The Jasmy coin price is hovering near its all-time low as demand for the Japanese coin remains under pressure. The token is trading at $0.010, which is slightly above its all-time low of $0.0084. According to CoinGecko, the coin has a market cap of over $48 million, making it a relatively small cryptocurrency.
What is Jasmy Coin?
Data has become one of the most important resources around the world. Today, giant companies like Meta Platforms, Twitter, and Snap are all based on user data. As a result, there have been soaring concerns about data privacy, which has triggered many governments to come up with laws to govern the sector.
Jasmy is a relatively small Japanese blockchain company that seeks to become a leading player in the data industry. It is often referred to as Japan’s Bitcoin. Its goal is to help users manage the data that they provide to companies well. At the same time, it aims to help companies safeguard user data well. In a recent statement, the company’s president, who was a former head of Sony said:
“We are solving this problem by spreading Web3 technologies such as blockchain and unique decentralized solutions using IoT. We want to lead the Web3 era.”
Jasmy has also launched a stablecoin known as DD that is backed by the Japanese yen. The goal is to ensure that users are able to accumulate points based on the stablecoin. The Jasmy Coin, on the other hand, is used to activate the wallet and provide governance for the ecosystem.
In the past few months, Jasmy has entered into partnerships with several companies. For example, they have partnered with firms like Japan Travel, Sagam Dreams, and Transcosmos Corporation.
Still, like all digital coins, the Jasmy Coin price has dropped sharply as worries about high-interest rates remain. Also, there are worries about whether more companies and users will embrace the platform.
Jasmy Coin price prediction
The four-hour chart shows that the JASMY price has been in a tight range in the past few days. It has remained slightly above the important support level at $0.0084, which is its all-time low. The price is also consolidating along the 25-period and 50-period moving averages while the Average True Range (ATR) has been in a downward trend.
Therefore, there is a likelihood that the JASMY token will soon have a bearish breakout as sellers target the key support at $0.0075. A move above the resistance at $0.011 will invalidate the bearish view.