How Fan Token® Markets Responded to UCL Matchday 3

The third Champions League matchday was the most anticipated of the competition so far, not least because holders Paris Saint-Germain were facing off with fellow Fan Token® giant Barcelona.

Elsewhere, Arsenal ($AFC) travelled to Bavaria to meet Bayern Munich, Inter Milan ($INTER) sought to snap a four-game UCL losing streak against Shakhtar Donetsk, and a clutch of clubs with digital assets chased much-needed points.

As we touched on in our last update, Fan Tokens have felt the pinch of late, a consequence of wider market struggles. On the day the second round of UCL matchday 3 games took place (Oct. 21), however, Bitcoin traded near $84,500, up 2.5% over 24 hours. The Crypto Fear & Greed Index also climbed three points.

So did the improving mood music feed into Fan Tokens? Let’s take a closer look to find out.

$PSG Sink Barça to Restate Title Credentials

Tuesday night’s collision between reigning European champions PSG and in-form Barcelona was expected to be a classic, and it duly delivered. While Barça had been made pre-match favourites due to their 11-game win streak, Paris Saint-Germain triumphed 4-2 thanks to late goals from Vitinha and Fabián Ruiz.

In the week leading up to the game, the Barcelona Fan Token® ($BAR) gained 4.2% while trade volumes grew from $800k to over $5M. By full-time, though, $BAR had dropped by 3.2%.

Despite the referee’s final whistle coinciding with a modest 2.8% gain for the Paris Saint-Germain Fan Token®, the jubilation was short-lived as the winner’s token soon corrected.

PSG now sit at the summit of the UCL table after three wins from three and an unmatched 14 goals scored. Barça are still on the right side of the automatic-qualification cutoff in eighth place.

This Sunday, both teams have mouthwatering domestic duels to look forward to: while Barça host Real Madrid, PSG welcome high-flying Olympique Lyonnais (Oct. 25). With each asset in the red over the last 24 hours as of Thursday morning, traders will be watching closely to determine a favourable entry point.

$NAP, $ASR and $INTER Get First UCL Wins of 26/27

Italian clubs have had a rough ride in this season’s Champions League, but after matchday three, they’re all in the playoff spots. This is something we predicted last week, when noting the trio’s “winnable Champions League matches coming up.”

While Roma destroyed Slovan Bratislava 4-0 at a raucous Stadio Olimpico, Napoli edged out Bodø/Glimt 4-3 in a thriller and Inter gained a slender 1-0 win over Shakhtar Donetsk.

Between Oct. 18 and Oct. 21, a day after their win, the AS Roma Fan Token® ($ASR) climbed from $0.779 to $0.807 (+3.6%). Although the Napoli Fan Token® ($NAP) also rose 2.1% between Oct. 19 and Oct. 21, its value had actually nosedived 8% in the preceding three days.

As for $INTER, it reached $0.20 on the night of the Shakhtar win, a 3.6% rise on the previous day. However, its current price of $0.188 is still 54% down on the value it hit in mid September. Can it build back towards that level ahead of the Milan derby on Halloween?

$GAL Win But Qualification Still Uncertain

Galatasaray responded to a humbling at the hands of Barcelona last week to claim their first Champions League points, coming from 2-1 down to beat Lille 4-2 in France.

Like Italian champions Inter, Turkish rulers Galatasaray have work to do to secure qualification: they’re currently 23rd, with goal difference separating them from automatic relegation.

The away win over Lille was hugely important, however. Which is perhaps why the Galatasaray Fan Token® ($GAL) responded in kind: valued at $0.784 on Oct. 20, it jumped to $0.809 (+3.1%) a day later.

On Monday night, Galatasaray will contest the Intercontinental Derby against third-placed Fenerbahçe. Lose that one and they could slip from first in the league to fourth. Expect market hype to bubble up as kickoff draws near.

$AFC and $ATM Secure Draws After German Battles

Last season, Arsenal defeated Atlético Madrid in the UCL semifinal. This year, both are in the frame to qualify for the knockouts again, though they had to settle for draws in their most recent outings.

First, on Tuesday (Oct. 20), Atlético Madrid salvaged a draw against Stuttgart through a Julián Alvarez equaliser. 24 hours later, a late strike from midfielder Declan Rice earned the Gunners a valuable 2-2 stalemate against the mighty Bayern Munich.

Valued at $0.96 on Oct. 17, the Atlético Madrid Fan Token ($ATM) hit a dollar on matchday (+4.1%), and though it soon fell below this level, it subsequently shot to $1.07 on Oct. 22.

As for the Arsenal Fan Token® ($AFC), the Bayern draw couldn’t arrest its downward momentum: since Oct. 11, $AFC has declined 16.2%.

With no sustained climb since August, one wonders if November might see upward movement: not only are there two UCL games, but the Gunners face both Liverpool (Nov. 1) and Manchester City (Nov. 29).

$CITY Maintain Momentum with AEK Demolition

Speaking of Manchester City, they had one of their best European performances in years, thumping AEK Athens 5-1 at home to claim their second win of this year’s campaign.

A hat trick and assist from Phil Foden, who was omitted from England’s World Cup squad, highlighted City’s firepower even in the absence of talisman Erling Haaland, who remained on the bench. The 2023 champions are now 10th, just outside the automatic qualification spots for the last-16.

A cursory look at the market suggests $CITY traders had already priced in victory: the token’s value barely moved, and trade volume was actually higher in the days preceding the fixture. Like title rivals Arsenal, $CITY has been sliding of late, having lost 13.8% since the start of October.

How Will Uptober End?

There’s just one week left of ‘Uptober’, and with the Crypto Fear & Greed Index currently rated neutral, traders are understandably edgy – particularly with the Federal Reserve’s October meeting right around the corner (Oct. 27-28).

Whatever happens, we’ll be back with a fresh update next week covering all the latest goings-on in the Fan Token® market.

For more on Fan Tokens, including detailed price information and the latest news, check out Fantokens.com.

Disclaimer: This article is contributed by a Bitget partner. The views expressed are the author’s own, do not necessarily reflect those of Bitget, and should not be considered financial or investment advice. Cryptocurrencies and Fan Tokens are highly volatile. Qualified professionals should be consulted prior to making financial decisions.