After the initial response to Paris Saint-Germain's historic Champions League victory has settled, the club's official fan token (PSG) is finally showing signs of life.
As of June 2nd, PSG tokens are trading at $2.21. coinmarketcap data. Spike follows the short dip post final when the club won its first UCL title but the tokens were unable to move meaningfully.
In Intray High, PSG touched $2.36 and then slightly pushed the token's market capitalization from $18.2 million to over $20 million, regaining the level lost in the days leading up to the final. Interestingly, trading volume fell 15.7% to $35.27 million, indicating that price movements are likely less, but driven by more decisive buyers.
Paris Saint-Germain's Fan Token Price Action UCL Final
For the days before the match, the token reached $2.79 amid a fan's speculation and bullish sentiment. However, after the victory, the tokens inexplicably slipped past 20% in the leading Crypto analysts for a week DevChart (200k followers on x) Post:
“Both, PSG finally won the Champions League and the fan tokens didn't move?”
That sentiment echoed widely among traders, expecting a kind of sustained gathering that usually follows the outcomes of major sports. However, the delayed response of tokens may reflect a more broader disillusionment about the usefulness of fan tokens, or a simple case of “selling news” after expectations have already been priced.
Still, today's bounce shows that PSG's crypto assets may still be worth it. The club is especially in the global spotlight, which could further encourage fan engagement.
Featured Images via ShutterStock
