Has Jasmy Coin Sold Out? A 52% Explosion in the Price of Jasmy
With a 52 percent increase in value over the last week, the price of JasmyCoin ($JASMY), a cryptocurrency used for decentralized data storage, is now $0.03897. Investors' assumption that the cryptocurrency firm had teamed up with Apple's iPhone sparked the spike.
The veracity of the rumors has been confirmed since then. The misunderstanding stemmed from people assuming that JasmyCoin, a decentralized on-chain solution for personal data storage, was involved in Apple's recent statement that it would be integrating Japan's ID card system into its iPhones.
Introducing $JASMY, the "Japanese Bitcoin" that empowers individuals with a Personal Data Locker (PDL) to safeguard their personal information. This information is available to them to share with corporations that are prepared to pay for it, if they so want.
This model's goals are to make data storage more secure, reduce the likelihood of leaks, and make it easier for consenting parties to share and utilize data.
The Current Value of JasmyCoin
Despite $JASMY's recent dominance in the dePIN market, its closest competitor, Arweave, had a 20% surge in value last week.
In comparison, the king of cryptocurrencies, Bitcoin ($BTC), had a relatively modest 2.9% increase overnight and 4.4% week-over-week growth, reaching $70,919 in trading.
Ethereum ($ETH), the token driving $JASMY's native blockchain, was authorized for exchange-traded funds (ETFs) on May 23, marking the beginning of a two-part increase in the price of $JASMY.
Thanks to this report, the token was able to break above the $0.025 barrier level (seen by the vertical red line), but on May 30, speculations about Apple caused the price to soar beyond $0.04.
Here, Jasmy could have discovered a new level of resistance. Things might go either way according to the steady relative strength index (RSI) of 48 and dropping, but since the Apple rumors were cleared up, Jasmycoin's price surge seems to be losing pace.
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