Aug 03, 2024에 답변됨

JasmyCoin (JASMY) Analysis Report

Introduction

JasmyCoin (JASMY) is a utility token deployed on the Ethereum blockchain, serving as the native cryptocurrency of the Jasmy ecosystem. Founded in 2016 by ex-Sony executive Kazumasa Sato, Jasmy is a Tokyo-based blockchain platform pioneering data security and data-sharing solutions for the expanding metaverse and Internet of Things (IoT) landscape. This report aims to analyze JASMY's utility and its potential for investment as of August 3, 2024.

Utility and Use Cases

JasmyCoin's primary utility lies in its role in facilitating the purchase of personal data from IoT devices within the Jasmy ecosystem. Users leverage JASMY not only for buying products on the platform but also for securing their information. The Jasmy platform integrates IoT with blockchain technology, empowering users with complete management of their private information and fostering a secure space for the trustless exchange of data among IoT devices and decentralized protocols (Cryptoslate, 2024).

Key use cases of JASMY include:

  1. NFT Storage: The Jasmy protocol enables the creation and storage of unique digital assets as Non-Fungible Tokens (NFTs) within the metaverse. These NFTs can be owned and traded on various marketplaces (Bitscreener, 2024).

  2. IoT Devices and Services: Jasmy's secure IoT platform allows users to manage their IoT data through a centralized management system. It also provides necessary devices and seeks to create the right environment for IoT with a full suite of related services (Bitscreener, 2024).

  3. Decentralized User-Owned ID: Jasmy's decentralized identity solution provides users with direct access to their data and a verifiable virtual identity on the blockchain (Bitscreener, 2024).

  4. Secured Metadata Storage: Jasmy utilizes its Personal Data Locker (PDL) and the InterPlanetary File System (IPFS) to securely store various types of data within a peer-to-peer network (Bitscreener, 2024).

Market Performance and Sentiment

As of August 3, 2024, JasmyCoin's price and value show a notable increase over the past year, placing it at a position of #140 in the cryptocurrency market with a market cap exceeding $450 million (Guarda, 2024). Nearly all of its 50 billion token maximum supply is in circulation, indicating intriguing market dynamics for potential JASMY investment (Guarda, 2024).

Over the last 30 days, JASMY had 12/30 (40%) green days. According to historical data, it is currently not profitable to invest in Jasmy. However, the price of Jasmy increased by 523.57% in the last 1 year, while the coin's 3-year performance is 67.36% (CoinCodex, 2024).

The general Jasmy price prediction sentiment is bearish, with 10 technical analysis indicators signaling bullish signals and 20 signaling bearish signals (CoinCodex, 2024). However, some analysts like Run My Crypto highlight Jasmy's remarkable popularity, noting its rise as the #1 most popular crypto project in 2024 (Cryptonews.net, 2024).

Partnerships and Developments

In March 2024, Jasmy announced a partnership with Panasonic to develop an IoT platform, tying a personal data locker and a decentralized database to IoT, allowing device information to be attributed to individuals (Crypto.news, 2024). The project also states ambitious plans to release its technology globally as an open-source service and to lock up a significant portion of its tokens, initiating a lockup of 100 million tokens in May 2024 (Crypto.news, 2024).

Price Predictions

Price predictions for JASMY vary among analysts:

  • Run My Crypto suggests that Jasmy could reach $0.32 by the end of 2024 and $1.49 in 2025 (Cryptonews.net, 2024).
  • CoinCodex's Jasmy price prediction for 2025 is between $0.025817 on the lower end and $0.122011 on the high end, potentially gaining 418.26% by 2025 if JASMY reaches the upper price target (CoinCodex, 2024).
  • CoinCodex's Jasmy price prediction for 2030 is between $0.06511 on the lower end and $0.10557 on the high end, potentially gaining 348.42% by 2030 if it reaches the upper price target (CoinCodex, 2024).

However, it's important to note that recent price increases may be partially attributable to false rumors of a partnership with Apple, and the revelation that there is no such partnership may impact the price (Crypto.news, 2024).

Conclusion

JasmyCoin's utility in data privacy and IoT, combined with its partnerships and ambitious plans, positions it as an intriguing investment opportunity. However, its historical volatility and the potential impact of false partnership rumors underscore the importance of cautious optimism and thorough research when considering JASMY as an investment.

As the project continues to gain traction and deliver on its promises, it has the potential to play a significant role in the cryptocurrency market. Yet, as with any investment, it is crucial to consider one's risk appetite, the project's performance history, and wider market sentiment before making a decision.

References

Bitscreener. (2024). JASMY Coin: A Beginner's Guide to the Japanese Data-Centric Cryptocurrency. Retrieved August 3, 2024, from https://bitscreener.com/crypto-news/jasmy-coin-beginner-guide-to-the-japanese-data-centric-cryptocurrency

CoinCodex. (2024). Jasmy Price Prediction. Retrieved August 3, 2024, from https://coincodex.com/crypto/jasmy/price-prediction/

Crypto.news. (2024). JasmyCoin price prediction. Retrieved August 3, 2024, from https://crypto.news/jasmycoin-price-prediction/

Cryptonews.net. (2024). JASMY Projected to Hit $0.32 by Year-End with a $1.49 Target for 2025. Retrieved August 3, 2024, from https://cryptonews.net/news/analytics/29514624/

Cryptoslate. (2024). JasmyCoin Info. Retrieved August 3, 2024, from https://cryptoslate.com/coins/jasmycoin/

Guarda. (2024). Jasmy Coin Market Cap for Jasmy Price Prediction. Retrieved August 3, 2024, from https://guarda.com/academy/crypto/jasmycoin-price-prediction-2024/