Is Jasmy Coin a good investment?5 min read

Jasmy, a Tokyo-based Internet of Things (IoT) company, launched its native token, JasmyCoin (JASMY), in January 2021 on the Singapore cryptocurrency exchange MXC.

Its price rose rapidly to a record high of $4.99 in February. In June 2021, it fell below $0.3 and has remained there ever since.

Today (May 12), it is down -6.6% to $0.0097, down -99.79% from its all-time high.

What does the JasmyCoin token price prediction offer us in 2022, 2023, 2025, and 2030? Here we look at currency price analysis and the factors that shape their outlook.

What is JasmyCoin?

Jasmy is an IoT company specializing in buying and selling data. The company has developed the Jasmy platform, connecting service providers with data users.

According to the project’s white paper, Jasmy’s primary goal is “to achieve data democracy by building a decentralized, democratic world in which data is protected as the intrinsic property of every individual.”

Thanks to the Jasmy data block, users own their data. Service providers can promote their business using data held by users. According to the company, this business model should reduce information security costs.

Jasmy was founded on April 5, 2016, in Tokyo, Japan, by Kazumasa Sato, who happens to be a former CEO of Sony Style.com

The organization aims to solve three main challenges in the digital age:
  • Challenges users face, who often send their data via IoT devices to companies in exchange for services. Due to growing privacy concerns, users may find it difficult to provide their personal data to companies. Jasmy ensures that users can manage their personal data as they manage their finances.
  • Challenges faced by organizations that collect personal information from users but don’t offer much security. This can lead to the loss of information. Companies are forced to spend a lot of money on mandatory system upgrades and audits without having a clear policy. They plan to manage customer data according to the regulations provided by Jasmy.
  • Limit data management, mainly centralized. This forces users to trust companies’ centrally managed systems. Jasmy offers a decentralized network infrastructure that prioritizes security and trust.

To achieve decentralization, Jasmy offers technology-based decentralized networking and storage in the form of blockchain.

The platform’s native token, JasmyCoin (JASMY), runs on the Ethereum network and functions as an ERC-20 token. You can use it for:

  • Companies using data held by users stored in a data warehouse on the Jasmy platform.
  • For investment, it will create greater demand for data usage and accelerate the democratization of data.

Moreover, the Jasmy cryptocurrency aims to guarantee the value of the data stored on the platform, making it available in a secure way.

There are 50 billion Jasmy tokens, with over 4.8 billion tokens in circulation, according to data provided by CoinGecko on May 12, 2022. According to CoinGecko, the token has a market capitalization of $46 million.

The token was launched on the MXC cryptocurrency exchange in Singapore. It had no initial coin offering (ICO).

JasmyCoin had an optimistic launch.

The Jasmy cryptocurrency benefited from several listings in February 2021, including CoinGecko and Gate.io. On February 15, 2021, the Jasmy token reached an all-time high of $4.29.

Its value fell 59% to $1.77 on February 19, 2021. It recovered to $2.96 on March 1 before dropping 38% to $1.83 five days later. The currency was listed on the Jubi cryptocurrency on March 3, 2021.

On March 8, 2021, JasmyCoin joined GitHub, providing users with a platform to discuss the Jasmy project. This was followed by a price increase of 19%, reaching a low on March 6. During the remaining weeks of March 2021, the value of the Jasmy token fluctuated between $1 and $2.20.

The token prices started falling on March 31, 2021. On April 16, they fell 45% from $1.88 to $1.03. It continued to move sideways before climbing to $2.16 on May 5, 2021, during a 14-day participation campaign organized by Gate.io from late April to early May 2021.

On May 5, 2021, the company’s CFO, Hiroshi Harada, wrote that the Jasmy platform was reviewing cross-chain compatibility as Ethereum gas prices began to rise, especially the Binance Smart Chain and Polygon networks.

The start of a downtrend

In May 2021, the Jasmy coin went public on Bittrex and started supporting Trust Wallet and MetaMask. However, its value started to decline due to the negative sentiment in the cryptocurrency markets. At the end of the month, the token price was $0.99, down 54% from May 5.

Jasmy’s cryptocurrency then fell to new lows. The currency lost around 98% of its value in June 2021.

On July 14, 2021, Jasmy managed to regain some of his value after learning that the platform was in partnership with Sagan Tosu, a Japanese A-League soccer team. The peak did not live for long.

The Jasmy token resumed growth in October 2021, following the announcement of the Jasmy coin that the token was listed on several platforms and its collaboration with X Digital Innovation on November 28. On December 2, 2021, the Jasmy cryptocurrency hit a new high of $0.18. Since then, the token has seen a price decline.

Jasmy Cryptocurrency Price Prediction 2022-2030

Algorithm-based forecasting site Wallet Investor provided a grim price prediction for Jasmy for 2022-2027 when writing (May 12), calling it a “bad long-term investment.”

Based on its analysis of the cryptocurrency’s previous performance, the site’s projections predicted that it could trade at $0.019 in 12 months, falling to $0.0016 in 2027.

DigitalCoinPrice predicted a brighter future for Jasmy as the token reached $0.029 by the end of 2022, $0.032 by 2023, and $0.042 by December 2025.

Its long-term Jasmy price forecast for 2022-2030 suggested that the token price could reach $0.053 by 2027. Its long-term Jasmy currency analysis showed that the cryptocurrency could reach $0.1 $ by 2027.

Final Word

Given the low price, it’s hard to imagine it won’t rise, but it’s been one of the poorly performing tokens for quite some time. If it solves the token supply, there’s a chance it will succeed.

Please note that any algorithm-based Jasmy Coin price prediction may be incorrect. This article is not a replacement for your own research. Always do your due diligence before investing. And never invest or trade money you can’t afford to lose.