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While Bitcoin (BTC) and other leading cryptocurrencies are making headlines with their recent gains, the often overlooked altcoin, JasmyCoin (JASMY), has been up an impressive 861% year-to-date, outperforming other cryptocurrencies. . Top 100 icons In the market. As of Thursday, JASMY has emerged from a seven-month consolidation phase, rising to $0.054.
The altcoin is outperforming major cryptocurrencies
In addition to its impressive year-over-year performance, JasmyCoin has seen notable gains over shorter time frames, recording increases of 118%, 162%, and 211% over the past seven, fourteen, and thirty days, respectively.
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Market experts predict that the market in general Uptrend It could last until at least the second quarter of 2025, indicating additional growth potential for JASMY, which remains 98% below its all-time high of $4.79, which was reached during the 2021 bull market.
However, with further gains expected in the coming months, potentially reaching the top of the cycle by October 2025, Ethereum ETH, the second largest cryptocurrency, will play a major role as it often leads the way for further price rises like the altcoin in question.
But, what exactly is JasmyCoin, and why has it attracted significant investments in recent weeks?
JasmyCoin eyes key resistance levels
JasmyCoin is the native token of the Jasmy platform, which aims to democratize the use of data by integrating blockchain and Internet of Things (IoT) technologies.
The platform provides a decentralized and secure infrastructure that allows individuals to control and monetize their personal data. Users can securely store and manage their data while granting companies access with their consent.
Built On the Ethereum blockchain, this altcoin is an ERC-20 token with a total supply of 50 billion tokens. Its primary uses include transferring and storing data, paying for services, facilitating market entry for institutional investors, providing cryptocurrency loans, and improving tax strategies.
In contrast to Bitcoin’s year-to-date gain of 120% – after its all-time high of $104,000 – JASMY has significantly outperformed the largest digital assets.
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According to CoinGecko DataBitcoin saw a 64% increase in trading volume compared to Wednesday, while JasmyCoin recorded a nearly 100% rise in trading volume over the same period.
As JasmyCoin continues its upward trajectory, technical analysis is revealing critical resistance levels at $0.063, $0.067, and $0.070 on the daily chart of JASMY/USDT – highs not seen since January 2022. These levels could pose challenges for further advances In alternative currency rates.
On the contrary, key Support levels Watch includes $0.040, which is vital to maintain bullish momentum, and $0.031. Maintaining these support levels will be crucial for the altcoin as it aims to approach the $0.10 mark.
Featured image of DALL-E, chart from TradingView.com