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- Tron founder Justin Sun has predicted that JST (JUST) could surge by 100X as its current level shows a “complete fundamental reversal.”
- He has also estimated the revenue next year to exceed a conservative amount of $100 million.
JST (JUST) has significantly grown to become one of the biggest Decentralized Finance (DeFi) protocols with a total value locked of $3.7 billion. Fascinatingly, its transformation has excited the Tron ecosystem with co-founder Justin Sun tipping it for success.
The Details
Speaking on X, Sun, who appeared impressed with the growth of JUST, predicted that the asset could become the next 100X token. According to him, this remarkable feat is a manifestation that the asset has undergone a “complete fundamental reversal.”
Incubated by JST, JUST was highlighted to have evolved to a feat where it can rub shoulders with industry heavyweights while generating tens of millions of dollars in net profit. Meanwhile, it recently incubated USDD, which, according to Sun, does not need further elaboration.
Our research shows that USDD is an algorithmic stablecoin that is managed by the Tron DAO Reserve. According to a blog post written by Sun in February, this addition offers more than a 20% yield with a market cap of $348 million.
As discussed in our earlier news story, Sun has pledged they expand the usage of USDD across various blockchains. In the end, all the profits generated would be used to buy back and burn all JST tokens. According to him, JST’s annual revenue could increase to more than $100 million next year.
JST has essentially become a combination of Tron’s AAVE and MKR, with annual net profits reaching tens of millions of dollars and continuing to grow. Next year’s conservative revenue forecast will exceed $100 million, and the current valuation is very small compared to that.
Commenting on this, crypto analytics platform Oracul Analytics pointed out that the “buy back and burn” program would “add a deflationary element to the token”, subsequently, driving up demand for a possible price surge.
Justlend has, over the years, operated similarly to the other lending protocols, providing the grounds for traders to use their assets as collateral. Additionally, it exists as a liquidity provider, owning a collection of wrapped tokens such as a version of jUSDT.
Amidst the backdrop of this, Sun is currently embroiled in a legal battle in Hong Kong after the First Digital Trust (FDT) sued him for defamation, as previously mentioned in our blog post.
Price Reactions of JUST and TRX
At press time, JUST was trading at $0.037 after recording a 20% surge in the last seven days and an 18% surge in the last 30 days. However, its 24-hour performance has been an eyesore as it declined by 10.4%. Its daily trading volume has also “printed” a whopping 50% upsurge with $343 million moving around the market.
JUST’s growth has also influenced the position of the Tron (TRX) token, becoming the 10th largest coin with a market cap of $23.3 billion. According to our market data, TRX has surged by 0.6% in the last seven days and declined by 1.88% in the last 24 hours to trade at $0.24. According to our recent analysis, TRX could hit $1 as rumours of a Possible Exchange Traded Fund (ETF) move intensify.
