One of 2021 Bull Season’s Most Prominent Altcoins Bounces After Tether’s Investment Announcement
Following the investment announcement of Tether, the world's largest stablecoin company, there was an increase in the popular altcoins of a period.
Tether, the world’s largest stablecoin issuer, has made a strategic investment in Italian football club Juventus FC, triggering a significant rally in the prices of cryptocurrency fan tokens.
According to a press release, the firm’s investment arm, Tether Investments, has acquired a minority stake in Juventus FC. The news sent Juventus FC shares up 2.5% on the Italian stock exchange. The development has seen the price of the Juventus Fan Token (JUV) increase by more than 100%. However, the token is still trading 94% lower than its all-time high.
Tether’s investment also fueled a broader rally in the fan token market, with the SS Lazio Fan Token (LAZIO) up 11%, while the FC Porto Fan Token (PORTO) saw gains of over 10% on the day. Other European club tokens, including those linked to Tottenham Hotspur, Paris Saint-Germain and Napoli, also saw notable price increases following the announcement.
Fan tokens were particularly one of the most prominent themes of the 2021 cryptocurrency bull market.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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