In a reaction that perplexed many cryptocurrency traders, the price of the Argentina Football Association Fan Token (ARG) has been battered in wake of Argentina’s historic triumph in the FIFA World Cup final on Sunday. At one point, it had dropped over 50% in a matter of hours. Iconic Argentinian footballer Lionel Messi, widely regarded as one of, if not the best footballer of all time, led his side to victory in a thrilling final that was ultimately decided on penalties.
ARG/USD was last changing hands around $3.20, having dumped from around $6.0 prior to the world cup final. The token is for now finding support in the form of recent lows in the $2.60 area.
What is the ARG Token and Why Did it Dump?
ARG, a token issued via Socios.com’s consumer-facing platform that offers its owners an enhanced fan relationship with the Argentinian team, as well as tokenized influence on the Argentinian FA’s decisions, had previously rallied on key time victories, such as the semi-final win over Croatia. Meanwhile, ARG had slumped earlier in the tournament on Argentina’s shock defeat to Saudi Arabia.
Traders were thus at a loss as to why the token would come under so much selling pressure in wake of Argentina’s first world cup final victory since 1986. Perhaps the token’s price had been artificially pumped by speculators in the run-up to the final, and now that Argentina has won, perhaps those speculators are keen to dump their tokens on Argentina fans. The problem is that, amid Argentina’s severe ongoing economic woes and hyperinflation, the majority of the country’s fans probably don’t have much spare cash to be throwing around on speculative assets like the ARG token.
Price Prediction – Where Next for ARG?
It is incredibly difficult to predict what is next for the ARG token, given its highly volatile history and unpredictability, even in its reaction to Argentina national football team results. No doubt, the massive global profile of the Argentine national team, which has only gone up in wake of their latest world cup win, should continue to infuse the token with some value in the long term.
ARG is seen ending the year more than 100% higher at $6.65, according to 52 votes in a survey conducted on CoinMarketCap. Indeed, the strong manner in which the blockchain-based fan token has found support on Monday suggests that a rebound might be possible. But traders should be wary that it may be difficult for ARG to get back above its 21 and 50-Day Moving Averages in the $3.70 and $5.20 areas respectively.
Altcoins Offering Quicker Returns
Cryptocurrencies have been trading sideways for a few weeks now, leading some traders to start looking at alternatives with more potential in the short term. Listed below are some of the leading presales in the market, allowing investors to get in on the ground floor.
FightOut (FGHT) – Presale Launches
FightOut, a brand-new move-to-earn (M2E) fitness application and gym chain that seeks to bring the fitness lifestyle into web3, has opened its pre-sale and investors think the project could transform the existing web3 M2E landscape. While existing M2E applications such as StepN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part.
FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised over $2.15 million in just a few days. FGHT is the token that will power the FightOut crypto ecosystem.
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Dash 2 Trade (D2T) – Presale Enters Final Stage
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.
Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $10.18 million. The pre-sale dashboard is going to be released soon, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in around one month.
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Calvaria (RIA) – Final Presale Stage Now
Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.
Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.49 million, with a crypto whale scooping up $97.5K in one purchase last week. The presale is in the final stage, with only 20% of tokens left.
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