Fartcoin has jumped by 8% in the past 24 hours, rising to $0.9273 as the crypto market as a whole actually drops by 1% today.

FARTCOIN is now up by 61% in the past week and by a whopping 169% in the past month, making it the best-performing top-100 token across these time timeframes.

And what’s interesting is that its gains today have come after a couple of whales offloaded significant sums of the coin, potentially expecting an imminent selloff.

Yet many traders and analysts are expecting Fartcoin to break the $1 barrier in the near term, with the meme token also having a very positive long-term prediction.

Fartcoin Faces Massive Whale Exit – But Analysts Still See Triple-Digit Upside

Whale tracker Lookonchain flagged a couple of significant FARTCOIN sales in the past few days, raising the alarming possibility that the meme token would soon be plunging.

Yet it has continued to climb higher, as if the coin has entered a new phase of price discovery.

Such is its momentum right now that more than a few Crypto Twitter profiles are predicting that it will soon pass $1, with some also saying that now is the last chance to buy it below this level.

However, today has also seen another whale sell a considerable quantity of FARTCOIN, reminding us that the coin’s ascent could be stalled at any time if enough large traders decide to take profits.

And if we look at FARTCOIN’s chart, it is in an overbought position at the moment, implying that it doesn’t have too long left before it should come down again.

For instance, its 30-period average (orange) has been above the 200-period (blue) for almost a month, suggesting that a selloff may be coming.

Likewise, its RSI (purple) topped 75 a few days ago and remains high, another sign of relative overbuying.

On the other hand, the token is still 62% down on its ATH of $2.48, so some may argue that it’s still very much undervalued.

If so, it could potentially reach $1.50 in the next month or so, particularly if the recent tariff situation stabilizes further.

Alternative Alts for Market-Beating Gains

Because FARTCOIN could be on the brink of a comedown, some traders may prefer to turn to newer alternatives already.

Finding the most promising new coin, however, can be tricky, given the sheer number of tokens available.

But one way of increasing your chances is to look for big presales, with heavily subscribed sales sometimes indicating that the corresponding coin may rally strongly once it lists for the first time.

This is something that could happen with Solana-based layer-two platform Solaxy (SOLX), which has now raised just over $30 million in its hugely successful ICO.

As Solana’s first L2 network, Solaxy will provide users with low transaction fees and superior confirmation times, helping them to avoid some of the delays and congestion that can affect its parent chain during peak periods.

Solaxy will also offer instant bridging between itself and Solana, enabling it to become an integrated part of the Solana ecosystem.

This should see it become a key ecosystem for meme tokens and DeFi, which continue to be a key part of Solana’s network.

And given that you will need to hold SOLX to pay for the L2’s transaction fees, demand for the token could be high.

Investors can join its sale by visiting Solaxy’s official website, where SOLX currently costs $0.001694.

This price will rise later today and will continue to rise until the sale ends, at which point the coin will list on exchanges.

The post Fartcoin Faces Massive Whale Exit – But Analysts Still See Triple-Digit Upside appeared first on Cryptonews.

Nigerians across different social media platforms have begun to quantify their losses after a digital asset trading platform called CBEX  locked them out of their accounts. The platform has allegedly drained over $809 million from its investors’ accounts. 

Investors were sold the same old scam story: if they put money in the company, their money would double every month. 

Some users have put up videos of themselves crying because they couldn’t withdraw money from their accounts and were afraid it was gone. One user said, ” I was invited to CBEX all in the name of making enough money […] only to wake up today and discover that all my $4000 is gone”

An angry customer broke into a CBEX office in Ibadan in the southwest of the country and stole chairs, air units, and a solar panel. 

Others are still holding on to the thought that there could be technical issues. Those who made complaints on the private messaging service Telegram received responses from CBEX. They were told that the problem resulted from a hack and that things will be resolved soon. 

The worst mistake you will make is to make this payment to CBEX. Na second billing be this.

If you dey street, you go understand 🤣 pic.twitter.com/4ro5Etgw7S

— IRUNNIA (@Irunnia_) April 14, 2025

Meanwhile, CBEX has locked its Telegram channels and postponed its withdrawals while giving investors the lifeline of $2,000 for $200 verification and $1,000 for $100 verification.

CBEX was designed to appear like ByBit

The platform was a scam from the get-go. It was not a licensed platform and was designed to look like ByBit, which is a real trade platform.

In addition, they built the website to be weak so that users would think it was a security breach in the future. In addition, when users send money into a TRX account, the platform’s runners immediately withdraw it from the TRX wallet, convert it to USDT and then to ETH. 

Data has shown that the money was moved to a TRX address, and the total volume stolen in USDT is over $800 million.

This explains why there is no money on users’ pages when they log into their accounts. There are only numbers there. Every trade made by AI is fake. They send users someone else’s money when it’s time to cash out.

CBEX admin just moved 822 million dollars (Over 1 trillion Naira) into a private ETH wallet pic.twitter.com/9iar4ZH1BV

— Judebest O (@JudebestO) April 15, 2025

This is not a first for Nigerians. For some, it reminds them of a popular Ponzi scheme called MMM. It froze its transactions, bringing losses to many. Members were supposed to receive a 30% return on their investment in just 30 days, just like CBEX’s duration.

Nigeria’s SEC sets new regulations 

Nigeria’s SEC made it clear that, according to the ISA 2025 that President Bola Tinubu just signed, it is now illegal for any organization to run an online forex trading platform or offer related services without first registering with the commission.

In a statement, it said, “By virtue of this Act, it is an offence in Nigeria for any entity that is not registered by the commission to carry out the business of online foreign exchange trading platforms or related services.”

“Any business entity with the plan of setting up a business in any of these areas is advised to visit the HOD DRM Department of the commission for further direction on how to register with the commission to avoid sanctions,”  it added.

Dr. Emomotimi Agama, the director general of the commission, said that the new rule was “a landmark step toward making Nigeria’s capital market more inclusive, robust, and in line with best practices around the world.” The commission reaffirmed its commitment to supporting innovation while maintaining strict oversight. 

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