Did anyone note that the fan tokens always recover fast against bitcoin?
Fan tokens like (Santos, Lazio, Porto, Alpine, ASR, ATM, ACM, JUV, BAR, OG)
I'm thinking to invest some money in Binance' fan tokens (Santos, Lazio, Porto, Alpine) because I see them are moving in a side way on the weekly time frame, and recently they have a high buying volume on the weekly chart.
Also they have a low market cap and low circulation supply, and also tokens utilities, besides that they are been backed by binance.
So what are your opinions guys about investing some money in them?
All the best! I wouldn't suggest you to invest even a single dime into any fan tokens. These are mainly NFTs and not coins in reality. So these coins don't have any utility unless you want to buy some official merchandise from the issuers. So these are bad choice for investment and holding.
I am not sure what do you mean by - backed by Binance? none of these coins are "backed" by Binance. They are just using Binance chain and Binance doesn't take responsibility of the value of these tokens. There are thousands of token using ETH chain, does that mean ETH backs these tokens? Nope! So if you really want to invest, use the pioneer coins like Bitcoin, ETH etc. Not these fan tokens which don't have any utility.