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Home»ADOPTION NEWS»Fan Token trading volume exceeded $1 billion in 24 hours, with OG Esports continuing its surge.
ADOPTION NEWS

Fan Token trading volume exceeded $1 billion in 24 hours, with OG Esports continuing its surge.

By Crypto FlexsOctober 8, 20243 Mins Read
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Fan Token trading volume exceeded  billion in 24 hours, with OG Esports continuing its surge.
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Market • October 8, 2024, 4:56 AM EDT

Posted 1 minute ago to

Updated: October 8, 2024, 5:04 AM EDT

The 24-hour trading volume of fan cryptocurrency tokens exceeded $1 billion, with the Chiliz-based OG Esports fan cryptocurrency accounting for more than half.

According to data from CoinMarketCap, Fan Token trading volume increased 219.98% over the past day to $1.08 billion, while the market capitalization of the entire token group increased 15.94% to $348.5 million.

Most of the trading volume over the past day has come from OG Fan Tokens, a cryptocurrency for supporters of European esports group OG. Over the past day, more than 51 million OG tokens have been traded, worth approximately $563 million.

On Binance alone, approximately $282.33 million was traded in the OG-USDT pair, which exceeds the past day’s volume of major tokens such as Toncoin and Cardano on the exchange.

The price of OG is also up 87% in the last 24 hours and about 245% in the last 7 days to trade at $10.50. Several other sports fan tokens have seen significant price increases. Santos FC’s fan tokens surged 58% to $4.59, while Alpine F1 team fan tokens jumped 23.65% to $1.54.

Fan Tokens are cryptocurrencies that allow sports fans to participate in the decision-making process within their favorite sports team or league. These digital assets often offer exclusive benefits, such as voting for team merchandise or participating in special events.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.

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