Blockchain
Crypto fan tokens record up to 170% profit in 2023!
Over the last few years crypto has begun to integrate with sports through the introduction of crypto fan tokens. Purchasing these tokens allows fans to invest in their club and engage in different ways, including allowing fans to vote on decisions within the club and have access to certain exclusives. But are they profitable?
A new study by crypto tax experts CoinLedger has analysed the price action of these fan tokens over the course of 2023. Using the data they calculated how much money someone would be starting 2024 with if they invested $100 into each coin on January 1st 2023.
For context Bitcoin had a 155.18% increase in 2023 so $100 invested in Bitcoin on January 1st 2023 would have been $255.17 on the 1st of January 2024.
Top 5
#1 – $BFC – Bologna FC 1909
Bologna are an Italian football club that play in Serie A. They have won seven titles , two Coppa Italia titles and the Intertoto Cup. Bologna Fans are one of the few Italian sides that have access to a fan token, on the first of January 2023 the price of the token was $0.24, meaning $100 would have bought 415.63 tokens. The price on January 1st 2024 was $0.66, this means that the initial $100 would now be $273.48 an increase of 173.48%. This token outperformed Bitcoin by 18.3% in 2023.
PNL: 173.48%
#2 – $DSG – GNK Dinamo Zagreb
Dinamo Zagreb are currently third in the Croatian football league, although they won the league last season so fans may be hoping for more this season. However the $DSG token performance has been consistently positive in 2023. Its initial low price of $0.22 means that $100 would have bought you 461.89 tokens at the start of January 2023, which if sold on January 1st 2024 would have netted you $216.48 – a 116.49% increase.
PNL: 116.49%
#3 – $EFC – Everton
Everton have had a rocky start to the season, having to make up a 10 point deduction for breaches in Financial Fair Play. However, they have since had a run of good results and are fighting their way back up the table with manager Sean Dyche. The Everton fan token started 2023 at a price of $0.42 and on the 1st of January this figure was $0.91, an increase of 114.01%.
PNL: 114.01%
#4 – $AVL – Aston Villa
Aston Villa are one of the founding teams of the Premier League and also one of the first teams to launch a fan token, although it was met with mixed emotions. The price started at $0.63 so $100 would have bought 159.56 tokens. The market conditions lead to the price rising to $124. This would mean that fans who invested $100 would have cashed out $197.86 on January 1st 2024.
PNL: 97.86%
#5 – $LEG – Legia Warsaw
Legia Warsaw is the most successful club in Poland winning the most Ekstraklasa titles, 20 Polish Cups and 5 Polish Super Cup trophies. The fan token had a positive 2023 with the price rising from $0.25 to $0.41, which equates to a 62.22% increase in price. This means a $100 investment would be valued at $162.22 on January 1st 2024.
PNL: 62.22%
Bottom 5
#1– $RFT – Rangers
Scottish side Rangers have had the worst performing fan token in 2023 with a drop of -46.84%. On January 1st 2023 the price was $0.02 which would have bought 6329.11 tokens. This price plummeted to $0.008 which means the initial $100 would only be worth $53.16 at the start of 2024.
PNL: -46.84%
#2 – $PSG – Paris Saint Germain
French Side Paris Saint Germain have had the second biggest losses over 2023. The initial price was $5.42, the most valuable fan token on the market, however this dropped over 2023 to $3.28 which is a 39.46% drop meaning a $100 investment would only have been worth $60.53 on January 1st 2024.
PNL: -39.46%
#3 – $NAP – Napoli
S.S.C Napoli play in the topflight of Italian football, Serie A, which they have won twice. Their token $NAP was worth $3.94 in January 2023, which would have purchased 25.388 tokens. In January 2024, the price had dropped to $2.57, which means that the original $100 would now be worth $65.25.
PNL: -34.75%
#4 – $BAR – Barcelona
Barcelona are one of the biggest teams globally and have won a plethora of domestic and worldwide competitions making them one of the most decorated teams in history. The fan token; much like Barcelona’s current season, isn’t quite having the run that fans may expect. Starting 2023 at a price of $3.49, over the year the price fell to $2.29, which would have left an investment of $100 with only $65.54.
PNL: -34.46%
#5 – $LAZIO – Lazio
Rome-based Lazio, who play in Serie A, currently sit fifth in the league. The $LAZIO token was worth $2.97 on January 1st 2023. This would have bought fans 33.69 tokens with their $100. The price, however, dropped to $1.96, meaning fans would have only $66.03 left of their initial investment.
PNL: -33.97%
A spokesperson from CoinLedger commented: “Crypto is quickly seeping into many parts of society. Its integration with sports teams has been met with a plethora of views. Proponents highlight the engagement and interaction that these technologies allow fans to have with their favourite teams, and say it gives an increased sense of loyalty and community, however like any investment there are risk factors.
“Over the last few years, there have been volatile market conditions and many investors have lost money. Therefore it’s important to never invest what you can’t afford and to do your own in-depth research before you invest”
The post Crypto fan tokens record up to 170% profit in 2023! appeared first on HIPTHER Alerts.
A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.
A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
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The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone initiative, aimed at combating “patent trolls” in the crypto industry. Patent trolls, or non-practicing entities (NPEs), are known for exploiting patent rights through litigation rather than developing new technologies. COPA and Unified Patents aim to prevent such entities from hindering blockchain innovation by making costly and baseless patent assertions.
The initiative is designed to safeguard blockchain and related technologies from these unwarranted patent claims, fostering an environment where developers and companies can innovate freely without fear of legal threats. Key figures in the partnership, such as Paul Grewal from Coinbase and Steve Lee from Spiral, emphasize that patent trolls create significant barriers to technological progress, especially in the fast-evolving crypto space.
By aligning with over 300 companies through Unified Patents, COPA’s effort strengthens its mission to protect the blockchain community and the broader crypto-economy from the disruptive impact of NPEs, ensuring that blockchain innovation remains open and accessible.
Source: news.bitcoin.com
The post COPA, Unified Patents Partner to Fight Crypto Patent Trolls appeared first on HIPTHER Alerts.
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