Jasmy price prediction: Where next for JASMY?
The Internet of Things platform has lofty goals, but its token is struggling to get off the ground
The goal of the Tokyo-based Jasmy platform is to completely transform the way users’ data is managed online. Instead of tech giants profiting from it, the platform wants to decentralise the process and give consumers control of their data.
JasmyCoin (JASMY) got off to a good start, with its price skyrocketing in the first month. Recently, though, things have been looking bleak for the cryptocurrency. Does the JASMY price prediction suggest it can start climbing again?
What is Jasmy (JASMY)?
The Jasmy platform was born out of discomfort with the way that our online data is currently handled. Its website argues that users, rather than the tech giants, should own their data. Aside from the centralisation issue, Jasmy is also trying to solve those incidents where data is leaked in cyber attacks.
Jasmy’s answer is to provide Internet of Things (IoT) devices with a platform where users can safely and efficiently manage their own data. The platform can also be used to manage the devices and keep track of their current status. Through this platform, Jasmy hopes to take back control from the tech giants and put it in the hands of the user.
There is a very capable team behind Jasmy. It was formed by a group of ex-Sony employees including Kunitake Ando, who was previously the seventh president of the Sony Corporation; Kazumasa Sato, who used to be the representative director of Sony Style; and Tadashi Morita, who was with Sony starting in 1971.
Along with its platform, the decentralised project has launched a community for developers and businesses called the Jasmy League. Its goal is to support and inspire innovation on the Jasmy platform. The website offers a campus of learning materials, awards for innovative developers and a place for the community to socialise.
The JasmyCoin (JASMY) token is what powers this decentralised network for IoT devices. Its primary use is as a source of payment for the network. This ERC-20 token can be transferred between various devices.
From the Jasmy whitepaper
The whitepaper states: “When our basic needs such as clothing, food, shelter (Japanese: ishokuju) or transportation are connected via the internet, this will dramatically affect our lives. We are an IoT platform company on a mission to provide the infrastructure which allows anybody to use data safely and securely. We are currently developing and providing the Jasmy Platform to achieve this.”
The document goes on to say: “Unlike the current centralised world, we will build an IoT platform suitable for the idea of a Jasmy Decentralised Data Democracy. Through the Jasmy Platform, we will endeavour to accelerate the use of data and instil the concept of data democracy.”
Jasmy coin price history
JasmyCoin has a fairly short price history because it only launched in February 2021.
The token started its journey off on a high note. Within the first three weeks of February, it had announced plenty of new listings. CoinGecko and CoinMarketCap had implemented its price data. Then MathWallet and Gate.io listed the token on their trading platforms. This culminated in the JASMY coin hitting its all-time high of $4.99 on 16 February 2021.
The price of JASMY corrected to around the $2 mark over the following days. It then temporarily spiked again on 1 March 2021, reaching $2.96. Subsequently, JASMY coin settled around $1.
May 2021 proved to be an exciting month for the IoT platform and token. A Jasmy coin staking campaign was launched by Gate.io, which ran from late April to 10 May. Those who staked the token could earn an annual interest rate of 50%.
Chief finance officer Hiroshi Harada then revealed that Jasmy was looking at cross-chain compatibility.
This came at a time when Ethereum gas fees were climbing rapidly. Harada tweeted a photo that implied Jasmy was looking at Polygon and Binance Smart Chain in particular.
The JASMY team also announced in May that it was offering support for the MetaMask wallet. Its price passed $2, hitting a peak of $2.15 on 5 May. But JASMY could not hold on, and the price started to plummet that month. By 17 June 2021, the IoT token had fallen below $0.10.
It continued to fall throughout the following months, dropping to a low of $0.008 on 2 July 2021. JASMY has been unable to come anywhere close to $1 again, but it did start rallying again in October.
JASMY’s price jumped to $0.06 on 7 October 2021, the day before the token was listed on Coinbase. The IoT cryptocurrency saw more listings that month, including with Bitfinex and KuCoin, which resulted in JASMY hitting $0.11 on 26 October 2021.
There was another surge on 2 November 2021 when Jasmy partnered with X Digital Innovation. Its intention was to start experimenting with its services in the personal finance field. On the day the partnership was announced, the token hit $0.27.
It passed $0.20 again on 23 November 2021 as Transcosmos released a telecommunications system based on the Jasmy network. The goal of this partnership was to apply Jasmy’s data decentralisation goals in a call centre setting.
The surge, however, was only temporary and JASMY had dropped back under the $0.10 mark in December 2021. The platform was in the news once more recently, as it announced it was looking at launching an English-language version of its PC software.
The coin opened in the New Year at $0.08544 and remained stuck in a general downtrend, closing 31 January 2022 at $0.04596. February wasn’t much better in the long-running bear market, and the coin was valued at lows of $0.016 by the end of the month.
On 24 March 2022, Jasmy reached a brief peak of $0.04432. However, the descent continued well into April and May, despite the successful launch on Binance:
Jasmy hit further lows of $0.01748 on 30 April 2022. The token then met a new all-time low following multiple market-wide crashes, trading at under $0.00812 on 18 June 2022.
Some headway has been made in the intervening weeks, but the token largely traded sideways between $0.008 and $0.01. As of the time of writing on 26 July 2022, the token was trading at $0.008446, only 3% above its all-time low.
Jasmy price prediction
The majority of Jasmy price predictions suggest a steady rise for the cryptocurrency, but none think it will pass $1 any time soon.
Gov.capital’s Jasmy price prediction for 2022 is extremely bearish. The site suggests JASMY’s value will halve in August, and be negligible by September.
WalletInvestor believes the coin will be worth $0.0009 towards the end of this year. The site suggests Jasmy is a bad long-term investment.
DigitalCoinPrice is more optimistic about the future of JASMY. It thinks the token could reach as high as $0.0117 in August (up over 40%) and makes a Jasmy price prediction for 2025 of $0.0160. A general year-on-year uptrend is then expected, with the site making a Jasmy price prediction for 2030 of $0.0381.
PricePrediction.net expects JASMY to be worth $0.012 in August 2022 and suggests the coin will rise to an average of $0.019 in 2023, $0.029 in 2024 and $0.043 in 2025. The site gives a maximum JASMY price prediction for 2031 of $0.40.
Jasmy is tackling the huge area of centralised data, giving the platform great potential. Yet it still has a lot to prove to investors before the token can break its price record.
There were 4.75 billion JASMY in circulation at the time of writing on 26 July 2022. The max supply cap for the token is 50 billion JASMY.
It could be. JASMY has been on a bearish trend, with its token plummeting from $2 in May 2021 to below the $0.01 mark in May 2022.
Some JASMY price predictions are hopeful that the IoT token will see a steady rise over the following years – yet its volatile past is a good example of why investors should never invest more money than they can afford to lose.
Some JASMY coin price predictions suggest that the coin will increase over the coming years, but even then not come anywhere close to its previous all-time high any time soon. Others predict the coin will lose most of its value in the coming months.
Price predictions are often wrong, however, so you should always do your own research before investing.
It depends. Jasmy has ambitious goals – it wants to completely decentralise the way in which our personal data is processed. Yet investors do not seem to be flocking to the JASMY token, and it has been bearish since June 2021.
Remember, cryptocurrencies are volatile, and you should never invest more than you can afford to lose.