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.
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.
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.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Under-the-Radar DeFi Altcoin Surges by 22% on Friday Amid the Rollout of New Mining Rewards appeared first on The Daily Hodl.
