JasmyCoin (JASMY), a decentralized data storage coin, rose by 13% in the last 24 hours and 32% over the past week, marking a significant price increase. This surge is largely attributed to the approval of spot Ethereum ETFs. Positive news surrounding Ethereum, the leading altcoin in the crypto world, created a ripple effect benefiting related cryptocurrencies like JasmyCoin.
JasmyCoin (JASMY) Gains Upward Momentum
Often referred to as the “Japanese Bitcoin,” JasmyCoin offers an on-chain data storage solution designed to give users more control and autonomy over their personal data. With a feature called Personal Data Locker (PDL), individuals can securely store their data and choose to share it with companies willing to pay for it.
This approach not only aims to protect data privacy but also creates a marketplace where data can be securely exchanged between consenting parties.
In the broader context of the data storage coin market, JasmyCoin’s recent performance stood out. While many top-tier data storage coins experienced significant declines, with Arweave dropping by 17%, JasmyCoin managed to maintain an upward trajectory. Similarly, Ethereum, benefiting from the ETF news, rose by 26% over the past week, marking a significant increase.
Price Movement Over the Last 3 Months
JasmyCoin’s price history over the last three months has stabilized between $0.016 and $0.025. Despite dropping to $0.015 earlier this month, the cryptocurrency JASMY generally found support just above this level. Recently, whale activity pushed the price close to $0.03, leading to an overbought condition indicated by a relative strength index (RSI) value above 80.
Following this surge, a wave of selling brought the RSI value down to 47, placing it back in a healthy range but indicating potential short-term volatility.
JasmyCoin’s rally highlights the potential of Blockchain technology in data storage, while other sectors in the crypto market also draw attention. At the time of writing, the cryptocurrency JASMY is trading at $0.025. There has been a slight decline in price.
