- Jasmy crypto is an IoT platform that was started by a former Sony executives.
- Its goal is to safeguard user data using the blockchain technology.
The Jasmy crypto price has moved sideways in the past few days as demand for the coin started waning. The coin is trading at $0.01930, where it has been recently. It is also slightly above the year-to-date low of $0.0110, bringing its market capitalization to over $91 million.
What is Jasmy Crypto?
Jasmy is a relatively small cryptocurrency that was developed by former senior executives from Sony. It is a platform that is in the Internet of Things (IoT) and data management industry.
According to its website, its goal is to realize data democracy by building a decentralized and democratic world where data is owned by each individual. This approach is important because of how vital data has become in the modern world.
Jasmy wants to solve the data challenge for both individual and companies as well. For individuals, its product will ensure that their data is safe while for companies, it will help lower their cost of data management.
Jasmy will achieve these goal by utilizing edge computing with its characteristic of a decentralized process. It also uses a decentralized system for data management. The latter section uses the Interplanetary File System (IPFS) to handle data.
The Jasmy price has been in the spotlight in the past few weeks after it went live in several exchanges, including Binance. The price did well when Binance opened it up for leveraged trading in its ecosystem.
In addition, the developers had their first strategic briefing session in which they outlined their vision for the blockchain network. The company’s CEO said:
"We are solving this problem by spreading Web3 technologies such as blockchain and unique distributed solutions using IoT, and we want to lead the Web3 era by building a platform that satisfies individuals, companies, and communities.”
The Jasmy crypto price also jumped after a series of partnerships such as with Japan Travel, Transcosmos, and Appix Limited.
Jasmy crypto price prediction
The four-hour chart shows that the Jasmy price has been under pressure in the past few days. The declined accelerated after it formed a double-top pattern at $0.028. It has also moved below the 25-day and 50-day moving averages while the Stochastic Oscillator has moved below the oversold level.
Further, the falling wedge pattern means that there is a possibility that it will have a bullish breakout soon. If this happens, the coin will rise and retest the resistance at $0.025. Are you worried about Jasmy? Here are other altcoins to buy.
Contributors
