FARTCOIN briefly dropped below $0.29, causing the highest number of liquidations across the network in the past hour

BlockBeats News, December 18th, according to GMGN monitoring, the Solana-based Meme coin FARTCOIN experienced a short-term decline of about 8.4%, reaching a low of $0.28 and is now trading at $0.29. In addition, according to HyperInsight monitoring, approximately 38% of FARTCOIN positions on Hyperliquid were liquidated, with the largest short whale (0x7fd) continuously closing positions in the past hour. The current FARTCOIN position is around $7.79 million, with an unrealized gain of $1.75 million (226%). The total position of this address is approximately $174 million.

According to Arkham monitoring, this address is suspected to belong to the web3 asset management company Fasanara Capital, which has managed over $3.5 billion in assets and has a team dedicated to cryptocurrency arbitrage trading and lending.