Cryptocurrencies made a negative start to May. While many crypto assets closed the fifth week in a row with losses, the leading cryptocurrency Bitcoin tested the levels of $37,000 in this process. In the same period, it was observed that volatility increased in fan token projects.
What time is Real Madrid v Manchester City?
In the fan token ecosystem, all eyes were turned to Manchester City Fan Token (CITY). Manchester City, one of the most successful football clubs of recent years, will play a very critical match in Madrid in the evening.
Man City will try to reach the final with the advantage of the home score in this Champions League semi-final second match, which they will play against Real Madrid. The match will start at 19:00 UTC at the Santiago Bernabeu Stadium.
The first match was played last week and City left the match with an advantageous score of 4-3. If Manchester City wins this match or draws, it will be the second time in its history to reach the Champions League final.
Will Manchester City Fan Token (CITY) Rise?
With this critical match, the volume of the CITY token is expected to increase during the day. Apart from other cryptocurrencies, it is known that the volumes are quite high before the teams' matches and the tokens make sharp price movements, especially for fan token projects.
It is stated that the price of Manchester City Fan Token (CITY) may increase in the scenarios where the goals to be scored in the match and the advantage change hands today. Experts point out that CITY may rise rapidly in the process where Manchester City skips the tour and retains the advantage, while a decrease may occur in scenarios where Real Madrid takes the advantage.
In addition, market analysts point out that the projects in this ecosystem usually catch strong rises in the matches of the teams, but quickly turn down after the results are received. At the time of writing, Manchester City Fan Token (CITY) is trading at $11.90, down 0.24% in the last 24 hours.
Trabzonspor fan token dropped hard
As it will be remembered, Trabzonspor's Fan Token (TRA) experienced a drastic decline after Trabzonspor became the Champion of the 2021-2022 season of Spor Toto Super League at the weekend. TRA, which showed an increase with the possibility of championship throughout the week, increased from $4 to $9 overtime. However, with the sales pressure on the TRA after the team declared the championship, the fan token experienced a 60% drop.
Experts also draw attention to the fact that a similar process can take place on the CITY price in this match or in the possible Champions League final.
What is the Manchester City fan token (CITY)?
CITY is the official fan token of Manchester City, one of the Premier League teams. The project was launched on the Socios platform on May 25, 2021. 3.5 million of the tokens, which have a total supply of 20 million, are in circulation.
CITY is traded on exchanges such as Binance, FTX, and Gate.io. The fan token project, which rose to $36 at the time of the first listing, has been traded at the lowest level of $8 in the past months.
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