Among many promising cryptocurrency projects, JasmyCoin (JASMY) stands out with excellent prospects for investors and an enormous potential for improving the world.
JasmyCoin is a blockchain project created by the Japanese Internet of Things (IoT) provider headquartered in Tokyo titled Jasmy Corporation. This company is focused on purchasing and selling data, successfully managing to connect data users and service providers.
Jasmy was created to allow users to protect their data using the IoT technology merged with blockchain to let users regain control over their data. The creators of Jasmy intended to build a unique platform where users could freely exchange their data using IoT-powered gadgets and decentralized protocols.
This resulted in Jasmy developers creating an infrastructure where users/customers can seamlessly use their data without fear of losing control of it to third parties. This infrastructure allows them to store and share their data at will through their computers, phones, and other devices. It also allows them to make personal assets from their previously guarded information.
Jasmy creators' impressive background
Jasmy stores data on IPFS, which stands for InterPlanerary File System. It allows users to remain in control of their data and enables service providers to promote and conduct their services by leveraging user data. Jasmy is a native coin of this IoT blockchain project that allows users to enjoy all its benefits; it is one of the so-called utility coins.
Jasmy Corporation emerged in April 2016 due to the joint efforts of former high-ranking Sony executives. JasmyCoin first appeared on the Japanese cryptocurrency exchange BITPoint Japan. The coin was built on the Ethereum blockchain using its ERC-20 standard. The coin is the primary utility token of this network, and its role is crucial to the Jasmy ecosystem. This blockchain network has entered into strategic partnerships with many leaders in the Japanese digital industry, including giants such as Panasonic and Transcosmos.
What is JasmyCoin
JASMY is currently in the top 100 list, according to CoinMarketCap, and sits in the 90th position. Its market capitalization amounts to less than one billion US dollars. Currently, the coin is trading at the price of $0.01843. It reached an all-time high of $4.99 in 2016 but has yet to be usurped.
As mentioned above, JASMY is the native token that ensures a high utility on the Jasmy network and keeps it operational. This is the only cryptocurrency utilized on the network, and its function is to serve as a means of payment for users' personal data from IoT devices. With JASMY, clients can pay while buying products on the Jasmy platform, and they can also pay with it to have their data kept protected. The coin also helps users to utilize any data stored on the network.
The coin's maximum supply constitutes 50 billion. Almost 5 billion JASMY are circulating in the market. The total supply was distributed in this way – 48% was given as a contribution to the ecosystem fund; 27% of JASMY was airdropped on investors; contributors and the community got 20% of the supply via airdrops and, lastly, 5% of it was set aside for an incentives initiative. JASMY had no initial coin offering (ICO), unlike other second-generation cryptocurrencies.
Here's how JASMY platform works
Using the Jasmy platform, users are firmly guaranteed that their data will remain confidential, giving them the right to manage it. Users securely send their information through IoT-powered devices to various companies and have access to multiple services in return.
Customers' data gets gathered and processed securely, without any leakage, thanks to the decentralized structure of the Jasmy network. This cryptocurrency project's team does its best to provide the highest quality support while using IoT devices, which helps them to reduce the chances of any data leakage or fraud radically.
Primary price catalyst for JASMY and other altcoins in 2024
The Bitcoin halving, expected to happen in four days, is believed to have a significant impact on the BTC price and the whole cryptocurrency market within months to follow. Altcoins and the world's prime cryptocurrency are likely to soar in price after the halving occurs later this week.
It is worth mentioning what is halving and why it is so essential for the cryptocurrency space, with the Bitcoin army and altcoin communities looking forward to it happening once every four years.
Bitcoin runs on the proof-of-work algorithm invented by the enigmatic BTC creator known under Satoshi Nakamoto's pseudonym. Proof-of-work assumes miners run their nodes, helping to verify transactions and combine them to generate data blocks. This is the reason why this system is called "blockchain."
Miners receive rewards for every new block they generate. After the first halving in 2012, block rewards were slashed by half from 50 BTC to 25 BTC. The second halving took place in 2016, reducing the size of the rewards to 12.5 BTC. The third halving event happened as the COVID pandemic arrived – in April 2020, cutting the rewards down to 6.25 BTC. This week's coming halving will see miners left earning 3.125 BTC per each newly minted data block.
The important thing about the halving is that it turns Bitcoin into a scarce asset, increasing its scarcity every four years. With its hard-fixed 21 million supply, Satoshi Nakamoto gave it the potential to become a reliable store of value in the long run and a hedge against inflation as many Bitcoin maximalists and financial experts, such as Anthony Scaramucci (founder of SkyBridge), VC investor Anthony Pompliano, billionaire Paul Tudor Jones, and many others, are certain.
JASMY price prediction for 2024 and the coming years
Since Bitcoin is the leader of the cryptocurrency space in market capitalization, its rises and falls significantly impact the rest of the market, meaning that altcoins usually follow BTC up and down the chart. After Bitcoin hit an all-time high in 2021, not only did the top ten altcoins, such as Ethereum and Dogecoin, skyrocket, but small-cap coins also experienced significant price increases.
This year, once Bitcoin spiked to a new ATH at $73,750, multiple altcoins followed suit again, hitting new peaks and letter traders taking their profits off the table. Therefore, since many big names in finance and investment expect Bitcoin to reach at least $100,000 this year after the halving, traders hope to capitalize on altcoins, including JASMY.
This year, experts predict that JASMY will be able to reach a high of $0.0287. Next year, depending on various drivers, JASMY will likely go as high as $0.0368 (a minimum price) and soar to $0.0451 should everything run smoothly.
The highest mark this coin is expected to reach in 2026 would be $0.0644, according to multiple experts, or at least $0.0538. As for 2027, the forecasts are much more generous here, predicting a minimum exchange rate of $0.0784 in December and a maximum price rise of $0.0950. Still, even in this victorious case, JASMY would be light years away from its 2016 all-time high.
