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JasmyCoin is attracting investor attention for its use cases and performance, while new competitors such as Mollars are attracting attention for their potential.
Amid rapidly changing market dynamics, the cryptocurrency space has experienced a green surge in the last 24 hours. Surprisingly, it’s not just memecoins and altcoins in general that are benefiting. JasmyCoin, also known as Japan’s Bitcoin, is gaining investor attention with its unique use cases and disconcerting market statistics.
Although not currently surging, Jasmycoin has surged 26% in the past day to settle at $0.028. However, it has since fallen and stabilized at $0.02542 at the time of writing.
JASMY’s daily trading volume has surged 600% over the past few days, reaching $422 million. This incredible jump increased the asset’s market capitalization up to $1.4 billion, making it the 72nd largest cryptocurrency at the time of reporting.
JasmyCoin (JASMY) was launched in 2021, but started showing notable growth last year. This raises the question in the minds of cryptocurrency enthusiasts: what is Jasmy and why is it here?
Founded in Japan, Jasmy has established itself as an advocate for data democratization. The cryptocurrency aims to develop a solution that allows users to control the data that is transmitted back to the company through Internet of Things (IoT) technology.
JASMY focuses on modern data management requirements. According to Security.IO, this coin integrates blockchain technology and the Internet of Things.
In layman’s terms, IoT is a technology that allows devices to be connected to a central ‘cloud’ where all data is managed. For example, cars reporting data to a central cloud for analysis and feedback is an example of IoT.
Sometimes this information is used for private or commercial purposes. Jasmy Coin could therefore potentially be a solution for users to make money from companies that use IoT data to generate revenue.
The actual JASMY Coin is different from the blockchain. Cryptocurrency is used to pay block miners, and in the future it could also become a tool to pay people for information. It is also a coin where traders can invest funds to profit from daily volatility.
JASMY has performed remarkably well over the past year. Bitcoin in Japan is up more than 445% since this time last year. In the past month alone, JASMY is up 40.5%, with much of that gain occurring in the past week. The approval of the Ethereum Spot ETF boosted the price of the data management coin by 30%.
Currently, the coin is selling for $0.02542. JasmyCoin has surged from last year’s value of $0.00474, effectively removing the zero from its price.
As Memecoin enthusiasts look for interesting coins like JASMY to boost their portfolio returns, there is another alternative coin that is attracting investors away from Jasmy and other alternative coins. An emerging competitor in the market, the Mollars token went on pre-sale this weekend, with nearly 110,000 tokens sold within 48 hours. Naturally, Jasmycoin investors are part of the group of traders who purchase the pre-sale.
Strong sales growth suggests Mollars could be the next JASMY. Interestingly, the keyword term “Mollars” has performed better than “Jasmy coin” over the past 30 days. Twice, search inquiries for new store-of-value tokens replaced those for Japanese data management coins.
Mollars tokens are still in the pre-sale phase. That said, competing with the search volume of an already established cryptocurrency coin with a market capitalization of $1.27 billion is an achievement in itself.
Additionally, three cryptocurrency exchanges, including LBank, Bitmart, and XT, announced that they will list MOLLARS tokens after the ICO ends on June 1, and additional listings are expected as the launch date approaches. Experts have predicted that with the current pre-sale price of $0.55, Mollars’ value could increase by 44x, or +4,400%, in a relatively short period of time.
As JasmyCoin continues to rise, new competitors such as Mollars are also attracting investor attention with their promising potential. The evolving market environment suggests that exciting times are ahead for both established and emerging cryptocurrencies.