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

BlockBeats News, December 18th, according to GMGN monitoring, Solana-based Meme coin FARTCOIN experienced a short-term decline of about 8.4%, with the low point reaching $0.28 and is now trading at $0.29. In addition, according to HyperInsight monitoring, approximately 38% of FARTCOIN's liquidation on Hyperliquid came from a single address, with the largest short whale (0x7fd) continuously closing positions in the past hour, currently holding a position of about $7.79 million with unrealized gains of $1.75 million (226%)

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