Tron-based tokens sell at 1200% premium as FTX users scramble to exit

The JST token in particular is trading for a premium of around 1200%, while BTT and TRX have inflated at least 500 % each. New

Tron-based tokens such as JUST (JST) have surged up to 1000% on FTX as users scramble to find ways to extract stranded liquidity from the beleaguered exchange.

At the time of writing, Tron's native TRX token is trading at around $0.33 on the FTX exchange, more than five times its current market price, according to CoinGecko.

Meanwhile, BitTorrent (BTT), JUST (JST) and the Sun Token (SUN) are trading on the exchange at premiums ranging from 525% to 1196% to the market price. As things stand, prices are extremely volatile and constantly changing.

The overinflation of Tron-linked tokens comes after an agreement was reached on November 10 that allows holders of assets such as TRX, BTT, JST and SUN to withdraw funds.

The move caused traders on FTX to raise the price of Tron-linked tokens to be able to recover their stranded funds. However, buying the tokens at the inflated price will likely lead to significant realized losses if they then sell them on another exchange.

This means that FTX customers get pennies on the dollar while Tron earns a ton of money. $TRX will be bid on FTX because c It's the only way out, but once people pull it out, they'll have to sell it at market price, taking a huge loss on their original holdings. https://t.co/NkbXatmxXR

The FTX website states that it is currently unable to process withdrawals, with customers in the Bahamas, where the company is based, being the only ones who can withdraw from the exchange.

Grant...