Can the token regain its highs?

Jasmy, a Tokyo-based internet-of-things (IoT) company headed by former Sony executives, launched its native token, JasmyCoin (JASMY), on 10 January 2021 at MXC, a crypto exchange in Singapore. 

The coin reached its all-time high of $4.2928 on 12 February 2022. But by 25 March the token had fallen by 99.04% to $0.04104.

What’s in store for the JasmyCoin token price prediction in 2022, 2023, 2025 and 2030? Here we take a look at the coin’s price analysis and what factors are shaping its outlook. 

What is JasmyCoin?

Jasmy is an IoT company that specialises in the selling and buying of data. The company developed the Jasmy Platform, which connects service providers with data users. 

According to the project’s whitepaper, Jasmy’s central goal is to “realise a Data Democracy by building a decentralised, democratic world where data is protected as inherently owned by each individual”.

Through Jasmy’s data locker, users have full ownership over their data. Service providers have the opportunity to promote their business by utilising the user-owned data. This business model, according to the company, is expected to reduce information security costs. 

Jasmy was established on 5 April 2016 in Tokyo, Japan, by Kazumasa Sato, former CEO of Sony Style.com. 

The company aims to solve three main challenges in the digital age: 

• Challenges faced by users, who often send their personal data through IoT devices to companies in return for services. Users may feel uncomfortable with providing companies with their personal data amid rising privacy issues. Jasmy makes sure users can manage their personal data themselves in the same way they choose to manage their finances. 

• Challenges faced by companies that collect personal information from users but do not provide much security. This could lead to information being leaked. Companies are required to spend a lot of money on system updates and compulsory audits, while not having built a clear policy and plan regarding the handling of customer data in compliance with the regulation, which Jasmy offers. 

• The limit of data management, which is mostly centralised. This forces users to rely on companies’ centrally managed systems. Jasmy provides a decentralised network infrastructure that prioritises security and trust. 

To achieve decentralisation, Jasmy offers network and storage based on decentralised technology in the form of a blockchain. 

The platform’s native token, JasmyCoin (JASMY), was built on the Ethereum network and operates as an ERC-20 token. It is used:

• By companies in order for them to be able to utilise user-owned data stored in a data locker on the Jasmy platform.

• For investment, which will create higher demand for data utilisation and accelerate data democratisation. 

In addition, the Jasmy cryptocurrency aims to guarantee the value of the data stored on the platform by making it available in a secure manner.  

There are 50 billions Jasmy tokens, with over 4.7bn tokens in circulation, according to data provided by CoinMarketCap, as of 25 March 2022. According to the platform, the token has a market capitalisation of $195.2m. 

The token was launched on the Singapore-based crypto exchange MXC. It did not have an initial coin offering (ICO). 

JasmyCoin saw a bullish launch

The Jasmy cryptocurrency benefitted from a number of listings in February 2021, including on CoinGeckoand Gate.io. By 15 February 2021, the Jasmy token hit its all-time high of $4.2928. 

Its value dropped by 58.69% to $1.7733 on 19 February 2021. It spiked to $2.9638 on 1 March before dropping by 38.23% to $1.8305 five days later. The coin was listed on the Jubi crypto exchange on 3 March 2021.  

On 8 March 2021, JasmyCoin joined GitHub, giving users a platform where they could discuss the Jasmy Project. This was followed by a 18.53% price surge on its 6 March low. Throughout the remaining weeks of March 2021, the Jasmy token’s value fluctuated between the $1 and $2.20 levels, as seen on the chart below.

The token’s price started to decrease on 31 March 2021. On 16 April, it dropped by 45.42% from $1.8813 to $1.0267. It continued to move sideways before skyrocketing to $2.1584 on 5 May 2021 amid a staking campaign organised by Gate.io, which ran for 14 days between late April and early May 2021. 

On 5 May 2021, the company’s Chief Financial Officer, Hiroshi Harada, tweeted that the Jasmy platform was looking at cross-chain compatibility as Ethereum gas fees started to increase, in particular the Binance Smart Chain and Polygon networks. 

The start of a bearish trend

In May 2021, the Jasmy token was listed on Bittrex and started to support Trust Wallet and MetaMask. However, its value began to decrease amid negative sentiment in the cryptocurrency markets. By the end of the month, the token was $0.9853 – a 54.35% fall on its 5 May price. 

The Jasmy cryptocurrency then plummeted to new lows. The coin lost around 98%of its value  throughout June 2021. 

On 14 July 2021, Jasmy managed to regain some of its value amid news that the platform was collaborating with Sagan Tosu, a club in Japan’s Football League A. The spike was short-lived. 

The Jasmy token started to rally once again in October 2021 following Jasmy coin news that the token was listed on nine new platforms and its collaboration with X Digital Innovation on 2 November, when the token reached the peak of $0.2776. On 2 December 2021 the Jasmy cryptocurrency reached another peak of $0.1759. Since then, the token has suffered downward price action.

Martin Škorjanc, CEO of crypto mining and exchange platform NiceHash, told Capital.com that the bearish trend faced by the Jasmy cryptocurrency was driven by unfriendly crypto news in Japan. 

“There are a few likely reasons why [the token] crashed: one being the news in Japan were not very crypto friendly at the time, and it is a Japanese based project.

“My opinion is that the founders released too many tokens at the same time. They do not seem to have a very solid mechanism for managing the circulating supply, which has probably damaged the token in terms as an investment, and the issue has not been addressed properly yet.”

The token’s unfamiliarity among investors was also one of the reasons why its price significantly dropped in June 2021, according to Dr Pooja Lekhi, Professor of Global Financial Institutions, Risk Management Approach and Financial Management at University Canada West. She told Capital.com: 

“The main reason behind Jasmy token’s price to drop in June 2021 was its unfamiliarity among investors. The token is relatively new to the crypto realm and there is a lack of clear information about the coin and project that launched in February 2021.

“Secondly, some rivals have advantages over Jasmy. IOTA crypto was an early mover in this space with many established partnerships. Therefore, it took more time for Jasmy to prove its worth.”

Since its 2 December price, the Jasmy token has lost 76.66% of its value, trading at $0.04104, as of 25 March 2022. 

Jasmy crypto price prediction 2022-2030

Algorithm-based forecasting site Wallet Investor gave a positive Jasmy price prediction 2022-2025 at the time of writing (25 March), calling it an “awesome long-term investment”.

Based on its analysis of the cryptocurrency’s past performance, the site’s projections predicted that JASMY could trade at $0.0853 by 2023 and $0.262 in 2026. 

DigitalCoinPrice, also predicted a bright Jasmy coin future, seeing the token reach $0.0538 by the end of 2022, $0.0585 by 2023 and $0.0764 by December 2025. 

Its long-term Jasmy price prediction for 2022-2025 suggested that the token’s price could hit $0.12 by the end of 2027. Its long-term Jasmy coin review showed the cryptocurrency reaching $0.19 by 2030.

Škorjanc agreed with the positive Jasmy coin forecast,saying that the token has significant growth potential, noting:

“The actual project itself has solid goals and aims at decentralising IOT management, so in fact they are kind of a pioneer of Web 3, which has a bright future.” 

The cryptocurrency expert noted that the token’s value can grow if token supply is sorted, according to his expectations: 

“Given how low the price is, it’s hard to imagine it not going up, yet it has been one of the most underperforming tokens for quite some time now. If they sort out token supply, there is a chance it could succeed.”

Dr Lekhi agreed with Škorjanc, saying that the IoT space seems to have a bright future: 

“While the cryptocurrency market can be volatile, Jasmy has several features that help it stand out from the rest, including the continued growth of the IoT sector and the versatile and secure products Jasmy offers to manage private data.”

The token’s listing on a number of platforms, including Coinbase, Bittrex, Uniswap and Gate.io, means it’s available to a large range of potential investors, Dr Lekhi added. 

“JasmyCoin has been bullish in the last few days despite the crypto market crashing, and it has the potential to reach new heights. By the end of 2022, JASMY could be worth $0.077,” she said. “However, the rise of JasmyCoin will ultimately depend on the trade volume, partnerships, whales and interest of the investors.”

JASMY is a relatively new project and still has a lot to prove to investors. Its poor welcome in Japan could put people off from investing.

Note that any algorithm-based Jasmy coin price prediction can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose. 

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