Fasttoken (FTN), which is the main coin of the Fastex ecosystem, surged nearly 200% on December 18, managing to outperform the overall cryptocurrency market, which remained significantly in the negative.
FTN jumped from approximately 0.37 USD to more than 1.30 USD within 24 hours, making this coin one of the best-performing cryptocurrencies of the day. This event occurred without any significant announcements, indicating a technical upward movement and market sentiment, rather than changes in fundamental factors.
Fasttoken is the utility coin of the Fastex ecosystem, developed by SoftConstruct, and is the driving force behind the Bahamut blockchain, which is a Layer-1 network supporting EVM and uses the Proof-of-Stake and Activity (PoSA) consensus mechanism.
FTN is used for transaction fees and staking on Bahamut, payment through Fastex Pay, trading on the Fastex exchange, as well as NFTs, games, and other Web3 applications within the ecosystem
SoftConstruct, the parent company of Fastex, also operates in payment, gaming, and IT infrastructure, which gives FTN support that is more diverse than a single product.
This sharp upward adjustment follows a significant decline throughout 2025.
Earlier this year, FTN traded above 2.00 USD, but the price has gradually declined due to:
A large number of coins have been unlocked into the market.
The risk atmosphere dominates the altcoin market
The exchange board issued a warning notice, including the tag 'Special Treatment' of MEXC
By mid-December, FTN had lost over 90% of its value, temporarily hitting an all-time low between USD0.25 and USD0.37. Many traders have lost interest in this token.
Why did Fasttoken surge today?
There is no single incentive factor behind the rapid surge of FTN, but rather a combination of several factors that are likely to stimulate this movement.
The continuous selling of FTN has clearly resulted in an oversold situation, and when the token hit an all-time low, investors began to buy in hopes of short-term speculation. In a market with low liquidity, even moderate buying pressure can lead to drastic price movements.
Earlier this month, concerns arose after MEXC monitored FTN for potential risks, but as of mid-December, no tokens have been removed from the market, and this relief seems to have prompted previously hesitant investors to re-enter the market.
FTN is traded on only a few platforms, with most liquidity concentrated on certain exchanges. Low liquidity often leads to expanded price volatility, with prices able to surge rapidly once an upward trend begins.
This price rebound has also coincided with new discussions about the broader infrastructure of Fastex, be it Bahamut, Fastex Pay, NFTs, and gaming integration. While none of these are new developments, they support the narrative as the price continues to rise.
No significant announcements yet; high volatility remains.
Despite the sharp increase, there has been no official update, no partnership announcements, or protocol changes on December 18. This suggests that the surge is likely a result of technical recovery, market psychology, and short-term speculation.
Notably, Fasttoken's X account (formerly Twitter) has been inactive since late September.
The last post on X from Fasttoken was in September.
Analysts warn that rebounds like this after a sharp price drop tend to be particularly volatile. FTN also has token unlocks in the future and must demonstrate continuously increasing utility to support a higher value.
Importantly, Fasttoken's surge at this time is considered the most attention-grabbing in the crypto market, which is currently very cautious, but sustainability remains uncertain.