Coin Edition -
- JasmyCoin surges 96% weekly, hitting $0.01188 amid whale moves.
- Japan’s regulatory reforms boost JasmyCoin’s bullish sentiment.
- JASMY’s market cap climbed 36%, and trading volume reached $831.37M.
The main Japanese cryptocurrency project, JasmyCoin, has witnessed an unprecedented upsurge in market value. This digital asset has shown a 96% gain over the last week and a 123% growth in the previous month. This growth path has attracted investors and analysts, resulting in much speculation about the factors catalyzing this growth trajectory. At press time, JASMY exchanged hands at $0.01188, a 37.86% surge from the intra-day low.
JASMY/USD 24-hour price chart (source: CoinStats)
Whale Movement Triggers Market Sentiment
One of the key moments in this story is the activity of two influential JasmyCoin stakeholders, who are commonly referred to as “whales,” who have withdrawn a total of 665.6 million JASMY tokens, or an equivalent of almost $5.36 million, from the Coinbase (NASDAQ:COIN) exchange.
This significant development has added support to the buying pressure in the market. Besides, these whales have gathered JASMY from October 2021, with a total of 1.223 billion tokens, emphasizing a continued attraction to an asset that suffered losses.
Regulatory Reforms Reassure Investors
Further, the crypto investment environment in Japan is changing considerably, most notably after the Japanese authorities’ official approval of venture capital investments in crypto projects. This regulatory change directly benefits JasmyCoin, Japan’s largest crypto project. The tie between JasmyCoin and DWF Labs, an influential organization known to manipulate cryptocurrencies’ values, only elevates the bullish market sentiment.
#JASMY is much closer to $0.01. Smashing and upward from here as Japan is prep for web3 VC investors. More than $0.5b in volume. Get ready for $0.30 pic.twitter.com/KPqQ1DcyRj— The Wolf of Memes Street