Opinion: Cryptocurrency has entered the "fart coin" stage of the market cycle

Odaily Planet Daily News: "We have reached the 'Fartcoin' stage of the market cycle," David Einhorn, billionaire founder of Greenlight Capital, wrote in his latest letter to investors. "Fartcoin" is a digital currency created at the end of 2021, and its nominal value has soared to more than $1 billion. The hedge fund manager emphasized that although "Fartcoin" has no obvious utility other than trading and speculation, it has joined the latest meme coin craze and followed in the footsteps of Dogecoin. Dogecoin is a cryptocurrency created more than a decade ago, and its purpose is also to mock cryptocurrency and promote speculative trading. So far this year, "Fartcoin" has risen by nearly 60%. However, David Einhorn wrote that "Fartcoin" has no obvious use in other aspects except trading and speculation. (CNBC)