World Cup Match Reflected on Crypto Coins: Altcoin Price Sudden Drop!

The shock defeat of Argentina against Saudi Arabia today was heard all over the world and cryptocurrency and altcoin reflected in the market.

Lost to Saudi Arabia, Argentina’s Altcoin Falls

Argentine fan token offered through partnership with Socios (ARG) lost 23% in the last day. Before kickoff of Argentina’s FIFA World Cup debut, the token was trading at around $7.20.

However, after the surprise defeat of Lionel Messi and his team, the token fell 30% to $4.96. Altcoin was trading at $5.29 at the time of this writing.

Argentina, along with Portugal, are one of only two international teams to offer fan tokens. Portugal’s altcoin fell 0.7% today as Cristiano Ronaldo’s team prepares to play Ghana in the opening fixture on Thursday.

last week, Chiliz blockchain seemed to be profiting from the upcoming FIFA World Cup. The native coin of Chiliz, the hub of Socios and sports fan tokens, rose last week ahead of the World Cup.

As the Argentines healed, NFT investors were busy making bids for the Saudis’ NFT collection. The Saudi’s NFT collection, which is not affiliated with the Saudi Arabian government, experienced a spike in its base price after the match.

The base price, which is the cost of the cheapest item in the collection, has increased by 2.8% in the last 24 hours. Meanwhile, trading volumes increased by over 2,100% over the same period, according to Nansen’s analysis.

Someone immediately launched Saudi Arabian-themed assets on BNB Chain; however, they have nothing to do with the country’s local football association and should not be considered an official fan token.

*Not investment advice.