Why Is Fartcoin Price Up Today Despite Crypto Market Crash?
Highlights
- Fartcoin saw a 15.5% price increase boosting its market cap to $1 billion.
- Fartcoin's daily trading volume surged 80% to $404 million across centralized and decentralized exchanges.
- The Trump-Musk rift has contributed to broader crypto market instability, with Bitcoin falling to $100K.
Amid the broader crypto market crash, Fartcoin price has shot up 15.5% today, moving past $1.0, and its market cap is soaring $1 billion. The recent outperformance comes as top crypto exchange Coinbase announced plans to add the Solana-based meme coin to its listing roadmap. This has led to a strong market euphoria surrounding the altcoin.
FARTCOIN Goes Parabolic on Coinbase Listing News
Altcoins like FARTCOIN have surged 15% despite today’s major crypto market correction, amid the Trump-Musk rift going public, on the news of a possible Coinbase listing in the future. This development led to a massive 80% jump in the daily trading volume, shooting up to $404 million, combined on both CEXs and DEXs.
With this, the altcoin has partially recouped some of its losses over the past week. However, crypto exchange Coinbase stated that the commencement of trading for newly listed assets will depend on the availability of robust market-making support and adequate technical infrastructure. Besides, the exchange plans for a separate announcement, once all prerequisites are fulfilled, thereby ensuring smooth and efficient trading operations.
The Coinglass data also shows that the FARTCOIN futures are up 20%, shooting to more than $615 million. This shows that traders are bullish on the listing news, which can drive the altcoin price even higher. As per the previous analysis by Coingape, the Solana meme coin could be eyeing for a rally to $2.75 with the rising open interest.
Apart from the meme coin, Coinbase has also added SQD, the native cryptocurrency of Arbitrum-based decentralized data lake Subsquid, to its listing roadmap.
Will The Rally Sustain During Crypto Market Crash?
The ongoing rift between Donald Trump and Elon Musk led to the crypto market reacting negatively, as uncertainty spiked. The liquidations surged close to $1 billion as Bitcoin price dropped to $100K, while altcoins faced an even steeper fall, led by Ethereum.
Crypto market volatility is likely to continue as the Trump-Musk rift escalates further. Musk even stated that Trump tariffs could lead US into recession during the second half of the year.
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