Solana-Based Meme Cryptocurrency Fartcoin Hits $1 Billion Market Cap

Dec 18, 2024, 02:55 PM

Fartcoin, a Solana-based meme cryptocurrency, has seen its market capitalization surge to over $1 billion. The token, which has been described as embodying the absurdity of the crypto market, experienced a rapid rise from a $20 million valuation to $840 million in just six weeks. Its market cap briefly surpassed that of 22% of companies in the Russell 2000 index and even eclipsed 93% of all publicly listed companies on the stock market. Fartcoin's valuation hit the $1 billion mark amidst a broader market downturn, highlighting its status as a meme-driven asset.