Colossal 860% Surge: This Altcoin Outperforms Top 100 Tokens While Aiming For New Heights
While Bitcoin (BTC) and other leading cryptocurrencies have been making headlines with their recent gains, an often-overlooked altcoin, JasmyCoin (JASMY), has delivered an astonishing 861% surge year-to-date, outperforming the top 100 tokens in the market. As of Thursday, JASMY broke out of a seven-month consolidation phase, climbing to $0.054.
The Altcoin Outperforming Major Cryptos
In addition to its impressive yearly 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.
Market experts anticipate that the overall markets bullish trend could continue at least until the second quarter of 2025, suggesting further growth potential for JASMY, which remains 98% below its all-time high of $4.79, reached during the 2021 bull market.
However, with further gains expected in the coming months, potentially reaching a cycle top by October 2025, Ethereum (ETH), the second largest crypto, will play a key role as it often leads the way for further price appreciation like the altcoin in question.
But, what exactly is JasmyCoin, and why has it attracted significant investment in recent weeks?
JasmyCoin Eyes Key Resistance Levels
JasmyCoin is the native token of the Jasmy platform, which aims to democratize data usage 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 safely store and manage their data while granting businesses 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 data transfer and storage, payment for services, facilitating market entry for institutional investors, offering crypto loans, and optimizing tax strategies.
In contrast to Bitcoins year-to-date gains of 120%following its recent all-time high of $104,000JASMY has significantly outperformed the largest digital asset.
According to CoinGecko data, Bitcoin saw a trading volume increase of 64% compared to Wednesday, while JasmyCoin recorded a nearly 100% surge in trading volume during the same period.
As JasmyCoin continues its upward trajectory, technical analysis reveals critical resistance levels at $0.063, $0.067, and $0.070 on its JASMY/USDT daily chartheights not seen since January 2022. These levels could pose challenges to further price surges for the altcoin.
Conversely, key support levels to monitor include $0.040, which is vital for maintaining bullish momentum, and $0.031. Holding these support levels will be crucial for the altcoin as it aims to inch closer to the $0.10 mark.
Featured image from DALL-E, chart from TradingView.com
Source: NewsBTC.com
The post Colossal 860% Surge: This Altcoin Outperforms Top 100 Tokens While Aiming For New Heights appeared first on Crypto Breaking News.
Text source: Crypto Breaking News
