Armenian cryptocurrency Fasttoken continues rapid decline

Armenian-issued cryptocurrency Fasttoken (FTN) continues its steep decline, falling to its lowest value since launch. The token slid by around 42% in the past 24 hours alone, currently trading at approximately $0.82.

The downturn has been sustained across longer time frames as well. Over the past week, FTN fell by more than 52%, declining by over 56% over the past month. Its year-on-year decline now exceeds 74%.

In comments to Panorama.am in late September, Fasttoken representatives attributed the more than 50% devaluation to large-volume FTN holders selling their positions en masse. This heavy offloading “put significant downward pressure” on the token’s price, the company said.

The fall contrasts sharply with broader cryptocurrency market trends, where major digital assets have shown relative stability or even upward movement.

Fasttoken is the official cryptocurrency of SoftConstruct, a technology company owned by businessman Vigen Badalyan, who is also Fasttoken's founder and CEO.