In summary:
- On the 5th of May, the Tron based project of Just (JST) held its IEO on the Poloniex exchange.
- The crowd sale even lasted only 4 minutes and 26 seconds.
- Upon listing today on the various platforms, the token has done a cool 20x in returns on the MXC Exchange.
- The unit price of JST was $0.00202 and it has peaked on Poloniex with returns of 5.9x.
Initial Exchange Offerings (IEO) have become a more common and secure way for retail investors to participate in crowdfunding events. The process of crypto exchanges hosting a token sale was initially popularized by Binance. However, and with time, other exchanges such as Poloniex, have added IEOs as a service to their users. Poloniex recently launched its Launch Base platform with the first IEO being the Tron (TRX) based DeFi project of Just (JST).
IEO Concludes in Under 5 Minutes
As with all prominent IEOs, Just (JST) sold out in under 5 minutes. According to Poloniex, the token sale sold out in 4 minutes and 26 seconds.
20x in Returns Upon Listing of Just (JST)
IEOs possess a huge potential for returns and it is no surprise that Just (JST) has broken records by trading at 20x the token sale price of $0.00202 on the MXC exchange. As soon as the token was listed on the MXC Exchange earlier today (14:00 UTC), it peaked at an All-time-high of $0.04.
Justin Sun and the team at Just (JST) Celebrate the Achievement
The team at Just (JST) was in a celebratory mood as can be seen in the screenshot below.
Justin Sun also expressed his delight at the achievement via the following tweet.
.@DeFi_JUST highest performance is 20 times in @MXC_Exchange, @Poloniex. Now stable in 5 times. #JUST $JST #JST
— Justin Sun (@justinsuntron) May 7, 2020
Performance of Just (JST) on Poloniex
Further checking the performance of the token on the Poloniex exchange, we find that it also peaked upon listing at a value of $0.011918. This value is a cool 5.9x the IEO price of Just (JST). At the time of writing this, the token is trading at a stable range of around $0.009.
(Feature image courtesy Unsplash.)
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
