Fc porto fan token price prediction: What is fc porto fan token (PORTO)?

It is designed to allow supporters of the Portuguese football giant to combine their love of their side with the world of crypto. But what is fc porto fan token (PORTO)?

Let’s take a look at that, and also see about some of the fc porto fan token price predictions that were being made on 19 August 2022.

FC porto fan token explained

If cryptocurrency is on a mission to expand its reach from the blockchain to the wider world in general, then it is, perhaps, to be expected that there will be people and organisations from that wider world who want to get involved in it. Indeed, it could be argued that this is a very good thing indeed because – while there are plenty of trusted and respected blockchains and blockchain-based networks that have made a name for themselves – if cryptocurrency does want to take it to the next level of mainstream acceptance, being linked with a known organisation or brand might help it.

Anyway, with association football being the world’s biggest sport, it is perhaps not a massive surprise that institutions from the world of soccer have taken their first steps into the world of crypto.

FC Porto are one of Portugal’s biggest football clubs, having won their country’s championship 30 times. They have also enjoyed success on the European stage, becoming champions of Europe in 1987 and 2004, the last club from outside of England, Germany, Italy or Spain to do so. 

With Porto’s size and prominence, it was perhaps inevitable that it could link up with major players in the cryptosphere. The Binance (BNB) fan token is a scheme designed to set up cryptos linked to people’s favourite teams. As well as links to the Brazilian side FC Santos, it also has a token associated with Italy’s Lazio and, in late 2021, it teamed up with Porto.

The fc porto fan token, also known by its ticker handle PORTO, is based on the Binance Smart Chain (BSC), and was first launched in late 2021. One important thing to note is that the santos fc fan token does not have its own whitepaper. 

Considering that a whitepaper – basically, a document containing the important technical points of a cryptocurrency – is a crucial tool in helping investors to decide whether or not to invest in a crypto, the fact that PORTO does not have one of its own might be seen as being a potential red flag. 

There is, however, some information on the Binance website that might serve a similar purpose, although whether it can truly take the place of a detailed whitepaper is something that investors will have to decide for themselves. 

People who hold PORTO are able to take part in votes on certain issues surrounding the team and their coin. While they don’t exactly extend to getting involved in the transfer market or picking the starting XI, there are still some options. For instance, people can vote on a player of the month, who gets rewarded in PORTO, while, in June 2022, they voted on a banner for the club’s Facebook page. Holders also have the opportunity to buy non-fungible tokens (NFTs).

Although there is no official founder for PORTO, Binance is run by CEO CZ Zhao, who said at the time the token was created:

“Binance Fan Tokens are a new and exciting way for supporters to engage with their favourite teams. FC Porto is not only one of the most established football clubs in Europe, but it is also one of the most innovative.”

Fc porto fan token price history

Now let’s cast our eyes over the PORTO price histiry. While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can help us if we want to interpret an fc porto fan token price prediction, or else make one of our own.

When the crypto first came onto the open market in late 2021, it initially performed well, trading at what is still its all-time high of $14.65 on 16 November. After that, though, it dropped down, and closed the year at $3.14. 

While 2022 has, ultimately, been a pretty weak year for crypto, PORTO has defied the market – although, as we will see, it has taken its time to do that. Anyway, the token started the year by rising to $3.51 on 14 January. Although there was a dip, there was also a recovery to $4.20 on 15 February. 

When Russia invaded Ukraine on 24 February, the token dropped to $2.43, before going on a slow recovery that culminated in a daily high of $6.16 on 17 April. After that, though, things went down and the token sank to an all-time low of $0.9236 on 12 May in the wake of the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency. 

There was some recovery after this, when the price stood at $2.85 on 26 May, but then the news that withdrawals were cancelled on the Celsius Network crypto lending platform confirmed the crypto bear market and the price slid to $1.59. There was some recovery after this and at the time of writing, as of 18 August, the token had surged to $6.35. Following this, there was a little bit of a fall back and, on 19 August 2022, PORTO was trading at about $5.58.

At this time, there were 7.8 million PORTO in circulation out of a total supply of 40 million. This gave it a market cap of about $43m, making it the 411th largest crypto by that metric. 

Fc porto fan token price prediction round-up

With that all over and done with, it’s now time to take a look at some of the fc porto fan token price predictions that were circulating as of 19 August 2022. It is important to remember that forecasts, especially when it comes to something as potentially volatile as cryptocurrency, are very often wrong. Also, it is well worth remembering that long-term crypto price predictions are often made using an algorithm, which means that they can change at a moment’s notice.

First, Gov Capital had a bearish fc porto fan token price prediction for 2022 that by 1 September the crypto could have fallen to $2.53. That was not the end of the bad news, though, as the site said the price might have stagnated further, with it potentially closing the year somewhere between $2.07 and $2.08. By the end of January 2023, it suggested that the token could have dropped below $2, and the prediction said the token would spend much of the summer struggling to make it above $1. By 28 November 2023, the prediction was that PORTO would drop to a level so low as to see it being virtually worthless, making it a de facto dead coin. 

Next, AMBCrypto was more optimistic with its PORTO price prediction, although it said the token could have dropped to a little under $4.84 this year, before it moved up to just under $4.92 next year and approached $6.15 the year after that. By 2025, the site offered a PORTO coin price prediction of $7.68, before it could have achieved somewhere between $9.60 and $9.61 in 2026. In 2027, the prediction suggested it could have ended up just below $12.01 and moved to somewhere under $15.01 in 2028. The site argued that PORTO could have closed the decade at $18.76, before it made an fc porto fan token price prediction for 2030 of $23.45, followed by $29.31 the following year, $36.64 in 2032 and $45.80 in 2033.

Meanwhile, PricePrediction.net had PORTO crypto price prediction that argued the token could have fallen to $4.08 in 2022, $5.76 in 2023 and $8.62 in 2024. The site then made an fc porto fan token price prediction for 2025 that suggested the crypto could have reached $11.93, $16.67 in 2026, $24.46 in 2027 and $37.31 in 2028. By 2029, the prediction was for PORTO to have been at about $55.80, with it potentially starting the next decade at around $83.48. In 2031, the site said that the token could be trading at somewhere around $127.34. 

Finally, WalletInvestor was far more downbeat and bullish in terms of making a PORTO token price prediction. The site suggested that, by August 2023, the value of the crypto could have fallen significantly, reaching $0.2068.

When considering a PORTO token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.

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