- Jasmy Coin price has been in a strong bullish trend in the past few months.
- The number of Jasmy holders is nearing 50k.
- The Fed has finished hiking while banks are collapsing.
Jasmy price has been one of the best-performing cryptocurrencies in the past few weeks. The coin rose to a high of $0.0072, the highest point since April 15. It has soared by more than 63% from the lowest level in March and is now approaching the highest point this year.
Jasmy Coin holders near 50k
Jasmy is a small cryptocurrency that was created in Japan by a team of highly experienced players in the entertainment industry. The founders used to be senior executives at Sony, the giant company. Jasmy hopes to solve some of the top challenges that companies face when interacting with customer data.
The platform is made up of several parts. For example, it is made up of the Personal Data Locker, where users can attribute their data and decide what to do with it. There is also the secure knowledge communicator that allows it to achieve democratization by controlling, managing, and tracing data.
Jasmy has also moved into the fan token industry. In 2022, the developers helped Sagan Tosu launch its fan token. Sagan Tosu is one of the best-known soccer teams in Japan. A fab token, on the other hand, is a cryptocurrency that a club uses to provide more features to its fans. Most well-known teams like Manchester United and Juventus also have then tokens.
The main reason why the Jasmy price has jumped sharply is that the number of users in the ecosystem has been growing. Etherscan data shows that the number of token holders is slowly approaching a key milestone. It now has 49,785 holdeers, meaning that it will get to 50k soon. This is sign that the token is gaining traction.
Federal Reserve and PacWest collapse
The other key catalyst for Jasmy price is the Fed decision and the collapse of banks. The Fed decided to hike interest rates by 0.25% on Wednesday. It then hinted that it will have a strategic pause in the coming months. As such, this means that the bank has ended its hiking cycle, which is a good thing for Jasmy and other cryptocurrencies, as I wrote here.
Meanwhile, American banks are still collapsing. On Monday, First Republic collapsed and was acquired by JP Morgan. Today, the PacWest stock price has plunged by 51% while Comerica shares have fallen by 13%. Western Alliance Bancorp stock fell by 40%. Therefore, there is a likelihood that more banks will collapse, which will be a positive thing for Jasmy and other cryptocurrencies.
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