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JasmyCoin price fluctuates as new crypto contenders emerge
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JasmyCoin captures investor interest with its use case and performance, while new contenders like Mollars attract attention with their potential.
Amid the rapidly changing market dynamics, the cryptocurrency sector has seen a wave of green in the last 24 hours. Surprisingly, it is not just memecoins and the usual altcoins that are recording gains. JasmyCoin, otherwise known as Japan’s Bitcoin, is capturing investor interest with its unique use case and staggering market statistics.
Although it is not increasing significantly at the moment, Jasmycoin rose 26% over the past day, sitting at $0.028. However, it has since slipped and stabilized at $0.02542 at the time of writing.
JASMY’s daily trading volume has skyrocketed 600% over the past two days, reaching $422 million. This stunning jump caused the asset’s market capitalization to increase to $1.4 billion, placing it as the 72nd largest cryptocurrency at the time of reporting.
JasmyCoin (JASMY), although launched in 2021, has begun to experience notable growth over the past year. This raises questions in the minds of cryptocurrency enthusiasts: What is Jasmy and why is it here?
Founded in Japan, Jasmy presents itself as a champion of data democratization. The cryptocurrency aims to develop solutions that allow users to control data sent to companies via IoT (Internet of Things) technology.
JASMY focuses on modern data management needs. According to Security.IO, the coin integrates blockchain technology with the Internet of Things.
Simply put, IoT is a technology that allows devices to connect to a central “cloud” where all data is managed. For example, a car that reports data to a central cloud for analysis and feedback is an example of IoT.
Sometimes this information is private or used for commercial purposes. Therefore, Jasmy Coin could potentially become a solution that allows users to earn money from companies that use their IoT data to generate profits.
Real JASMY coin is different from blockchain. Cryptocurrency is what is used to pay block miners and could be a tool to pay people for their information in the future as well. It is also a coin where traders can invest funds to benefit from daily volatility.
JASMY has performed remarkably well over the past year. Japanese Bitcoin is up more than 445% compared to the same period last year. In the last month alone, JASMY is up 40.5%, with a significant portion of that increase occurring in the last week. The approval of the Ethereum Spot ETF sent the price of the data management coin up by 30%.
Currently, the coin is selling for $0.02542. JasmyCoin has risen from last year’s value of $0.00474, effectively eliminating a zero from its price.
While memecoin enthusiasts look towards attractive coins like JASMY to increase their portfolio profits, there is another altcoin attracting investors from Jasmy and other alts. The Mollars token, an emerging competitor on the market, had its presale this weekend, selling nearly 110,000 tokens in less than 48 hours. It is not surprising that Jasmycoin investors are among the group of traders who buy on presale.
Strong sales growth indicates Mollar could be the next JASMY. Interestingly, the keyword “Mollars” has outperformed “Jasmy coin” in the last 30 days. Twice, search queries for the new store of value token replaced those for the Japanese data management currency.
The Mollars token is still in the presale phase, meaning that rivaling the search volume of an already established cryptocurrency with a market cap of $1.27 billion is an achievement in itself.
Additionally, three cryptocurrency exchanges, LBank, Bitmart, and XT, have announced that they will list the MOLLARS token after the ICO closes on June 1, with additional listings expected closer to the launch date. With a current presale price of $0.55, experts have predicted that Mollars could increase in value by 44X or +4,400% in a relatively short time.
As JasmyCoin continues to grow, new contenders like Mollars are also catching investors’ attention with promising potential. The evolving market landscape suggests exciting times lie ahead for both established and emerging cryptocurrencies.