Altcoins have been hot and cold since the start to 2022. Pupcoins in particular are on absolute rollercoaster rides. Some days, tokens like Shiba Inu (SHIB-USD) are soaring on good news; on others they are suffering losses for what seems like no good reason. It certainly seems like getting into a pupcoin at the right time can prove a lucrative investment still. Even nearly a year after Dogecoin (DOGE-USD) prompted the craze, these tokens remain a white-hot topic. Saitama (SAITAMA-USD) is no different, then, especially with its big news today via Islam Makhachev.
If you haven’t heard of Islam Makhachev, you are probably not a fan of the Ultimate Fighting Championship (UFC). Makhachev is a promising young fighter who is carving a name out for himself among the best of the best fighters. And today, he’s also a force in the pupcoin world as he teams up with Saitama.
Saitama Crypto Draws Big Gains, Leveraging New Partnership With UFC Fighter
In a press release published by the Saitama project, UFC fighter Islam Makhachev will be a brand ambassador for the SAITAMA crypto. The release details both Makhachev’s status as the No. 4 lightweight fighter in the world. It also notes his juxtaposition to the well-known fighter Khabib Nurmagomedov, who became famous even outside of mixed martial arts fanbases after handily defeating fellow fighter Conor MacGregor in 2018.
Makhachev’s and Saitama’s partnership reflects a growing trend bridging cryptocurrency and professional sports. Indeed, the UFC already has several partnerships with crypto projects; Crypto.com (CRO-USD) is branded across fighters’ kits, and Chiliz (CHZ-USD) more closely connects fans to the organization through its UFC fan tokens.
According to the press release, the partnership will make its debut in the octagon as soon as Makhachev’s next fight. The fight will take place on Feb. 26. As news of the partnership continues to ripple across the crypto space, SAITAMA is benefiting quite a bit. The token is gaining about 9% on the news, and trading volume is growing quickly; over $15 million in SAITAMA is trading hands today, a 65% increase over yesterday’s volume.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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