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Altcoins
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September 30, 2023

Under-the-Radar DeFi Altcoin Surges by 22% on Friday Amid the Rollout of New Mining Rewards

By Daily Hodl Staff

The native altcoin for a decentralized finance (DeFi) ecosystem built on the Tron (TRX) blockchain surged by over 22% in one day amid the rollout of new mining rewards.

The governance token for the DeFi platform JUST (JST) is trading around $0.0275 at time of writing, up from around $0.0225 one day ago.

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The 123rd-ranked crypto asset by market cap outpaced the vast majority of the rest of the crypto marketplace, which largely tracked sideways on Thursday and Friday.

JUST aims to provide “all-in-one financial solutions” to its users via the development of Tron-based DeFi protocols, according to the project’s website.

JST’s price jump materialized as the project’s lending platform, JustLend DAO, launched new mining rewards.

The project notes that miners who supply liquidity on JustLend DAO will now gain additional mining rewards denominated in Tron’s stablecoin USDD, in addition to the supply interest. USDD aims to maintain a 1:1 peg to the US dollar.

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Despite its price increase in recent days, JST still remains more than 85% down from its all-time high of more than $0.193, which it hit in April 2021.

Tron’s (TRX) native asset also had a positive day on Friday, jumping by 3.66%. The 11th-ranked crypto asset by market cap is trading at $0.089 at time of writing.

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