JasmyCoin (JASMY), Japan’s leading crypto project, surged over 30% in 24 hours and 93% in a week.
Japan is nearing allowing VC firms to hold digital assets directly.
JasmyCoin (JASMY), the leading cryptocurrency project in Japan, has displayed a significant surge in value over the past few days. According to CoinMarket data, JASMY has soared by over 30% in the last 24 hours, reaching $0.0124, marking a staggering 93% increase in just one week.
This surge coincides with Japan’s steps toward allowing venture capital firms and other investment entities to directly hold digital assets. Japan, known for its proactive stance in establishing regulatory frameworks for stablecoins, also aims to support Web3 development while prioritizing user protection. In September 2023, Japan signaled its intentions to ease regulations for VC firms investing in crypto startups.
JASMY Soars to New High
JasmyCoin (JASMY) is a cryptocurrency project developed by Tokyo-based IoT provider Jasmy Corporation. The Internet of Things (IoT) encompasses both mechanical and digital components with unique identifiers capable of data transmission. Jasmy Corporation specializes in data buying and selling, bridging service providers and data users through its platform.
Notably, whale activity in JASMY has intensified, with two dormant whales collectively moving 665.655 million JASMY ($5.36 million) from Coinbase. The whales bought 1.223 billion JASMY since October 2021 at an average price of $0.01679, spending $20.54 million. However, their current holdings are worth $10.88 million.
At the time of writing, JASMY is trading at $0.0124, boasting a market cap of $601 million. The last time JASMY reached the $0.02 range was in May 2022. Additionally, the daily trading volume for JASMY has surged by over 51.91% in the last 24 hours, reaching $836 million, signaling a notable surge in investor interest and activity in the cryptocurrency.