Just (JST): the price of cryptocurrency soars
Just (JST): the price of cryptocurrency soars
Stable Coin

Just (JST): the price of cryptocurrency soars

By Alfredo de Candia - 12 Aug 2020

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Yesterday the cryptocurrency Just (JST) was listed on the famous Binance exchange and, as often happens when listing on a major platform, its price flew, marking a weekly gain of over 200%.

On the same day, the listing of Just was also announced by Gate.io and Huobi Global. 

The news was appreciated by the market. In addition to the increase in price, the Just cryptocurrency has gained a place in the top 100 of the CoinMarketCap ranking.

What is Just (JST)?

Just (JST) is a token based on the TRC-20 standard, so it’s not a simple token like the TRC-10.

It has a total supply of 9.9 billion, while the circulating supply is 1.4 billion which is divided into just under 300 thousand addresses: in fact, this token is airdropped to everyone who has at least 100 TRX on their address.

What is JST used for?

This token performs 2 main functions in Just, which is the protocol for generating the stablecoin USDJ by putting TRX as collateral.

These are:

  • Governance for proposals which are made and then voted upon;
  • Stability fee payment for CDP borrowing.

For example, on the Just platform, there is a section dedicated to governance where it is possible to see both past and current votes.

So far there have been two important votes: one was in March, which brought the stability fee to 0.5% and the debt ceiling to $10 billion USDJ, while another was in mid-April and concerned the price of the JST token at $0.003.

How much is Just (JST) worth?

Because of JST’s huge supply, the price has been affected, partly because it is also given away every month in the form of airdrops.

This is not allowing it to reach interesting figures, but it can be observed that since the beginning of August, the token has been soaring from about $0.007 to reach its ATH (All Time High) record yesterday at $0.09.

This is an increase of 1185%, which is really impressive, although it is still far from tokens that resemble it such as MKR, COMP, LEND, YFI.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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