Chainlink Soars 25% While Premier League Soccer Clubs Want Fan Tokens
Last Updated on 5 January 2022 by CryptoTips.eu
Chainlink was all the trend back in the summer of 2020 when DeFi coins first made the news.
2021 has been a somewhat lacklustre year for the Link Marines (the social media grouping that counts itself as fans of the coin), but 2022 seems off to a good start. As new investors look for higher-growth, small-cap tokens rather than settling for the slow-and-steady growth profile of larger networks such as Ethereum and Bitcoin, altcoins are all the rage.
Chainlink, which by now sees its protocols being used by some of the most popular blockchain networks like Avalanche and Ethereum. It looks to be one of the coins profiting from this interest. In the past week, LINK has shot up some 25%. Today it is rising 7%. Let’s see if the trend is an indication of things to come.
Premier League Wants Fan Tokens
Seeing the success of Socios, the crypto fan tokens that several major Southern European football clubs are offering to their fans which in turn generate a new revenue stream for clubs, some clubs from the English Premier League (arguably the biggest soccer competition in the world) want to get in on the action.
Furthermore, memecoins have also started sponsoring deals with football clubs, just look at Floki which entered into a partnership with Italian club Napoli last month.
Arsenal tried to launch a Socios token but was immediately rebuffed by UK authorities, who are reluctant to let the Premier League get involved with crypto.
Matt Zarb-Cousin, a former aide to previous Labour leader Jeremy Corbyn, declared in the British press that:
It is one thing for football clubs to market gambling to fans, which could lead to people destroying their lives as a consequence, but I think it’s on another level, it’s even worse to be offering a way into cryptocurrency through the pretence of empowering them in effectively a completely unregulated area. There’s clearly massive issues that are being stored up.