Triaconta Weekly #210

The following topics will be addressed in this weekly.

  • Bundle performance
  • Winners & Losers
  • New crypto: Just (JST)

Bundle performance
The big Miami Bitcoin conference unfortunately did not bring a surge in price for the crypto market. More than a hundred companies gave presentations. The main focus was on the future of Bitcoin mining as a supporter and driver of the transition to renewable energy and expansion of the applications of the Bitcoin Lightning network. It was not high-profile enough to cause crypto prices to rise, quite the opposite. What also doesn’t help is “Tax season”, this week many Americans are paying their capital gains taxes. For now they are still doing that in dollars, so for that they have to sell crypto. In the second half of the week we see recovery but not enough for a positive weekly result in the bundles.

Big 3:
1 Month: +10.02% | 7D: -5.69% | 24H: +0.70%

Top 30:
1 Month: +14.55% | 7D: -9.91% | 24H: -0.83%

Penny stock:
1 Month: +33.04% | 7D: -13.17% | 24H: -1.99%

1 Month: +17.10% | 7D: -13.21% | 24H: -2.99%

Winners & Losers
Bitcoin (-6%) and the whole market fell quite a bit this week and then rose again which technically means a higher bottom. So we can remain positive for the time ahead. There is a lot of difference between the projects so the newly added Just (+8%) to PennyStock is up the most this week and the simultaneously added in the same bundle JasmyCoin (-33%) is losing the most. Even more coins on sale right now are Waves (-25%), Ren (-22%), (-20%) and surprisingly Terra (-17%).

New crypto: Just (JST)
The next generation of DeFi applications runs best on the TRON blockchain, according to Justin Sun. Without getting too worked up about accusations that all this already existed and some functionality seems to have been literally copied, Justin Sun is making a combination of Maker, Compound, Uniswap and Chainlink into an all in one solution for financial services on Tron’s fast and low cost network. He has formed a healthy DeFi ecosystem with SUN and JST tokens as the main tokens. In the future, SUN will be a symbol of the decentralized trading platform with SUNSwap (formerly JustSwap) integrating the trading of all TRC-20 tokens. JST is the basis of Tron’s JUST ecosystem, where stablecoin USDJ is formed and its link to the dollar is maintained by smart contracts. JST is most important to JustLend and is the platform token of Tron’s decentralized lending protocol, which is the basis of the entire decentralized financial ecosystem on Tron.

A stablecoin pegged to the dollar is needed in any financial system. USDJ stablecoin is available worldwide, and of course opening an account is free. Like Terra’s LUNA and UST, JUST and USDJ are the two tokens that make it work.

The first platform on Tron where users can borrow and save at a variable interest rate. Because of the Tron network, the processing of each transaction is fast and cheap. Supply and demand are automatically matched at competitive interest rates. The total savings volume of now $1.9 billion consists mainly of BTC (45%), USDT (15%) and Tron (10%).

SunSwap (formerly JustSwap).
JustSwap was acquired by in Oct. 2021 and has continued as SunSwap ever since. The acquisition of JustSwap by represents a tight integration of the advantages of the two platforms, which will reinforce each other.

The first decentralized blockchain oracle on the Tron network that can securely provide smart contracts with real-world data. Think credit prices, stablecoin exchange rates, derivatives prices, market estimates, etc. JustLink has been the competitor to Chainlink on the Tron network since October 2020. It uses game theory to motivate providers to provide correct data. If not, they lose the reserve in JST that they must hold in order to offer data. This system increases the demand for JST as more and more providers start using the network and even more as the number of data users grows.

Cross-chain tokens
All major crypto-currencies are connected to the Tron network with a bridge. A TRC-20 token is created for your Bitcoin, Ethereum, Litecoin or Doge and the token can then be simply moved through the Tron network or used in all DeFi, Games and other applications.

Just future
JST is traded on almost all major exchanges. As long as the Just Foundation continues to rank high on social media, the number of users of DeFi applications on Tron will increase. Just can benefit from expected growth in the DeFi sector and stablecoins and has synergy with developments in the Tron domain from NFT and GameFi to Bittorrent. That dependence also means that if there is less trust in Tron it will have an effect on Just, just as less trust in Ethereum has an effect on the projects that use that network. However, Tron has been in our Top 30 bundle since February 2018 for good reasons.

Just price
To determine the value of DeFi projects, we look at the total value locked and at the ratio of volume to market capitalization. Regarding the latter, according to analysts, Just is now undervalued due to its relatively high daily volume for its current market value. In the past 30 days, JST volume was even higher than COMP while Compound’s market capitalization is 65% higher. Sentiment is also important for valuation and Compound has been doing this since 2017 but a 65% increase in price to an equal market value would be warranted without question from this analysis.
If we look at the accumulated locked value across the Just Defi group we see that it is comparable to Compound. If we look at JustLend alone it is about a third and so the success of stablecoin USDJ, Oracle JustLink and the synergy from the whole Tron and Just ecosystem are going to make the difference in the future with other projects that only do 1 thing.

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