Why is Valencia CF Fan Token (VCF) crypto gaining traction?

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 Why is Valencia CF Fan Token (VCF) crypto gaining traction?
Image source: © Kislez | Megapixl.com

Highlights:

  • Valencia CF Fan Token is a digital currency that operates on the Chiliz platform.
  • It is available on exchanges like Paribu and Chiliz.
  • It returned gains of over 311% in the last 30 days.

The Valencia CF Fan Token (VCF), which aims to build a loyal fan following for one of Europe’s most famous football clubs Valencia FC, surged more than 125% on Monday morning. Its trading volume skyrocketed by over 7151% in the trailing 24 hours to 8:59 am ET.

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What is Valencia CF Fan Token (VCF) token and why is it rising?

Valencia CF Fan Token is a cryptocurrency that operates on the Chiliz platform. It is the fan token of one of the Spanish league’s most famous football clubs, Valencia FC.

Generally, Fan tokens don't always provide a strong return or great economic benefits. But they aim to build loyalty among a team's followers.

For instance, the VCF holders have recently voted on what phrase the Valencia FC captain should have in his armband. They decided to go with "Per tu, per tots, Valencia a la victoria", meaning "For you, for everyone, Valencia to victory".

All You Need To Know About Valencia CF Fan Token (VCF) Crypto

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Valencia FC will play against Real Betis in the final of Copa del Ray on Saturday, April 23. Chiliz’s portal Socios.com has launched a lottery to reward the winners with two VIP tickets to the match. To participate in the raffle game, one should be a VCF token holder. This development may have triggered the VCF’s price rally.

Valencia FC hasn't won the title since 2018, although it won the cup eight times earlier.

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Valencia CF Fan Token (VCF) price and performanceSource: *data provided by CoinMarketCap.com

Bottom line:

The VCF token was priced at US$4.33 at 9:13 am ET on April 11, up 125.09%, while its one-day volume rocketed 7151.89% to US$49.58 million. It has a market cap of US$10.77 million, and its fully-diluted market cap is US$42.72 million.

The token has a total supply of 10 million and its current circulating supply of 2.48 million. It reached its all-time high of US$4.93 on April 10, 2022.

VCF returned 311.53% gains in the last 30 days. Notably, the token crossed the US$4 mark only in the first days of its release, and since then, it has crossed the mark for the first time in April. It is available on exchanges like Paribu and Chiliz.

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