- Justin Sun said JST could be the “next 100x token”, citing JustLend and JST’s recent performances.
- According to Sun, JustLend is projected to generate over US$100M in annual revenue and plans to use profits for JST buybacks and burns to boost the token’s value.
The controversial TRON founder, Justin Sun, believes the JST token is undergoing a “complete fundamental reversal” that could turn it into the “next 100x token”.
This comes as the TRON ecosystem is expanding, primarily thanks to JustLend, which JST incubated.
The Next 100x
JustLend is one of the biggest DeFi protocols in the industry, currently amassing over US$3.7B (AU$5.8B) in total value locked (TVL).
In a recent X post, Sun pointed to the platform’s success, which is a TRON-based permissionless lending platform, as a key driver of JST’s turnaround.
JustLend is popular due to its user-friendly dashboard and, primarily, its massive yields, offering lenders up to 30%. Further, Sun claimed JustLend has already generated “tens of millions of dollars” in net profit, and projected over US$100M (AU$1.57M) in annual revenue for the Just ecosystem moving forward.
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.
Justin Sun, TRON founderUSDD, which is an algorithmic stablecoin launched under the JustLend platform and managed by the TRON DAO Reserve, can offer over 20% in yields, as Sun said in a blog post in February.
That is quite interesting: an algorithmic stablecoin that offers exaggeratedly high yields and is backed by a very questionable founder. Where did I see that before in this industry?
Anyway, Sun added that JST “will eventually use all its profits to buy back and burn JST tokens at the appropriate time”.
Sun is expected to attend the exclusive dinner that Donald Trump will host in May, alongside 200 other top TRUMP token holders. Talking about the TRUMP coin, its price recently dropped quite hard. It seems like the promise of special access to Trump has lost a bit of its appeal.
Related: Sui Soars 43%: Here’s Why the 12th-Largest Crypto is Making Massive Gains
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