Altcoins
Rumors of a partnership with Apple send the Altcoin cryptocurrency soaring by 20%
A whirlwind of speculation currently surrounds the JasmyCoin (JASMY) cryptoasset, colloquially called the “Bitcoin of Japan,” following a recent announcement by the Office of the Prime Minister of Japan. Yesterday it was disclosed that a video conference between Prime Minister Kishida and Apple CEO Tim Cook had confirmed the integration of Japan’s My Number Card feature into iPhones by next spring.
Cryptocurrency Investors Speculate on Collaboration with Apple
The news triggered a significant rally for JASMY, leading to a 20% increase in its market value over the past 24 hours, pushing its market capitalization to $1.4 billion and ranking it as the 67th largest cryptocurrency by capitalization. of the market. The 24-hour trading volume of altcoins also increased by 400% to $570 million.
Although the My Number Card system, a Japanese government personal identification system, is not officially related to JasmyCoin, rumors about a potential connection have been circulating for a few months. Despite no formal confirmation, investors appear to be speculating on a link, influenced by the broader interpretation of Japan’s digital strategy, which includes promoting Web3 Technologies such as blockchain and IoT, domains in which JasmyCoin is a significant player.
JasmyCoin, founded in 2016 by former Sony executive Kazumasa Sato, aims to provide secure transactions and data storage for IoT devices. The cryptocurrency is said to be part of Japan’s broader approach to integrating advanced technologies into everyday life, including Metaverse and NFTs. “Jasmy’s mission is to facilitate the democratization of data through secure management and storage solutions, enabling individuals to maintain control over their personal information.
Speculation about JasmyCoin’s involvement with the My Number Card system appears to be further fueled by an erroneous report shared on Binance Square, which suggests a direct integration of JASMY with card functionality on iPhone. However, this claim has not been confirmed by any official source.
The Japanese government has been a proponent of adopting Web3 innovations as a strategy for economic growth, with the Prime Minister himself highlighting the importance of digital transformations in recent public speeches. The optimistic outlook for blockchain technology in Japan has been a boon for JasmyCoin, with the government’s digital policy indirectly benefiting the cryptocurrency.
JASMY’s recent surge in market activity demonstrates the volatile nature of cryptocurrency markets, where rumors and expectations can drive significant price movements. At present, although JasmyCoin is indirectly aligned with Japan’s digital ambitions, direct partnerships or integrations with government projects such as My Number Card have not been officially confirmed.
Since February 19, JASMY has rallied approximately 380%. However, the altcoin is still down more than 91% from its all-time high of $0.35 in October 2021. At the time of writing, JASMY was trading at $0.03068.
Featured image created with DALL·E, chart from TradingView.com