Investing.com — David Einhorn of Greenlight Capital recently discussed the current state of the cryptocurrency market, pointing out, “[w]e have reached the “Fartcoin” stage of the market cycle.”
Fartcoin, a digital currency created in late 2021, has seen an incredible rise from a nominal value to over a billion dollars. The hedge fund manager highlights that despite its lack of obvious utility beyond trading and speculation, Fartcoin has become the latest meme coin sensation, following in the footsteps of , a cryptocurrency created over a decade ago with a similar aim to mock cryptocurrencies and enable speculative trading.
Dogecoin, featuring a dog logo, is currently valued at $55 billion. If it were a stock, it would rank around #180 in the , surpassing the size of companies like Travelers (NYSE:) and
