#Fartcoin Briefly Hits $1 Billion Market Cap Despite Altcoin Bloodbath
Solana-based#Fartcoinbriefly surpassed the $1 billion market cap amid a slowdown in the altcoin market.
Solana-based#Fartcoinhas surged 113% over the past 30 days to briefly surpass the $1 billion market cap on December 18 — despite most of the altcoin market suffering double-digit declines on the day.
Fartcoin — a meme coin with no interest — has emerged amid a broader crypto market rout after the Federal Reserve announced a 25 basis point rate cut, along with indications that 2025 could see smaller cuts than previously expected.
Between 8:20 p.m. and 9:00 p.m. GMT on December 18, Fartcoin was an outlier in the altcoin market, surging about 21% to $1.02, pushing its market cap to $1.02 billion, according to data from #CoinMarketCap.
The rally didn’t last long. Hours after surpassing the $1 billion mark, Fartcoin was down about 16%, and is now trading at $0.83 with a market cap of $838.4 million.