Although the FED cut interest rates by 25 basis points as expected, Bitcoin (BTC) and altcoins experienced declines following FED Chairman Jerome Powell's hawkish statements that less interest rate cuts than expected could be seen in 2025.
While the market was experiencing a decline, the Solana (SOL)-based memecoin Fartcoin (FARTCOIN) attracted attention with its rise.
Fartcoin surpassed the $1 billion market cap on Dec. 18, up 113% in the last 30 days, despite much of the altcoin market experiencing double-digit declines on the day.
The Fartcoin rally did not last long. Shortly after its market value exceeded $ 1 billion, Fartcoin retreated. However, Fartcoin rose again afterward and exceeded the $ 1 mark.
Fartcoin, which has been in business for about 2 months, was launched on October 24. Although Fartcoin has experienced significant volatility in its market value, it continues to attract attention with its rise.
As comments on Fartcoin’s rise grow, Unlimited Funds co-founder Bob Elliott said in an X post, “If Fartcoin is experiencing a parabolic rally, perhaps monetary policy is far from being too restrictive.”
Bone Fide Wealth president Douglas Bentforth also referred to Powell's Bitcoin statements in an X post, saying, “The Fed can't own Bitcoin, but they haven't said anything about Fartcoin.”
Having increased by 18% in the last 24 hours, Fartcoin (FARTCOIN) continues to be traded at $1.04 at the time of writing.
*This is not investment advice.
