Top Performing Altcoin JASMY Exceeds $2 Billion Market Cap
Jasmine Coin (Jasmine) is a cryptocurrency powered by blockchain-based Internet of Things (IoT) technology that has emerged as the best-performing altcoin today. Its price has surged 25% in the past 24 hours.
The surge pushed JasmyCoin’s market capitalization past a major milestone. Here’s what you need to know about its recent rise.
JasmyCoin market cap rises as holders exit
On December 4, the price of JASMY was $0.040. Today, however, the altcoin is outperforming all other assets in the top 100 and is currently trading at $0.050. As a result, the cryptocurrency’s market capitalization has exceeded $2 billion.
Market capitalization, often referred to as market capitalization, is calculated by multiplying the circulating supply of a cryptocurrency by its current price. Therefore, assuming no new tokens enter circulation, a price increase will typically result in a higher market cap, while a price decrease will result in a lower market cap.
According to Santiment, JASMY’s market capitalization has surged to $2.5 billion, reflecting its growing popularity among market participants and Growing demand for altcoins.
Following the price surge, IntoTheBlock data shows that 86% of JASMY holders are now profitable. Furthermore, the Global Inflow/Outflow of Money (GIOM) indicator shows that no holder is in the red and the remaining participants are at break-even point.
The GIOM metric aggregates all address locations into clusters based on the volume or volume of addresses purchased at a specific price level. Larger clusters indicate stronger support or resistance near these price ranges.
Look at the chart below, Jasmine Coin There appears to be strong support from large clusters at price levels below current values. Considering the current situation, the price of JASMY may rise towards the $1 market.
JASMY Price Prediction: $1 may be around the corner
According to the daily chart, JASMY’s position as the top performing altcoin Generated from an inverse head and shoulders pattern. The inverse head and shoulders pattern is a bearish to bullish pattern that occurs after buyers take advantage of sellers’ weakness and push the price higher.
In the case of JASMY, the pattern helped it break above the $0.039 resistance. As transaction volume increases, Altcoin Value A rebound above $0.052 is likely.
On the other hand, this may not happen if selling pressure increases. In this case, the price of JasmyCoin could drop to $0.033. It could also lose its position as the top-performing altcoin JASMY.
Disclaimer
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