Crypto prices are falling, and most people wonder if they’ll ever recover. But in the face of that, a crypto whale has just dropped $1.89 million on Solana-based meme coin Fartcoin.
Smart money is also rotating to Solaxy, a new crypto presale that has just crossed the $29.5 million raised mark.
Trader Makes Bombshell Fartcoin Purchase
At a time when most investors were selling or at least considering it, one bold trader dropped $1.89 million on Fartcoin.
It seems like a reckless move. Fears of a global recession loom, trade war tensions are high, and the Fartcoin price is down 80% in three months.
A rational trader would say run, yet this whale doubled down, betting generational wealth on a Fartcoin rebound.
What does he know? Why would someone take such a risky bet at a time when market uncertainty is so high?
Is he abiding by the adage, “buy when others are fearful” – or is there something else?
One thing to consider is that Fartcoin has vastly outpaced other cryptocurrencies this week. It’s the second-highest gainer in the top 100 and made a staggering 30% jump on Tuesday.
It seems that this whale is not the only one wanting to get his hands on Fartcoin cheaply.
Other Solana ecosystem plays are also faring well right now. Some smaller tokens have even outpaced Fartcoin. For instance, Saros is up 74% this week, and Solana Swap is up 16%.
Did Solana degens miss the memo that financial markets are imploding?
Bulls Back Fartcoin to $1 This Month
On-chain Solana traders are following a completely different rule set right now. They’re not concerned about the tariff wars; they’re continuing to be bullish and buy projects they like best.
Fartcoin is proving a favorite, with numerous experts tipping it for significant gains in the weeks ahead. Cryptoknight suggests it will blast past the $1 mark and reach $1.4 by the end of April.
Similarly, Crypto Target looks to the $1 mark for Fartcoin in the coming weeks, noting that it has begun to form higher highs on its price chart.
Fartcoin is in a truly interesting spot. While TradFi capitulates to the tone of Trump’s trade tariffs, Fartcoin is showing strength and attracting attention from prominent analysts. Even Bloomberg’s Senior ETF Analyst Eric Balchunas picked up on the phenomenon.
But this is a running theme across the on-chain Solana ecosystem. Another project in a similar spot is Solaxy, a trending presale that has raised over $29 million.
Solaxy Tipped for 100X Gains as Presale Nears $30M
Solaxy’s raise puts it as the largest Solana ICO ever, which is a massive achievement given the challenging market conditions. Should this project have launched in Q3 of 2024, its raise could well sit above $100 million.
But why is Solaxy thriving? The presale is raising funds to build the world’s first Solana layer 2 blockchain, which aims to reduce fees and increase speeds compared to the Solana layer 1 chain.
Solana has grappled with congestion issues for years, with transaction wait times lengthening and failure rates increasing during peak activity periods. Solaxy aims to solve this, smoothing out Solana’s user experience and preparing the ecosystem for long-term growth.
If it achieves its goals, Solaxy could unlock billions of dollars in new value for Solana, which is why investors are rushing to buy the presale.
Analysts have high hopes, too. In a recent video, Cryptonews said that $SOLX could have 100x potential.
One of Solaxy’s unique features is that it’s branded like a meme coin. Considering the prominence of Fartcoin and other Solana meme coins, the Solaxy team clearly understands its target market well.
With a promising use case, resonant branding, and rapid early momentum, it’s easy to see why Solaxy could perform strongly this year.
This article is for informational purposes only and does not provide financial advice. Cryptocurrencies are highly volatile, and the market can be unpredictable. Always perform thorough research before making any cryptocurrency-related decisions.