The TRON-based project JUST (JST) was listed on CoinMarketCap – suspected fake volume on BiKi exchange

By Selena 05/12/20 5:36 AM

As AZCoin News reported, the TRON-based DeFi project Just (JST) recently held its IEO on the Poloniex exchange. According to Poloniex, the token sale sold out in 4 minutes and 26 seconds. 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, it rose to an all-time high of $ 0.04. And now, with these achievements and the efforts of Marketing tycoon Justin Sun, JUST (JST).

???#JUST was included by @CoinMarketCap.https://t.co/Enj0uHwUuX

This is just a beginning?

For more info about #JUST, please search #JST on https://t.co/iR54I1XuPz pic.twitter.com/5xq74Hd53h

— Justin Sun (@justinsuntron) May 12, 2020

Justin Sun: JUST token was listed on CoinMarketCap

At press time, JST has increased by nearly 30%, about 26.69% in the last 24 hours before the news. In terms of trading volume over the last 24 hours, $ 55,775,179 worth of JST has been traded. The current JUST price is $ 0.008228, with an all-time high of $ 0.009583 on May 07, 2020.

According to statistics from CoinMarketCap, JUST ROI is fluctuating around 307.34% with a market rank of 385. This is an impressive achievement for a project that has only been launched a few months.

Source: CoinMarketCap

However, if you look at statistics from CoinMarketCap, you can see the absurdity in trading JST. Accordingly, although Poloniex is the exchange that organized the first IEO for JST with the LaunchBase token sale platform which was launched at the beginning of April.

$JST tokens distributed!?

Winning participants from the token flash sale, will now be able to see your $JST in your #Poloniex account?

Once $JST is listed on #Poloniex, full trading, withdrawals, and deposits will be enabled.

— Poloniex Exchange (@Poloniex) May 5, 2020

But, we can see that the volume on Poloniex is extremely low, even though it has synthesized both JST/BTC and JST/TRX trading pairs.

Source: CoinMarketCap

Meanwhile, the BiKi exchange has a JST/USDT pair with a 24-hour trading volume of $ 54,950,923, accounting for 98.52% of the total volume on the JST-traded exchanges.

Learn about BiKi exchange, according to CoinMarketCap, BiKi.com is a centralized exchange that provides a digital assets platform for trading more than 150 cryptocurrencies and 280 trading pairs.

Since its official opening, BiKi.com claims to have accumulated 2 million registered users, 200,000 daily active users, over 2,000 community partners, and 200,000 community members. These are too great achievements for a fledgling trading platform.

According to statistics from CoinMarketCap, BiKi reports up to $ 2,529,535,165, or 289,118 BTC/day. With all of this in mind, it is quite possible to suspect that the BiKi exchange is trying to fake the volume. And this seems to be quite familiar with cryptocurrency users. This again proves that CoinMarketCap has not done a good job of controlling the transparency of exchanges.