- Jasmy Coin price jumped sharply on Monday.
- The rally happened amid a low-volume environment.
Jasmy Coin price rose sharply on Monday as investors waited for the next catalyst. The coin rose by more than 10% and was trading at $0.0046, which was the highest point since Thursday last week. Still, this price is about 98% below its all-time high.
Is Jasmy a good buy?
Jasmy is a relatively small but highly popular Japanese cryptocurrency that is in the IoT industry. The blockchain was started by a team of executives from Sony, the giant entertainment company. As a result, Jasmy is popularly known as Japan’s Bitcoin.
Jasmy is in the data management and Internet of Things (IoT) industry. The developers have built a centralized management platform that ensures that data is secured well. At the core of Jasmy’s platform is the Personal Data Locker (PDL). It is a technology that makes it possible for users to attribute their data to themselves and decide what to do with it.
Find out the best cryptocurrency exchanges to buy Jasmy.
Another part of Jasmy are service providers that offer their products and services without having user information. By using this service, data that is generated by IoT devices is stored in the PDL. Jasmy then makes money by receiving an appropriate royalty in exchange of the platform.
Jasmy’s technology is relatively new and it is unclear whether any companies are using it for data management.
Meanwhile, Jasmy has also moved to the Fan Token Offering (FTO) industry. A fan token is a cryptocurrency that makes it possible for teams to deepen their relationships with their fans. Jasmy partnered with Sagan Tosu, one of the best-known football teams in Japan. Still, the fan token has not become popular internationally.
Jasmy Coin price prediction
The daily chart shows that the Jasmy price has been in a strong bearish trend in the past few months. This decline saw the coin crash below the important level at $0.010, which was the lowest level in March.
Jasmy has also dropped below all moving averages while the Relative Strength Index (RSI) has been in a downward trend. Therefore, the coin will likely continue falling as sellers target the next key support level at $0.0030. A move above the resistance level at $0.0055 will invalidate the bearish view.
