Japanese multinational electronics company Panasonic recently collaborated with JasmyCoin (JASMY), which was recently listed on Binance. However, this announcement was revealed by the CFO of JASMY on X (previously Twitter). The CFO highlighted that this collaboration aims to build a Web 3 platform that securely connects your personal data vault to smart devices like your fitness tracker or smart thermostat.
JASMY token’s recent announcement
The JASMY CFO stated, “We will spend 3-6 months building a platform that ties a personal data locker, a decentralized DB, to the IoT and allows device information to be attributed to individuals and provided to others securely.”
JASMY, known for its focus on Internet of Things (IoT) applications within the cryptocurrency industry, made waves recently with a massive surge of over 160% following the regulatory update on crypto investments in Japan.
Additionally, the platform’s foundation rests on JASMY’s Personal Data Locker (PDL) technology, complemented by Panasonic’s extensive expertise in IoT solutions. By leveraging these combined capabilities, the partners aim to address key challenges in the IoT landscape, including data security, ownership, and interoperability.
With the global IoT connections projected to reach 27 billion by 2025, the integration of Web3 technologies holds immense potential to shape the future of interconnected devices. By revolutionizing data management and utilization in IoT ecosystems, the new platform promises enhanced security, greater data ownership, and seamless interoperability.
Following this collaboration, the price of JASMY soared more than 12% in just 24 hours. If we look at the performance of the JASMY token over a longer period, in the last 7 days, the JASMY token price experienced a surge of over 40%. Whereas, in the last 30 days, JASMY experienced a massive upside momentum of over 60%.
JASMY technical analysis and upcoming price
According to expert technical analysis, the JASMY token is bullish as it has formed an inverted head and shoulders pattern structure, which indicates a bullish sign for any asset. However, it is currently experiencing resistance at the neckline. If the JASMY token on the daily timeframe gives a breakout of this inverted head and shoulders pattern, then in the coming days, we may see a bullish move toward $0.04.
Besides the price surge following this collaboration, JASMY’s token 24-hour volume soared more than 97%, and currently, it stands near $219 million. However, currently, the overall cryptocurrency market is up by over 5%, and other top cryptocurrencies like Bitcoin, Ethereum, Solana, and others also experienced a massive price surge of over 6%.
