The native altcoin for a decentralized finance (DeFi) ecosystem built on the Tron (TRX) blockchain rose more than 22% in a single day amid the rollout of new mining rewards.
The governance token for the DeFi platform JUST (JST) is trading around $0.0275 at the time of writing, compared to around $0.0225 a day ago.
The 123rd-ranked crypto asset by market cap outpaced the vast majority of the rest of the crypto market, which largely tracked sideways on Thursday and Friday.
JUST aims to provide “all-in-one financial solutions” to its users through the development of Tron-based DeFi protocols, according to the project website.
JST’s price increase came about when the project’s lending platform, JustLend DAO, launched new mining rewards.
The project notes that miners who provide liquidity on JustLend DAO will now receive additional mining rewards denominated in Tron’s stablecoin USDD, in addition to the offering interest. USDD aims for a 1:1 peg to the US dollar.
Despite the price surge in recent days, JST still remains more than 85% lower than its all-time high of over $0.193, which it reached in April 2021.
Tron’s native assets (TRX) also had a positive day on Friday, rising 3.66%. The 11th-ranked crypto asset by market cap is trading at $0.089 at the time of writing.
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Generated image: Midjourney