Solana-based memecoin Fartcoin briefly exceeded a $1 billion market cap amid a downturn in the altcoin market.
Solana-based memecoin Fartcoin gained 113% over the past 30 days to briefly surpass a market capitalization of $1 billion on Dec. 18 — despite most of the altcoin market suffering a double-digit slump over the day.
Fartcoin — a memecoin without any utility — stood out as the broader crypto market faltered after the Fed announced a 25-basis-point rate cut, along with signals that 2025 could see fewer cuts than previously expected.
Between 8:20 pm and 9:00 pm UTC on Dec. 18, Fartcoin’s price was an outlier in the altcoin market, spiking approximately 21% to $1.02, pushing its market cap to $1.02 billion, according to CoinMarketCap data.
