Despite blockchain technology providing resilient security features, there is a scope for data breaches when it comes to Web3 applications in virtual worlds. To tackle this concern and ensure the data is safeguarded while being democratized, the Jasmy platform has emerged. JasmyCoin is the native cryptocurrency that fuels all activities of the project. This Japanese initiative covers all data-related challenges that might arise with advanced technological developments. Blockchain, Metaverse, and the Internet of Things (IoT) are a few of the fields where this project concentrates on safeguarding the data of users. Read this article If you wish to learn more about Jasmy and its underlying platform, and about the reasons behind its recent massive price surge.
What is JasmyCoin (JASMY)?
JasmyCoin is the inherent cryptocurrency that empowers all the activities inside the Jasmy ecosystem. The project aims to forge a world where users possess their data without compromising privacy and security. To achieve this goal, Jasmy project has been toiling to build a decentralized and democratic world for the past couple of years.
JASMY, or JasmyCoin, is an ERC-20-based coin developed and launched on the Ethereum blockchain. The primary reason behind constructing the Jasmy project on Ethereum is to utilize its processing power, advanced dApp capability, and security.
The functionality of JasmyCoin in its ecosystem is not restricted to a few activities. As the project evolves, JASMY discovers new use cases and aids users in accessing the platform’s services. The JasmyCoin was introduced in open markets in 2021 and has a total supply of 50 billion JASMY.
Although its initial price was more than $1, the coin price dropped significantly by the close of 2021. However, JasmyCoin’s prices started to surge in 2024, with increased interest from Japanese venture capital investors.
How Does Jasmy Work?
The Internet of Things (IoT) links a wide variety of electronic devices, ranging from mobile phones to PCs and others, to exchange data. Additionally, different types of physical objects are embedded with sensors and software devices like chips for the purpose of gathering and exchanging information.
In times when the world is called “the century of data,” and with advancements like IoT, metaverse, and Web3, there is a high likelihood of data leakage and misuse. The Jasmy project looks far ahead into the future and is working tirelessly to ensure data security.
The Jasmy project provides a secure Internet of Things (IoT) platform for users to offer the best possible data security while exchanging information. It even assists businesses and project developers in managing their IoT data despite having a centralized management system. It even provides the required equipment for users, like communication modules and wearable devices.
Why is JasmyCoin (JASMY) Called Japan’s Bitcoin?
The Jasmy platform was developed and launched by Japanese founders Kunitake Ando, Kazumasa Sato, Masanobu Yoshida, and Hiroshi Harada. All of them worked under prominent roles at esteemed organizations like SONY and KPMG. Additionally, the JasmyCoin was also initially launched on the Japanese exchange BITPoint Japan.
Having an origin in Japan with most of its development rooted in the country, the team claims their JasmyCoin project as “Japan’s Bitcoin.” As we mentioned earlier, the project is receiving substantial investments from Japanese venture capitalists, boosting the token’s price.
Moreover, the fact that the host of a YouTube video discussion that happened among several investors stated, “Jasmy is the biggest crypto developed in Japan,” is noteworthy.
JasmyCoin Market Performance
According to CoinMarketCap, at the time of writing, JASMY is trading at $0.016. The highest level recorded over the past 24 hours was $0.18. The capitalization of the cryptocurrency is $860 million. Trading volume over the past 24 hours has increased by 104% and broke through $1.6 billion. A total of 48,419,999,999 tokens are currently in circulation out of a total supply of 50 billion coins.
The daily timeframe confirms the bullish conclusions of the weekly chart. Thus, price dynamics show that the token has broken through the upper limit of its range at $0.015 and confirmed it as support. This move was combined with an underlying bullish divergence in the daily RSI, which often results in a continuation of the trend.
According to the VR Soldier experts, wave analysis also promises the price to continue growing above the $.021 mark. The most likely scenario suggests that JASMY is in the third wave of a five-wave upward movement. If the third wave is the same length as the first, this would give us a high of $0.019, which is 20% higher than the current price.
Conclusion
JasmyCoin is an emerging crypto project that is focusing on offering data democracy, data security, and data sovereignty to users. It keeps the rapid development of technologies in mind such as Internet of Things and metaverse and their potential impact on data exchange and storage. By working towards the intersection of blockchain and IoT, JasmyCoin holds the potential to bring a new area in the tech world.
