Wall Street is suffering a stinky meltdown while Fartcoin is up 30%

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Bitget Academy2025/04/08 08:54

By:Bitget Academy

While crypto and stock markets are deep in the red this week, one memecoin is defying the trend and surging at the time of writing. Fartcoin has surged a whopping 30% over the past 24 hours, topping $0.60 on April 8, according to CoinGecko.

On April 7, the Solana-based memecoin hit a low of $0.42 amid the broader crypto market slump, which saw Bitcoin prices fall below $75,000 to a five-month low. However, since then the token has gained more than 40% and is one of the crypto market’s top performers at the moment.

Crypto trader “RookieXBT” told their 484,000 followers that Fartcoin volume was increasing “while the world falls apart,” adding, “No other coin is doing this.” The financial parody account “Not Jerome Powell” quipped, “hot air rises,” noting that every asset was down aside from Fartcoin.

Stock markets across the globe slumped on April 7 in reaction to Donald Trump’s sweeping trade tariffs. Bitcoin dumped 6% on April 3 in a fall from above $87,000 to around $81,500. Fartcoin was one of the first to recover, surging 36% the following day.

Source: CoinTelegraph

Futures Market Updates

Recent higher long liquidations in both Bitcoin and Ethereum markets, despite positive funding rates, point to potential price volatility squeezing leveraged long positions.

Bitcoin Futures Updates

Total BTC Open Interest: $51.69B (-1.18%)

BTC Volume (24H): $217.86B (+45.19%)

BTC Liquidations (24H): $147.16M (Long)/$202.69M (Short)

Long/Short Ratio: 50.01% Long / 49.99% Short

Funding Rate: 0.0043%

Ether Futures Updates

Total ETH Open Interest: $17.48B (-4.96%)

ETH Volume (24H): $104.96B (+26.19%)

ETH Liquidations (24H): $88.68M (Long)/$134.40M (Short)

Long/Short Ratio: 50.12% Long / 49.88% Short

Funding Rate: 0.0015%

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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