Fartcoin surges 18% – Identifying key factors you need to watch

Key Points

1. Fartcoin's price rose 18.99% to $1.4879, with market cap increasing 18.8% to $1.47 billion and trading volume up 95% to $465 million.

2. The rally was primarily driven by speculation over Fartcoin's potential use in crypto-backed mortgages, as hinted by Kraken.

3. Fartcoin's Netflow dropped to -$2.3 million, indicating aggressive accumulation as outflows exceeded inflows.

4. Derivatives activity surged, with Open Interest (OI) up 28.52% to $1.01 billion and Derivatives Volume rising 89.48% to $3.79 billion.

5. Technical indicators like RSI (63) and CMF (0.16) suggested strong buyer dominance, but the rally could be speculative and may retrace if sentiment weakens.