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.)