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| JasmyCoin overview and JASMY vs DOGE comparison. |
Jasmy (JasmyCoin)
Jasmy, a Tokyo-based Internet of Things (IoT) company headed by previous Sony leaders, launched its native token, JasmyCoin (JASMY), in January 2021 on the Singapore crypto exchange, MXC.
Its price rose rapidly to reach its all-time high of $4.29 in February. By June 2021, it had fallen below $0.3 and stayed there from that point.
On 4 April, it had risen 3% to $0.031, which was 99.45% below its all-time high.
At that time, many readers were looking at the JasmyCoin token market outlook for 2022, 2023, 2025, and 2030. Here we look at the coin's price analysis and the factors shaping its outlook.
What is Jasmy (JASMY)?
Jasmy is an IoT company that specializes in the selling and buying of data. The company developed the Jasmy Platform, which connects service providers with data users.
As indicated by the project's whitepaper, Jasmy's main goal is to "realize a Data Democracy by building a decentralized, democratic world where data is protected as naturally owned by each individual".
Through Jasmy's data storage, users have full ownership of their data. Service providers have the chance to grow their business by using user-owned data. This business model, as indicated by the company, is expected to reduce data security costs.
Jasmy was established on 5 April 2016 in Tokyo, Japan, by Kazumasa Sato, previous CEO of Sony Style.com.
The company aims to address three main challenges in the digital age:
- Jasmy ensures users can manage their own data themselves, the same way they decide to manage their funds.
- Jasmy provides a decentralized network infrastructure that focuses on security and trust.
To achieve decentralization, Jasmy offers network and storage based on decentralized technology such as blockchain.
The platform's native token, JasmyCoin (JASMY), was based on the Ethereum network and works as an ERC-20 token. It is used:
- For companies to use user-owned data stored in data storage on the Jasmy platform.
- For data use, which may drive higher interest in data usage and speed up data democratization.
Likewise, the Jasmy cryptocurrency aims to ensure the value of the data stored on the platform by making it available in a secure way.
There are 50 billion Jasmy tokens. With over 4.75bn tokens available for use, as per the information given by CoinMarketCap, starting on 4 April 2022. As indicated by the CMC, the token has a market capitalization of $147m.
The token was launched on the Singapore-based crypto exchange MXC. It did not have an initial coin offering (ICO).
Should You Research Jasmy?
For anyone looking at a high-risk asset with the potential for big moves, a small altcoin with market energy can bring strong price action. However, it can also lead to heavy losses for the investors, so make sure you do your own research before making any crypto decision.
At the present time, the absence of clear data about the coin is fairly disturbing, particularly for a task that has been around since February this year, so assuming you are searching for a safer, more unsurprising resource, you would do well to keep away from JASMY until further notice.
JASMY vs DOGE
If we look at DOGE compared to JASMY, JASMY has different tokenomics than DOGE. The market cap of JASMY was very low compared to DOGE. JASMY had a market cap of only 85 million dollars while DOGE had a market cap of 17.3 billion dollars as of 2nd May 2022. Jasmy has a fixed total supply of 50 billion coins while DOGE has an unlimited supply. Jasmy coins in circulation were under 5 billion while DOGE had a circulating supply of over 132 billion, which is a huge number.
Final Verdict
I myself had invested in JASMY, and I was following this coin closely at that time. I had 2 years of crypto experience, but I will not suggest anyone invest in any coin unless they do their own research. This post is for educational purposes only, so research carefully before making any crypto decision.
JASMY chart shared for educational analysis.