JasmyCoin Price Increases Dramatically, Here's the Analysis and Reasons!

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Bittime - Japan's premier crypto project, JasmyCoin, has witnessed an unprecedented rise in market value. This digital asset has shown an increase of 96% over the past week and growth of 123% in the previous month. 

This growth trajectory has attracted investors and analysts, resulting in much speculation about the factors that accelerated this growth trajectory. At the time of this writing, JASMY is trading at $0.01188, up 37.86% from its intraday low.

Whale Movement Triggers Market Sentiment

One of the key moments in this story is the activity of two influential JasmyCoin stakeholders, often referred to as “whales,” who have withdrawn a total of 665.6 million JASMY tokens, or the equivalent of nearly $5.36 million, from the Coinbase exchange.

This significant development has added support to buying pressure in the market. Additionally, these whales have been accumulating JASMY since October 2021, for a total of 1.223 billion tokens, emphasizing the continued appeal of the loss-making asset.

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Regulatory Reform Gives Investor Confidence

Furthermore, the crypto investment environment in Japan is undergoing significant changes, especially after Japanese authorities officially approved venture capital investments in crypto projects. This regulatory change directly benefits JasmyCoin, Japan's largest crypto project. 

The link between JasmyCoin and DWF Labs, an influential organization known for manipulating the value of cryptocurrencies , only increases bullish market sentiment.

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At the same time, the optimistic outlook on JasmyCoin is not just about market movements and regulatory news. JASMY has been projected to reach a bullish target price of $0.30 by influential figures in the crypto world, such as a prominent analyst called “The Wolf of Memes Street.” This projection is supported by increasing demand from Japanese venture capitalists and the energy of the crypto community in general.

Also read: What is Dominance in Crypto?

Consequences of Japan's Crypto Ecosystem

Legal changes to be implemented in Japan, intended to make it easier for direct investment from venture capital firms in crypto projects, represent a significant step forward for the country's digital economy.

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It is hoped that this ease of regulation will free up domestic funding flows to web3 companies, which will then reduce their dependence on foreign capital. The move is expected to promote innovation and expansion in Japan's growing crypto sector, which is fertile ground for startups and new technologies.

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The market response to these developments was very positive, with JasmyCoin trading volume surging to $831.37M after rising 24.53%. The community surrounding JASMY is optimistic and eagerly awaits further progress, as reflected in a market capitalization increase of over 36% to $587.75M.

How to Buy Jasmy (JASMY) on Bittime

You can buy and sell JASMY tokens in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. JASMY is available on Bittime with JASMY IDR pairing . 

To be able to buy JASMY/IDR tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of Bittime assets is IDR 10,000. After that, you can purchase JASMY in the application. Complete Guide on How to Buy JASMY on Bittime. 

Monitor price chart movements of JasmyCoin (JASMY) , Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime. 

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.