HomeFinance NewsDeFi Altcoin Gains 22% Amid New Mining Rewards Rollout

DeFi Altcoin Gains 22% Amid New Mining Rewards Rollout

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The native altcoin for a decentralized finance (DeFi) ecosystem built on the Tron (TRX) blockchain, called JUST (JST), experienced a significant surge of over 22% in value within a single day. Currently trading around $0.0275, JST’s price increased from $0.0225 just a day ago, outperforming the majority of the cryptocurrency market. JUST aims to offer comprehensive financial solutions through Tron-based DeFi protocols. The surge in JST’s price coincided with the launch of new mining rewards on its lending platform, JustLend DAO, where liquidity providers can now earn additional mining rewards denominated in Tron’s stablecoin, USDD. Despite the recent increase, JST is still down over 85% from its all-time high in April 2021.

In addition to JST’s price surge, Tron’s native asset, TRX, also experienced a positive day, jumping by 3.66%. Currently ranked 11th by market capitalization, TRX is trading at $0.089. This news highlights the growing popularity and potential profitability of the Tron blockchain and its associated DeFi ecosystem. It also demonstrates the impact of new mining rewards on the value of native altcoins. However, it should be noted that JST’s current price is still significantly below its all-time high, indicating that there may be further room for growth in the future.

Overall, the surge in JST’s price can be attributed to the introduction of new mining rewards on JustLend DAO, providing additional incentives for liquidity providers. This development reflects the ongoing efforts of the Tron blockchain to establish itself as a leading platform for decentralized finance. As the popularity of DeFi continues to grow, projects like JUST are well-positioned to capitalize on the demand for all-in-one financial solutions. Investors and traders will be closely watching the performance of JST and other altcoins within the Tron ecosystem to gauge the potential for further growth and investment opportunities.

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