With the start of the soccer World Cup, the tokens of the participating teams also began to flow to the market.

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The World Cup has just begun On Sunday, November 20, various files related to the world of soccer and even the teams participating in the World Cup began to react in the market.

However, they have not responded positively as the price hike follows the start of the most anticipated sporting event of the year. Conversely, some of Qatar's biggest teams saw their fan chips drop even before their debut.

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Given that soccer chips have risen in value ahead of the World Cup, perhaps this is a "buy rumors, sell news" phenomenon. But teams like Argentina fell between 10% and 15% from Sunday to Monday. On Tuesday, things got even worse for the Argentine. Not only did they lose in a surprise match against an opponent no one expected to play the way they did, but ARG's chip fell within hours of losing to Saudi Arabia. A few days before the World Cup, one of the biggest stars in the world announced an agreement with the most important cryptocurrency exchange. People will be eager to see what happens to their teams and their respective tokens when they start playing.

Earn cryptocurrency

Still in the case of FTX, one coin benefited greatly from the whole scandal. As a sign of the cryptocurrency wallet, the leveraged market cap has doubled in self-serve fund activities initiated by industry insiders and even representatives of major well-known exchanges. In fact, Binance CEO Changpeng Zhao is backing the wallet himself, fueling its market growth in recent weeks.

Another cryptocurrency that has recently come to light is Litecoin. On the one hand, thanks to its new status as one of the most profitable mining options after the Ethereum merger.

But more specifically, LTC can be driven by the proximity of the events that wrote its code and is a direct descendant of Bitcoin, the network on which it was born. Like Bitcoin, Litecoin's market cycle performance is related to this characteristic, which is also directly related to its monetary policy.

My reflexion

Given the FTX scandal and the loss of confidence in exchanges, it is strange that the market would reward exchanges tokens. After all, FTX's relationship with its FTT token has been one of the pillars of the exchange's failure.

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