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Fan Tokens Surge Following Tether’s Juventus FC Investment
JUV rose 200%, with tokens like LAZIO and PORTO also experiencing significant price jumps.
What to know:
- Tether’s investment in Juventus FC led to a significant price surge in Juventus’ fan token (JUV) and other soccer club fan tokens.
- JUV token price increased by over 200% initially and is still up more than 120% in the last 24 hours.
- Other soccer club fan tokens, including S.S Lazio (LAZIO) and FC Porto (PORTO), saw double-digit percentage gains.
Leading stablecoin issuer Tether announced earlier today it has invested in Italian football club Juventus FC, leading to a massive price rise not only for the club’s crypto fan token JUV, but also for other crypto fan tokens.
The price of Juventus Fan Token surged more than 200% before seeing a correction that brought the gain back to about 120% over the past 24 hours.
STORY CONTINUES BELOW
The announcement moved the prices of several other fan tokens, with the S.S Lazio Fan token (LAZIO) jumping 11%. Similarly, the FC Porto fan token (PORTO) is up more than 10% for the day.
The Tottenham Hotspur fan token, the Paris Saint-Germain fan token, and the Napoli fan token — all tokens associated with European soccer clubs — are also among those posting gains following the news.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
