate in team voting rights and collect digital collectibles, NFTs and rewards.
Leveraging the fan token on Binance would give them a big impetus and reach to reach a broader set of audiences, providing an exciting and revolutionary way to associate with their football club. Besides, the stakeholders will be eligible for benefits such as voting on kit colours and rewards like fan badges.
SANTOS’s performance
According to CoinMarketCap, the SANTOS has dipped quite drastically from yesterday’s high of US$35 and was trading at US $9.87 with a 24-hour trading volume of US $208,023,144. At the time of writing (BST 10:30 pm), SANTOS has a fully diluted market cap of US $307,341,771 with a maximum supply of 30,000,000 SANTOS coins.
With the flurry of fan tokens emerging, the investors today are spoilt for choices. Santos Fan token adds to a long list of it, including PSG, BAR, CITY, ATM, etc. Going by the trend, the fan tokens market will only expand in the future, and it could very well create a niche for itself, just like NFTs. Experts are bullish on them, and Santos does offer a unique platform for investors. Plus, with Binance making its presence felt in Latin America, it will only be a matter of time before other big players jump on to join the bandwagon.
