TRON CEO's new stablecoin JUST sold out in under 5 minutes!

Rajan Dhall, MSTA FX Daily

Tron CEO Justin Sun has announced today on Twitter that his new stablecoin JUST (USDJ) sold out in under five minutes.

This was the first token issued on Poloniex’s IEO platform LaunchBase. At the moment Sun and TRON are currently in the middle of a lawsuit alleging the sale of unregistered securities in the United States.

The new stablecoin is pegged to the US dollar and was the first token launched on the crypto exchange Poloneix’s new Initial Exchange Offering (IEO) platform LaunchBase.

Poloniex, which Sun holds shares in, said last month that the stablecoin would be generated from Tron tokens (TRX) through a Collateralized Debt Position on the stablecoin’s JUST platform.

$JST Token sale is complete. Finished in 4 minutes 26 seconds. @Poloniex
— Justin Sun (@justinsuntron) May 5, 2020

$JST tokens sold out in 4 minutes 26 seconds! pic.twitter.com/FvjwWjACbI
— Poloniex Exchange (@Poloniex) May 5, 2020

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

XRP falls toward $1.00 amid muted ETF activity

Ripple (XRP) edges lower toward the short-term $1.05 psychological support level at the time of writing on Wednesday. This marks three consecutive days of losses, undermining investor interest and the broader optimism for a potential deal between the United States (US) and Iran to reopen the Strait of Hormuz.

Swiss-based Taurus gives banks access to Hedera via unified digital asset platform

Taurus, a Switzerland-based digital asset infrastructure provider, announced on Wednesday that it has extended its services, targeting banks and regulated financial institutions on the Hedera (HBAR) network. Meanwhile, HBAR is paring losses, trading above $0.0650 at the time of writing. The token shows signs of stability amid a broader bearish trend.

Crypto markets trade muted, lag risk rally

Whilst hopes for a US-Iran agreement to revive the Strait of Hormuz and renewed AI-trade optimism lifted US equities to all-time highs, major cryptocurrencies remained largely sidelined on Wednesday. Bitcoin and Ether hovered near $64,000 and $1,800, respectively, extending their recent period of consolidation rather than participating in a broader risk rally they would normally follow.

Crypto Today: Bitcoin, Ethereum advance while XRP lags amid US-Iran deal optimism

Bitcoin (BTC) hovers near $64,000 at the time of writing on Wednesday, buoyed by a marginal improvement in crypto sentiment amid growing optimism that the United States (US) and Iran could potentially reach an agreement to open the Strait of Hormuz this week. Ethereum (ETH) mirrors Bitcoin’s neutral-to-bullish outlook, trading toward $1,900.

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.