Jasmine price has been the best performer in 2022 as investors bought the dip in Japan Bitcoin, It has risen for the last five straight days and has moved to the highest level since December 11. These gains represent an increase of nearly 40% from 2022 lows, giving it a market cap of over $100 million.
Why is Jasmine growing?
Jasmine is a relatively small blockchain project that has become popular in Japan. The platform was started by a team of former executives from Sony, one of the world’s leading entertainment companies. The platform was created to provide decentralized data storage solutions to companies and individuals.
The creators recognized the importance that data plays in today’s world. In fact, we have seen multi-billion dollar companies like Google and Meta Platforms that make money by selling data to advertisers. Data privacy has also become an important part of the debate today.
Jasmy plays a key role in the democratization of data by combining blockchain and the Internet of Things to provide an infrastructure that allows anyone to access data safely and securely. Users can store and control their data, manage and control devices, and provide a secure place to access data in a secure way.
Jasmy’s platform is made possible by a number of popular technologies. Some of the top components of its technology are Personal Data Locker, which enables data storage within peer-to-peer networks. It also has a secure data communicator that allows data democratization and a smart protector that allows registration of devices.
It is not clear why the price of Jasmine Coin has performed so well in the past few days. One possible reason is that the developers are about to make a big announcement like a partnership with a major company. There is speculation that the network will soon part ways with Sony.
jasmin price prediction
The daily chart shows that Jasmine price is in an uptrend in the past few days. It has risen consistently over the past four days and managed to move above the 25-day and 50-day moving averages. The Relative Strength Index (RSI) has moved slightly below the overbought level.
Therefore, as I written elsewhere, I suspect Jasmi will retrace in the coming days as the short squeeze fades. Furthermore, it will decline as some of the existing buyers will move to the distribution phase. If it does, the next key level to watch would be $0.0032.
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