Fartcoin Surges 17% Amid Bullish Market Activity
Key Takeaways
Fartcoin (FARTCOIN), a memecoin, has seen a 17% price increase over the past 24 hours. This surge has been driven by a combination of new user adoption, spot market purchases, and a predominantly bullish sentiment in the derivatives market. Trading activity remains high, although some indicators suggest the momentum may be slowing.
New Capital Flows into Fartcoin
According to data from Nansen, 451 new users have adopted Fartcoin in the past 24 hours. In total, more than 89,000 wallets now hold the token. Spot market trading volume during this period amounted to approximately USD 2.95 million. This trend points to growing market acceptance – a typical pattern for memecoins driven by community engagement and viral attention.
Derivatives Market: Bullish, But With Warning Signs
Interest in Fartcoin has also increased in the derivatives market. The so-called funding rate – an indicator of whether long or short positions dominate – currently sits at 0.0453% and has remained positive since April 26. This indicates a clear dominance of long positions.
At the same time, open interest (OI), which represents the total value of outstanding derivative contracts, has risen by 11.23% to USD 617.94 million. This suggests heightened trading activity. However, the OI Weighted Funding Rate – a weighted indicator of the ratio between open positions and funding – has dropped from 0.1185% to just 0.0067%. This means that while there is still buying interest, the intensity is waning.
Long-Term Outlook Remains Uncertain
Over the past 30 days, Fartcoin has also performed strongly. Trading volume rose by 16.15% to USD 6.988 billion. At the same time, market capitalization increased by 11.96% to USD 58 billion. This parallel development of both metrics indicates organic growth in interest – a positive sign for the token’s short-term stability.
However, caution is advised with memecoins. The market is heavily influenced by sentiment and trends. The declining funding intensity in the derivatives market could be an early sign of a potential correction.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Comic Book Slots – Best Comic-Themed Slots
Reading time: ~ 3 minutes
-
Anime Slots – Anime-Themed Slots
Reading time: ~ 3 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 3 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 3 minutes
Our Assessment
Fartcoin is currently benefiting from a combination of hype, user growth, and positive market sentiment. The numbers suggest a short-term continuation of the rally – at least as long as market interest remains high. Nevertheless, it is important to closely monitor developments in the derivatives market. A drop in trading intensity or a reversal in the funding rate could indicate an upcoming price correction.
If you are considering investing in memecoins, it is important to regularly review the data and not rely solely on short-term price gains. Fartcoin is currently showing strength, but as with all speculative assets, it’s essential to secure profits and diversify risk.
Sources
- Coinglass
- Nansen
- CoinMarketCap
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency