JasmyCoin Hits New Milestone: What’s Fueling JASMY’s Ascent?

December 8, 2024 at 09:35 AM GST updated: December 7, 2024 at 10:04 PM 2 mins read Crypto Live News

• JASMY reached a 2-year high with a 34.3% surge and increased trading volume.
• Rising active addresses and whale transactions show growing demand and investor confidence in JASMY.
• Whale accumulation and long-term profit margins position JASMY for further growth potential.

JasmyCoin (JASMY) has recently hit a 2-year high of $0.0594, sparking interest across the market. Over just one day, JASMY surged by 34.3%. With rising trading volume and a boost in profit margins, the big question is: what’s driving this spike? Can JASMY continue this strong performance?

Rising Demand and Network Activity

JASMY’s recent rally is rooted in growing activity across the network. Active addresses soared by 91.76%, climbing from 3.4k to 6.52k. This increase signals higher demand and adoption, key factors in pushing prices higher. The rise in users indicates strong support for the token.

Additionally, large transactions have increased by 176.43%, from 140 to 387. This surge suggests that whales are actively buying JASMY, showing strong confidence in the token’s future. When whales move, it often leads to upward price pressure. Their buying activity plays a big role in the rise.

Whale Accumulation and Growing Profit Margins

Whale interest is evident in JASMY’s recent performance. Capital inflows from large holders jumped from $695.77 million to $1.12 billion in just 24 hours. This spike in whale accumulation strengthens the upward trend, creating buying pressure.

Along with this, more long-term holders are moving into profit. The Long/Short difference surged from 22.53% to 78.41% in just one week. This shift shows increasing confidence among investors. As whales hold their positions, their growing profits point to more potential gains.

JasmyCoin’s rise is driven by both whales and retail traders. If the trend continues, JASMY could target the $0.059 level again, aiming for $0.06. However, a slight dip to around $0.047 may follow if the market corrects.

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