Fasttoken (FTN), the original token in the Fastex ecosystem, rose nearly 200% on December 18 and significantly outperformed the broader cryptocurrency market, which largely remained in the red.
FTN jumped from around $0.37 to over $1.30 within 24 hours, making it one of the day's best-performing cryptocurrencies. The rise occurred without any major announcements, suggesting that it was a technical and sentiment-driven move, rather than a fundamental reassessment.
Fasttoken is the utility token for the Fastex ecosystem, developed by SoftConstruct. It powers the Bahamut blockchain, an EVM-compatible Layer-1 network that uses a Proof-of-Stake and Activity (PoSA) consensus model.
FTN is used for transaction fees and staking on Bahamut, payments via Fastex Pay, trading on the Fastex exchange, as well as NFTs, gaming, and other Web3 applications in the ecosystem.
SoftConstruct, the parent company of Fastex, operates in payments, gaming, and IT infrastructure, giving FTN exposure beyond just one product line.
The sharp rise comes after a brutal decline through 2025.
Earlier this year, FTN traded over $2.00, but was steadily sold down after:
Large Token Unlocks came into circulation
Risk aversion dominated altcoins
Exchanges issued warnings, including MEXC's 'Special Treatment' label
By mid-December, FTN had lost over 90% of its value, dropping to an all-time low between $0.25 and $0.37. Many traders had written off the token.
Why is Fasttoken rising today?
There was no single catalyst behind FTN's sudden rise. Instead, it is likely that several factors contributed to this movement.
FTN's prolonged sell-off created extremely oversold conditions. As the token reached new lows, buyers came in looking for a short-term rise. In thin markets, even moderate buying can lead to significant price movements.
Earlier this month, concerns arose when MEXC marked FTN for potential risk control. By mid-December, there were no delistings. This relief seems to have encouraged traders who were previously on the sidelines.
FTN trades on a limited number of platforms, with liquidity concentrated on a few exchanges. Low liquidity often increases volatility, allowing prices to rise quickly when momentum takes off.
The rally also coincided with renewed discussion around Fastex's broader infrastructure, including Bahamut, Fastex Pay, NFTs, and gaming integrations. Although none of these developments were new, they provided narrative support as price movements accelerated.
No major announcements, high volatility persists
Despite the strong rise, there was no official update, new partnership, or protocol change announced on December 18. This suggests that the rally was primarily driven by technical rebound, market psychology, and short-term speculation.
The most remarkable thing is that Fasttokens X (formerly Twitter) has been inactive since the end of September.
Fasttoken's last X post was in September
Analysts warn that such rises after sharp declines can be volatile. FTN still faces future Token Unlocks and must show sustained user growth to support higher valuations.
Currently, Fasttoken's rise appears to be one of the most dramatic movements in an otherwise cautious crypto market, but how lasting it will be remains to be seen.