Jasmy Crypto Investment: Worthy Or Risky Venture?

Jasmy is an Ethereum token that powers an IoT platform, aiming to decentralize the process of coordinating networks of data and devices. Its price rose by nearly 57% on October 8, 2021, when it was listed on Coinbase, demonstrating the Coinbase Effect. However, the Coinbase Effect was not long-lasting, and the price dropped by nearly 30% from its highs after the listing. Jasmy's long-term price prediction is uncertain, with some sources predicting a decline in value, while others expect an increase. As of August 20, 2024, the JasmyCoin price is $0.02023 USD, and it is predicted to be a profitable investment in the long term.

Jasmy's price history

JasmyCoin (JASMY) is a cryptocurrency project of a Tokyo-based Internet of Things (IoT) provider Jasmy Corporation. The live JasmyCoin price as of September 2024 is $0.022035 USD, with a 24-hour trading volume of $77,380,024 USD. The current CoinMarketCap ranking is #65, with a live market cap of $1,086,349,129 USD.

JASMY's price shot up in October 2021 due to its Coinbase listing. The Coinbase Effect was not long-lasting, however, and the token's price dropped by nearly 30% from the highs it reached shortly after its listing.

The highest price paid for JASMY was BTC0.00009715, recorded on February 16, 2021. This is over 99% higher than the token's price as of September 2024. The lowest price paid for JASMY was BTC0.079850, recorded on December 29, 2022. This is over 600% lower than the token's price as of September 2024.

As of May 2022, JASMY is listed on a number of crypto exchanges, including Binance, Coinbase Exchange, Gate.io, and KuCoin.

Jasmy's competitors

As an AI chatbot, I cannot advise you on any financial decisions. However, I can tell you about Jasmy's competitors.

Jasmy is a Japanese company that combines blockchain and IoT technology to create a decentralised data infrastructure. The company offers an IoT platform that enables businesses to securely manage IoT data and devices. With a focus on data democratisation, Jasmy's platform allows users to store and control their data, manage their devices, and provide their data for use under clear rules.

Some of Jasmy's competitors in the blockchain IoT market include:

• IoTeX
• IOTA

Both IoTeX and IOTA are established players in the blockchain IoT space, with IOTA having the advantage of being an early mover with many established partnerships.

Other competitors in the broader IoT market include:

• Rollblock (RBLK)
• Toncoin (TON)

Rollblock, in particular, has seen significant growth in 2024, offering users a unique revenue-sharing scheme and a commitment to user privacy and security.

The blockchain IoT market is expected to grow rapidly, with a projected compound annual growth rate (CAGR) of 45.1% from 2020 to 2026. This growth presents opportunities for multiple players in the market, but also increases the competition that Jasmy faces.

Jasmy's use case

Jasmy is a cryptocurrency that uses the latest blockchain technology to provide an IoT (Internet of Things) platform. It aims to securely and efficiently manage data sent from IoT devices. Instead of coordinating networks of devices and data through centralized servers, Jasmy decentralizes the process by storing and computing data on a decentralized storage network, IPFS. The JASMY token is an Ethereum token that can be used to transfer tokens between devices and pay for network services.

The global IoT market size is projected to be $381.3 billion in 2021, with a forecasted growth rate of 25.4% from 2021 to 2028. The blockchain IoT market is expected to grow even faster, with a projected CAGR of 45.1% from $258 million in 2020 to $2,409 million in 2026. This indicates a promising future for decentralized IoT.

However, the market may not benefit all players equally. Jasmy faces competition from established players such as IoTeX and IOTA, who have a head start in the space and have already formed several partnerships. For Jasmy to stand out in this crowded market, it needs to demonstrate its unique value proposition and forge strong industry connections.

In conclusion, while the future of decentralized IoT looks bright, Jasmy faces the challenge of differentiating itself from established competitors. Its ability to establish itself as a key player in the market will determine its success as a long-term investment.

Jasmy's price predictions

Jasmy is a new Japanese blockchain project that combines the Internet of Things (IoT) with blockchain technology, allowing users to securely govern their data. Its native token, JASMY, is an Ethereum-based token and the first cryptocurrency to be legally compliant in Japan.

JASMY's price shot up in October 2021 due to its Coinbase listing. However, the "Coinbase Effect" was short-lived, and the token's price has since dropped.

Short-Term Predictions

According to Wallet Investor, the JASMY token is expected to increase by 5% in the next 30 days, reaching a maximum price of $0.020962.

Mid-Term Predictions

By October 2024, JASMY's price is predicted to rise by 230.53%, potentially reaching $0.076695. This prediction is supported by the current bullish sentiment in the market, with 23 technical analysis indicators signalling bullish signals.

Long-Term Predictions

The long-term price prediction for JASMY is uncertain, with varying forecasts from different sources. Here are some predictions for the upcoming years:

• According to Wallet Investor, JASMY's price will decline by more than 90% by the end of 2025.
• Digital Coin Price predicts JASMY to reach $0.1613 by the end of 2025, representing a 160% upside.
• CoinCodex predicts that by 2025, JASMY's price will be between $0.023204 and $0.110583.
• Changelly predicts that JASMY's price in 2025 will be between $0.0340 and $0.0407, with an average trading price of $0.0350.

Very Long-Term Predictions

Changelly has provided predictions for JASMY's price for the next several decades. Here are the forecasts for some of the years:

• 2028: Maximum price of $0.1305, minimum of $0.1056, and an average of $0.1094.
• 2030: Traded between $0.2204 and $0.2799, with an average of $0.2287.
• 2040: Maximum price of $12.07, a minimum of $9.81, and an average of $10.54.
• 2050: Maximum price of $17.04, a minimum of $14.64, and an average of $15.41.

It is important to note that the long-term forecasts for JASMY are highly variable and uncertain. The predictions are based on technical analysis, market sentiment, and historical price movements. However, the cryptocurrency market is highly volatile, and it is challenging to accurately predict the price of any token, especially in the long term.

Jasmy's investment risks

JASMY is a highly volatile cryptocurrency, and as with any investment, there are risks involved. Here are some key points to consider regarding the risks of investing in Jasmy Coin:

Market Volatility

The digital currency market is known for its volatility, and cryptocurrency prices can fluctuate significantly within short periods. This volatility can result in substantial losses for investors if the market moves against their positions. JASMY's price history illustrates this volatility, with the token's value spiking and plunging over time.

Regulatory Risk

The cryptocurrency market is largely unregulated, unlike traditional financial markets. This lack of regulation makes the digital currency space more susceptible to fraud and manipulation, and potential regulatory changes. Governments worldwide are still figuring out how to oversee cryptocurrencies, and new rules could significantly impact JASMY's value and usability.

Security Risks

Investing in Jasmy Coin may expose investors to hacking and security breach risks. Digital currencies are typically stored in digital wallets, making them vulnerable to cyber-attacks. If an attack compromises a wallet's security, investors could lose their funds.

Lack of Liquidity

The Jasmy Coin market may suffer from a lack of liquidity, making it challenging to buy or sell the token at desired prices. If there are insufficient buyers or sellers in the market, investors may face difficulties in executing trades, potentially resulting in losses or missed opportunities.

Competition and Obsolescence

The IoT and blockchain space is highly competitive, with players like IoTeX and IOTA already established. Jasmy Coin faces the risk of being outperformed by competitors or becoming technologically obsolete as the industry evolves and new coins emerge.

Long-Term Price Uncertainty

The long-term price prediction for JASMY is uncertain. While some sources predict a potential upside, others foresee significant declines. Crypto market volatility makes accurate long-term predictions challenging, and investors should approach all forecasts with caution.

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