Fan token market value has fallen 13% since Euro 2024 kicked off
The European Football Championship will kick off on June 15, 2024. On the surface, people may think that football-related cryptocurrency tokens, especially those related to football, will perform very well in this annual event. However, the reality is quite the opposite. The Block's Sports Token Index, which tracks the performance of fan tokens of famous European football teams, is one of the worst-performing asset baskets in the market this week. Since the start of the championship on June 15, the index has fallen sharply, and as of publication, the cumulative market value of these tokens has fallen by about 12.8%. During the same period, the price of Bitcoin fell by 3%, while the price of Ethereum rose by about 1%.
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