As a new prospective bullish cycle approaches in the crypto markets, investors are looking back at the previous “gems.” Jasmy coin became incredibly popular in a short amount of time but left many investors disillusioned. Similar to the GRT to ETH price action, the valuation of JASMY hasn’t allowed much enthusiasm.
Even so, JASMY remains an incredibly popular cryptocurrency, with high trading volumes, despite its dismal price action. So why is Jasmy still in the spotlight, and what can we expect from it in the near future?
To answer these questions, we will take a look at the token’s fundamentals and its use cases. In addition, we explore some price predictions from around the internet to form an idea of its future performance.
What Is Jasmy?
The Jasmy project focuses on the application of blockchain technology in the “Internet-of-Things” (IoT) industry. In IoT, data represents a precious resource, with corporations and individuals exchanging information via smart devices.
Former Sony executives founded the Jasmy corporation to act as a broker for buying/selling IoT data. At the same time, it allows Jasmy users to monetize their data before IoT devices can access it.
Jasmy Technology Aspects
Jasmy aims to democratize data sharing and allow users to access the IoT industry in a decentralized manner. Its goal is to establish a metaverse where user data remains secure and in the sole ownership of the individual.
To achieve this, Jasmy relies on several technology principles.
Metadata Storage
Jasmy combines IoT devices and blockchain technology for decentralized storage of the data contained in its ecosystem. One of the pillars of the Jasmy technology is the personal data locker, where users can securely store data in a peer-to-peer network. Paired with the Interplanetary File System (IPFS), Jasmy users can easily send data of any type.
Identification
The Jasmy protocol provides each user with a unique digital identifier based on blockchain technology. This digital ID then allows users to access and send data over the network. In addition, it provides them with an immutable virtual identity that can be utilized in Web3.
Gaming
Creating a genuine metaverse is one of the pillars of the Jasmy narrative. Using immutable data and virtual blockchain identities, the protocol aims to create games where users remain in control of their assets at all times. Consequently, Jasmy users can sell data and assets in the form of NFTs and get rewarded in JASMY tokens.
IoT Connection
The final piece of the Jasmy puzzle is the connection with IoT devices. Smart devices like phones and watches can provide immutable data for each individual. Moreover, users can plug VR equipment into the metaverse for a full experience.
Jasmy Price Prediction
Before we provide you with a Jasmy coin price prediction, let’s briefly analyze its historical performance.
Unfortunately, the Jasmy team overpromised and underdelivered. The token initially gained incredible traction and reached $4.99 in valuation. However, shortly after its release, the price plummeted, despite the timing of the peak of the 2021 bull market.
The current price is hovering around $0.003, a 99% decrease since its all-time high. Regardless, JASMY still conserves large amounts of volume and interest on social networks. The token conserves top-100 trading volume with more than $45 million on a 24-hour basis.
This is a perfect scenario for speculators, as it provides a high upside potential in case of a bullish rally. In the short term, analysts expect the token to reach a maximum of $0.005 in 2023.
In this regard, Priceprediction.net gives a target of $0.008 for 2024, a 4x increase from the current levels. In the long term, the website expects JASMY to reach $0.017 in 2026.
Digitalcoinprice.com has similar forecasts with $0.009 and $0.017 for 2024 and 2026 respectively.
Jasmy: Final Thoughts
Although JASMY’s price action might have left long-term investors embittered, there might be better days coming for this token. If the team picks up the slack and starts delivering on their promises, the tide could turn quickly in their favor. With a likely bull run, the token could provide some decent upside, considering its current low price.
