Thomas Daniels
The meme coin that is popular on Solana, Fartcoin (FARTCOIN), has reached previously unheard-of heights. Following a rally that saw its price rocket to an all-time high of $1.30 on December 20, the token’s market capitalization reached $1 billion. The launch of Fartcoin perpetual contracts by Binance Futures, which provide up to 75x leverage, coincides with this astounding increase.
Fartcoin has risen by 50% in the last week and by an incredible 370% in the last month. As the price continued to rise, trading volume increased by 8% in a single day to almost $315 million. Investor confidence has been further strengthened by the announcement of its participation in Binance Alpha, a platform that highlights early-stage ventures.
Fartcoin is one of the recently introduced perpetual contracts on Binance Futures, along with AIXBT, KMNO, and CGPT. With gains of 16% and 42% in a single day, respectively, AIXBT and CGPT have demonstrated impressive market performance.
At 18:30 UTC on December 20, Binance Futures introduced perpetual contracts for these coins, indicating a larger initiative to increase trading choices. Since Binance Alpha identifies projects with high potential for future listings on the exchange, traders have become more optimistic despite the fact that none of these tokens are listed on Binance’s spot market.
The rapid rise of Fartcoin and related assets highlights the ongoing fascination with meme coins and the influence of large exchanges on market dynamics. Despite a tumultuous overall market, cryptocurrencies like Fartcoin continue to garner a lot of attention due to their improved trading choices and higher liquidity.
