The US men’s national soccer team’s World Cup dream ended exactly the way cynics predicted it would. A 4-1 demolition by Belgium in the round of 16 on July 6 in Seattle sent the host nation packing, and the crypto markets adjacent to the Beautiful Game responded accordingly.

Belgium’s fan token, BELG, surged roughly 16% around the time of the match.

From group stage heroes to knockout stage ghosts

The USMNT topped Group D with three convincing wins: 4-1 over Paraguay, 2-0 against Australia, and 2-0 over Bosnia and Herzegovina in the round of 32.

Then Belgium happened. Four goals conceded. One scored.