As with many altcoins, JasmyCoin is back in the “green” this week. The JASMY price pumped 25% and is now trading around $0.03.
JasmyCoin’s 2024 yearly high is $0.04. Currently, JASMY is trading about 25% below this recent peak, suggesting there’s still room for growth to reclaim its yearly high.
At press time, JasmyCoin’s market cap stands at $1.5 billion. If JASMY were to hit $1, its market cap would be around. $50 billion. This is a massive 33x increase from its current prices. But, is this possible?
JasmyCoin’s Utility
It’s worth noting that Jasmy’s all-time high (ATH) is actually over $4, but this happened when coin launched back in 2021. Since then, the market had many ups and downs.
JasmyCoin aims to create a decentralized data marketplace focused on Internet of Things (IoT) and Web3 applications. The project combines blockchain and IoT technology to provide an infrastructure that allows users to securely store, control, and monetize their personal data.
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Show more +A core component of the Jasmy ecosystem is the Personal Data Locker (PDL), where users can securely store their personal data and maintain proof of ownership.
This utility offers potential in the growing field of data privacy and management. It might just position Jasmy as a key player in the future of decentralized data ecosystems.
For Jasmy’s price to hit $1, many factors need to align. A positive overall market sentiment is crucial, as cryptocurrencies often move in tandem with broader market trends.
Positive developments around the project are another critical factor. This could include partnerships, technological advancements, increased adoption of Jasmy’s data management solutions, or expansion into new markets.
Read also: Alephium (ALPH) Price Pumps 70%, Crypto Analysts Call It ‘Next Kaspa’
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