JustLend DAO Completes 5.3% Token Buyback and Burn Worth $21 Million
- Token Buyback and Burn: JustLend DAO completed its second buyback and burn, permanently removing 525 million JST tokens valued at approximately $21 million, representing 5.3% of total supply, reflecting its commitment to maintaining a deflationary token supply.
- Ecosystem Growth: The total value locked in the JustLend DAO ecosystem surpassed $7.08 billion, consistently ranking among the top three decentralized lending markets, indicating a solidified and expanding market position.
- Product Diversification: The introduction of sTRX Staking and GasFree Smart Wallet has led to over 9.3 billion TRX staked and $46 billion in transaction volume processed, significantly enhancing user experience and reducing transaction costs.
- Positive Market Response: JST's market capitalization surpassed $400 million for the first time, with a 21.92% increase in 24-hour trading volume to $31.49 million, and a 10.82% price increase over the past month, demonstrating strong market reaction to the buyback and burn.
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Technical Analysis for TRX
Technical Sentiment Analysis for TRON (TRX) As of , TRON (TRX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TRX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TRX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
TRON (TRX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.242 | 0.255 | 0.268 | 0.281 | 0.294 | 0.307 | 0.32 |
| Fibonacci | 0.255 | 0.265 | 0.271 | 0.281 | 0.291 | 0.297 | 0.307 |
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