ARG token value soars as Argentina advances to Copa America final

Argentina’s entry into the Copa America final has almost doubled the market value of the country’s fan token, ARG.

The token’s price has increased by over 65% in the last 24 hours, making it the second-largest football coin by market value.

ARG token rises over 65%

According to CoinGecko data, the price of the ARG token has increased by 98.8% in the past week, reaching its highest level since May 30 at $2.34. At the time of writing, the token was trading at $2.34 and was up 67.8%, driven by excitement surrounding Argentina’s performance at the Copa America.

This increase in value has made ARG the most traded fan token on the market. Its daily trading volume has increased by 578.50%, reaching $23.8 million. This figure is almost four times higher than that of the Paris Saint-Germain fan token, which holds the title of the largest football token by market value.

However, it is still below the record value of $32.4 million achieved ahead of the 2022 FIFA World Cup in Qatar, which Argentina also won, and during that tournament the token reached its all-time high of $9.1 million.

Meanwhile, the Spanish national football team fan token (SNFT) also saw a 10% increase in value following Spain’s victory over France at the European Championship. On Tuesday, Spain’s 2-1 victory caused the price of SNFT to rise from $0.023 to $0.026.

Launched in 2021, the ARG token was issued by the Argentine Football Federation through Socios.com, a fan engagement platform built on the Chiliz blockchain. Chiliz.net serves as the primary trading platform for sports and entertainment tokens and is a partner of Chiliz ($CHZ) and Socios.com.

Holders of the ARG token will gain access to various exclusive team activities, experiences and VIP services, including the opportunity to meet the team’s players and gain access to the Estadio Monumental, a historic football stadium in Buenos Aires, Argentina.

Drake loses $300,000 Bitcoin bet

On Monday, Drake revealed on Instagram that he had bet against the Argentine national soccer team. Before the game, the rapper bet $300,000 in Bitcoin and predicted that the Canadian national soccer team would defeat the world champions 2-1.

Drake playfully taunted the Argentine fans, saying, “Messi could get that.” Had he won, the Canadian rapper would have received a Bitcoin payout of $2,880,000.

However, Drake’s bet did not pay off as Argentina knocked Canada out of the Copa America. Following the win, the Argentine Football Federation’s social media accounts jokingly attacked the rapper, referencing Kendrick Lamar’s diss track “Not Like Us.”