PSG Fan Token Surges Over 50% Amid Messi’s Departure From FC Barcelona

August 10, 2021, 3:45 PM AEST - 11 months ago

Lionel Messi’s departure from Barcelona to a rumoured new destination at Paris Saint-Germain has caused PSG Fan Token to surge almost 62 percent, while its volume ballooned 500 percent.

Argentine Messi, widely acknowledged as the world’s greatest footballer, is reportedly in talks with the French club and is on the verge of signing a contract.

Paris Saint-Germain is a possibility, yes. At the moment nothing is confirmed, I received a lot of calls after the Barcelona statement. We’re talking about it.

Lionel Messi

The PSG fan token ($PSG), listed on the blockchain-led ERC-20 platform of the Ethereum network, is a proof of membership for the Paris-based football club. The token, available for trade in a limited number, also provides holders with the club’s governance rights. 

$PSG, ranked 406th on CoinMarketCap, is trading at US$51.59 with a 24-hour trading volume of US$786 million against its current market cap of $66 million. It has a maximum supply of 20 million tokens, with 100 per cent of coins currently in circulation.

Price Still Up 20 Percent After Retracement

The price moved from US$29 to over $44 in 24 hours after the Messi news broke. It has since retraced slightly but is still up more than 20 percent.

PSD USDT token price

Messi’s contract with Barcelona expired on June 30, at which time he became a free agent for the club. Although both parties agreed to a five-year contract extension, La Liga’s salary cap rules preclude a renewal.

I gave everything for this club from the first day I arrived to the last. I never imagined having to say goodbye as I didn’t think about it. What’s clear is I did everything possible, and they [Barcelona] couldn’t do it because of La Liga.

Lionel Messi

Multiple sources suggest Messi is moving to France to join former Barcelona teammate Neymar da Silva Santos at Paris Saint-Germain.

Token Set to Break US$100 Barrier

$PSG is expected to break the US$100 mark when Messi officially joins Paris Saint-Germain. Since its release in June 2020, the token has risen over 821 percent and yielded 855 percent returns in the past year.

PSG tokens are available for trade on Binance, Gate.io, Paribu, Upbit and HitBTC. It is exchangeable through Tether (USDT), Binance’s stablecoin (BUSD), Bitcoin (BTC), Chiliz (CHZ) and Trias (TRY).

Last week, it was announced that a Messi-themed NFT collection dubbed “The Messiverse” will be available from August 20 on blockchain platform Ethernity Chain (ERN).

Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.