JasmyCoin (JASMY) price jumped in intraday trading on Friday as the Asian session saw an upside flip for most tokens.
With multiple catalysts helping prices higher, the JASMY token rose more than 15% to join Lido DAO (LDO) and Ondo Finance (ONDO) as the top three biggest gainers in 24 hours.
This is per the CoinMarketCap ranking of top performers in the 100 largest coins by market cap.
Gains for JASMY, ONDO and LDO came as Bitcoin’s price bounced off lows of $101k on Thursday.
The flagship digital asset traded to above $105k as the market reacted to the latest industry-related news and developments.
Among these is President Donald Trump’s signing of an executive order on crypto, with the establishment of a digital asset stockpile one of the key details.
The US Securities and Exchange Commission’s repeal of its Staff Accounting Bulletin 121 also acted as a positive driver.
Earlier, Trump’s speech at the World Economic Forum at Davos and Senator Cynthia Lummis taking up the Senate Banking Subcommittee on Digital Assets had also added to the market’s upbeat mood.
JASMY price performance today
JasmyCoin remains well off its all-time high reached in 2021 and has struggled since hitting $0.06 in early December 2024.
However, the altcoin has notched some significant gains in the past 24 hours, trading to near $0.03.
The JASMY/USD pair rose more than 15% as daily volume spiked 120% to over $151 million.
Bulls’ resilience above $0.025 where the 200-day simple moving average provided a reload zone is part of the bigger picture for JASMY.
SoftBank and the $500 billion AI investment project
Overall market conditions will be critical to JASMY price in the short term.
However, analysts are increasingly bullish on the “Japanese Bitcoin” after the recent Stargate deal that brings together OpenAI, SoftBank, Oracle and GMX.
JasmyCoin has previously had positive collaborations with SoftBank hence the surge in price after the $500 billion AI infrastructure project Trump announced this week.
Jasmy’s focus on decentralized data infrastructure, with GPU resources for artificial intelligence is not lost on traders.
The forecast is that the AI deal bringing together Stargate will spur the broader ecosystem. JASMY could have a first mover advantage with its massive traction in Japan.
What next for JasmyCoin?
With the crucial 200MA in place as strong support, its possible buyers may target year-to-date highs around $0.04.
The bullish reversal will encourage bulls – gains for the broader market being a key factor.
On the 4 hour chart, the Moving Average Convergence Divergence indicator and the Relative Strength Index suggest the advantage is with the buyers.
The MACD has the histogram pointing to an increase in bullish momentum while the RSI at 56 and up-sloping suggests further room for bulls to run.
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