ARG Fan Token Soars by 107% as Argentina Enters Copa America Final

Argentina’s advancement to the Copa America final not only secured their place in the tournament’s final, but also triggered a significant boost in their associated digital asset. The Argentina Football Association’s fan token, ARG, has experienced a surge in value. 

According to data from CoinMarketCap, the ARG token’s value has more than doubled. It rose by 200% to reach $2.32 – its highest level since May 30.

In the past 24 hours alone, the token has seen a 33% increase. This surge has propelled ARG’s market capitalization to $27.85 million, making it the second-highest among soccer fan tokens. However, it still falls short of its record $32.4 million valuation achieved during the 2022 Qatar World Cup.

ARG Trading Volume Soars as Fans Rally Behind Argentine Success

The ARG token has also become the most actively traded fan token in the cryptocurrency market. Its 24-hour trading volume stands at an $23.57 million. This is nearly four times that of the Paris Saint-Germain fan token, which holds the title of the largest soccer token by market value. ARG is not alone, as almost all top soccer tokens surged in value.

Interestingly, the ARG-Turkish lira (ARG/TRY) pair listed on the centralized exchange Paribu dominated trading activity. This accounted for 88% of the total volume in the past 24 hours. In contrast, the ARG-chiliz token (ARG/CHZ) pair on Chiliz.net contributed a mere 0.17% of global activity.

The ARG token, launched in 2021 through a partnership between the Argentine Football Association and Socios.com, offers holders unique benefits. These include access to team activities, VIP services, and opportunities to meet players and visit the Estadio Monumental in Buenos Aires.

Rapper Drake Lost $300k worth of Bitcoin in Bet

Following the national team’s advancement to the Copa America final, Canadian rapper Drake lost a substantial Bitcoin bet on the match. Drake had wagered $300,000 in Bitcoin on Canada defeating Argentina 2-1. A win for Canada would have resulted in a $2,880,000 payout. Following Argentina’s victory and ARG token value, the Argentine Football Association’s social media accounts playfully taunted the rapper, referencing Kendrick Lamar’s diss track ‘Not Like Us.’

This loss adds to Drake’s history of unsuccessful sports bets, contributing to the notion of a ‘Drake Curse’ among fans and the crypto community. However, it’s worth noting that the rapper has also profited from crypto bets in the past, including a $1.15 million Bitcoin win on this year’s Super Bowl.

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