JasmyCoin (JASMY) price jumped in intraday trading on Friday as the Asian session saw a bullish reversal for most of the tokens.
With several catalysts helping prices rise, the JASMY token rose more than 15% to join Lido DAO (LDO) and Ondo Finance (ONDO) as the top three 24-hour gainers.
This is according to CoinMarketCap’s ranking of the best performing coins in the 100 largest coins by market cap.
The gains for JASMY, ONDO and LDO came as the price of Bitcoin rebounded from its lows of $101,000 on Thursday.
The major digital asset traded at over $105,000 as the market reacted to the latest news and developments related to the industry.
Among these is President Donald Trump signing an executive order on cryptocurrencies, with the creation of a digital asset stockpile as one of the key details.
The US Securities and Exchange Commission’s rescission of its Staff Accounting Circular No. 121 was also a positive driver.
Earlier, Trump’s speech at the World Economic Forum in Davos and Senator Cynthia Lummis’s assumption of the Senate Banking Subcommittee on Digital Assets increased the optimistic mood in the market.
JASMY price performance today
JasmyCoin is still far from its 2021 all-time high and has been struggling since it reached $0.06 in early December 2024.
However, the altcoin has made some big gains over the past 24 hours, trading near $0.03.
JASMY/USD rose more than 15% with daily trading volume rising 120% to more than $151 million.
Bulls’ resilience above $0.025 where the 200-day SMA provides a reload zone is part of the bigger picture for JASMY.
SoftBank and its $500 billion artificial intelligence investment project
General market conditions will be crucial to JASMY’s price in the short term.
However, analysts are increasingly bullish on “Japanese Bitcoin” following the recent Stargate deal combining OpenAI, SoftBank, Oracle, and GMX.
JasmyCoin previously had positive collaborations with SoftBank and then the price rose following the $500 billion AI infrastructure project announced by Trump this week.
Jasmy’s focus on decentralized data infrastructure, with GPU resources for AI is not lost on traders.
The expectation is that the AI deal that brings together Stargate will stimulate the broader ecosystem. JASMY could have a first-mover advantage thanks to its massive traction in Japan.
What’s next for JasmyCoin?
With the crucial 200MA as strong support, potential buyers may target year-to-date highs at $0.04.
A bullish reversal will encourage the bulls – with broader market gains being a key factor.
On the 4-hour chart, the Moving Average Convergence-Divergence (MACD) and RSI indicate that the advantage is in the hands of buyers.
The MACD has a histogram indicating an increase in upward momentum, while an RSI of 56 and an upward slope indicate more room for the bulls.
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