Jasmy Coin's Recent Gains Might Not Be Sustainable for Long
Jasmy crypto saw steep gains when it was added to Coinbase on Oct. 9. What is Jasmy coin's price prediction?
Oct. 14 2021, Published 10:51 a.m. ET
On Oct. 9, the JASMY token was added to Coinbase, which boosted awareness of the token and the trading volume. It rose by nearly 57 percent on Oct. 8 and demonstrated the “Coinbase Effect.” The token rose another 56 percent on Oct. 12. The recent steep rise has taken many investors by surprise and they want to know about Jasmy coin's price prediction.
Generally, cryptocurrencies have been on an uptrend for the past several months. The total cryptocurrency market cap, which fell below $150 billion in March 2020, is now above $2.2 trillion. As the adoption of cryptocurrencies rises, many altcoins have been gaining importance for their real-world uses.
What is Jasmy crypto?
Jasmy provides an IoT (internet of things) platform, which aims to decentralize the process of coordinating networks of data and devices. It does so with the help of storing and computing data on a decentralized storage network, IPFS.
Jasmy claims that it values the concept of data democracy, which means that it aims to return all the personal data files to the hands of the individuals it belongs to. In the new era of information, Jasmy wants to create an environment where data can be exchanged securely as valuables. JASMY is an Ethereum token that powers Jasmy. The coin can also be used to transfer tokens between devices and as payment for network services.
Jasmy price prediction
- Wallet Investor isn't positive on Jasmy’s long-term growth trajectory and sees the coin dropping in value by around 87 percent in one year.
- Priceprediction.net also has a negative view of Jasmy crypto and sees it declining in value by 75 percent on average by the end of 2021.
- Digital Coin Price sees an upside of more than 50 percent for the coin from the current levels by the end of 2021.
Is Jasmy a good investment?
Like many other IoT crypto networks, Jasmy aims to end the monopoly of giant platformers like Google, Apple, Facebook, and Amazon. While these platforms let users use the service for free, they collect personal data like behavior history. The data is managed, analyzed, and used for various purposes by their centralized systems. In some cases, the data has been leaked due to cyber attacks, system defects, and human mistakes. At times, the data is misused to deliver specific ads or content.
The future for the IoT space as a whole looks bright. According to Mordor Intelligence, the global IoT market is expected to reach $1,386 billion by 2026 from $761.4 billion in 2020. However, this doesn’t mean that the future of all IoT-related projects is good. Some rivals have advantages over Jasmy. IOTA has an early mover advantage in this space with a lot of established partnerships. Until Jasmy proves its worth in a concrete manner, it's better to give it a pass.
Where to buy Jasmy
Jasmy has been added to Coinbase and investors can purchase it with ease from the platform. Other top exchanges that trade in Jasmy are ZT, Gate.io, Bittrex, Uniswap, and MEXC.