Deep Dive
1. Exchange Delistings (Bearish Impact)
Overview:
OKX delisted JST from margin trading pairs (August 28) and perpetual futures (August 29), followed by spot trading removal on September 8. These moves reduce liquidity and signal reduced institutional confidence.
What this means:
Delistings force holders to sell or transfer assets, creating concentrated sell pressure. JST’s 24h volume spiked 103% to $30.9M, likely reflecting panic exits. Thin liquidity post-delisting also amplifies price swings.
What to watch:
Whether other exchanges follow OKX’s lead – a key risk for JST’s market access.
2. USDJ Stablecoin Sunset (Bearish Impact)
Overview:
TRON’s USDJ stablecoin officially shut down on August 31, 2025, with final liquidations extended to September 30. USDJ was a core product in JUST’s DeFi ecosystem.
What this means:
JST lost a major use case (governing USDJ’s parameters) and faces reduced demand for collateral activities. The extended deadline has kept selling pressure alive as users unwind positions.
What to watch:
Migration to USDD (TRON’s replacement stablecoin) – low adoption could prolong JST’s bearish trend.
3. Technical Breakdown (Mixed Impact)
Overview:
JST trades below key moving averages (30-day SMA: $0.0342) with RSI at 34.99 – nearing oversold levels. MACD histogram remains negative, signaling bearish momentum.
What this means:
While oversold conditions could trigger a bounce, the lack of bullish divergence suggests weak buying interest. Immediate resistance lies at the 23.6% Fibonacci retracement ($0.0368).
What to watch:
A sustained break below $0.0313 (September 25 low) may trigger algorithmic sell orders.
Conclusion
JST’s decline reflects shrinking exchange support, fading ecosystem utility, and technical pessimism. While oversold conditions might invite short-term traders, the absence of fresh catalysts (e.g., new partnerships, product launches) limits upside potential.
Key watch: Can JST hold the $0.0313 support level, or will forced liquidations from the USDJ sunset drive a deeper drop? Monitor TRON’s developer activity for signs of renewed DeFi innovation.