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PSG Fan Token Jumps 25% as Football Club Triumphs Over Barcelona
Paris Saint-Germain's fan token is one of several issued for sports clubs by the crypto company Socios.
Football club Paris Saint-Germain's fan token PSG spiked Tuesday as the French team secured a 4-1 victory over rival Barcelona in the UEFA Champions League quarterfinal.
The token jumped as much as 25% after a blistering rally that began with PSG's first goal early in the first half. It kept climbing until around midway through the second half, reaching $5.20 before selling off somewhat going into the victory.
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Meanwhile, the fan token for Barcelona, BAR, fell as much as 4.2% on Tuesday after the defeat.
Despite the rally, PSG's token failed to hold firm above the $5 level it enjoyed as recently as April 12, according to CoinGecko.
PSG is one of a smattering of "fan tokens" issued for sports clubs by the crypto company Socios. Holders of the asset get to influence certain decisions at the club, according to its website.
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