Who owns the most Jasmy crypto? High concentration among top 10 holders as price of Japan’s bitcoin plumbs new depths

Who owns the most Jasmy crypto? High concentration among top 10 holders as price of Japan’s bitcoin plumbs new depths

JasmyCoin (JASMY) has been on a bear run for over a year now, falling by more than 99% since peaking for the last time in May 2021. As of 11 November, the coin was valued at $0.0041.

Despite a downfall in JASMY price action, the token has been seeing a surge in active addresses. Let’s have a closer look at who owns the most JASMY crypto.

What is JASMY?

Jasmy is a Japanese internet of things (IoT) company that aims to make data sharing safer, and more decentralised and democratised. It specialises in the safe buying and selling of personal data. It was founded in April 2016 by Kunitake Ando and Kazumasa Sato, two former Sony executives, and Hiroshi Harada, a former employee at KPMG.

Harada, who serves as the platform’s CFO, told Binance in an interview in September 2022:

“Jasmy’s mission is to create a mechanism/platform which allows all users to take ownership of their own data in a secure and private manner. Instead of letting a handful of big tech corporations take control of such sensitive data, Jasmy aims to help enable a world where everyone can feel safe and secure about the use of their own data.”

The platform allows users to:

  • Store and control their data in a safe and secure environment
  • Safely and securely manage and control their devices
  • Provide safe and secure use of their data under clear rules

Jasmy’s Personal Data Locker (PDL) provides users with full ownership over their personal data while its Secure Knowledge Communicator (SKC) is responsible for the achievement of data democracy.

The platform promises to provide its customers with an IoT platform that will help them manage their IoT data securely and efficiently; IoT devices and services that will help customers with the development and maintenance of their IoT platforms and thorough data analysis which will be used for the further improvement of the platform.

Jasmy’s native token, JasmyCoin (JASMY), is used by companies that wish to purchase the users’ data stored on the platform. The token can also be used by users as investment, for governance and metaverse utility. JASMY was built on the Ethereum (ETH) ecosystem and is an ERC-20 token.

JASMY was launched at the end of October 2021 and has been dubbed  as “Japan’s bitcoin”.

JASMY supply explained

According to data provided by CoinMarketCap, JASMY has a maximum and total supply of 50 billion coins. This makes the coin a deflationary asset, similar to bitcoin (BTC), due to the limit on how many coins can be mined.

As of 11 November 2022, the token had a circulating supply surpassing 4.7 billion and a market capitalisation of $19.4m.

JASMY was Japan’s first ever legally approved cryptocurrency as the country had imposed a strict regulation for this market. It was listed on the Japanese crypto exchange BITpoint on 27 October 2021.

The cryptocurrency was met with a lot of enthusiasm upon its launch, skyrocketing by more than 230% in four days from $1.3024 on 12 February 2021 to $4.2929 – an all-time high following its listing on the crypto exchange Gate.io.

After the fast surge, the token lost over 58% of its value falling to $1.7851 by 22 February 2021, but managed to regain 67% of its value soon after, reaching $2.9628 on 2 March 2021.

JASMY grew past the $2 barrier once again on 9 March 2021 as the platform announced it had joined GitHub, thus providing a space where its users could discuss upcoming projects, news and bugs.

JASMY to USD chart, February 2021 – November 2022

JASMY to USD chart, February 2021 – November 2022

Source: CoinMarketCap

By 5 May 2021, however, the coin lost around 50% of its value, falling to $1.0965 before seeing a mini-surge on the following day and rising to $2.1586. The bullish price action did not last long. The coin entered a bear run, falling by 95% in the following weeks and reaching $0.05456 on 20 June 2021.

Since then, the coin was unable to reach previous highs, falling by an additional 92.4% to $0.004122 as of 11 November 2022.

Who owns the most JASMY crypto?

In the past two months, JASMY lost over 57% of its value, falling from $0.009717 on 10 September 2022 to $0.004122 on 11 November 2022. Despite the continued bear trend, token concertation among the top 10 JASMY holders remained high.

Data published on Sanbase showed that the number of active JASMY token addresses spiked to 673 on 30 October from 224 the day before. The number of active JASMY holders spiked once again on 9 November to 719 from a low of 273 on 7 November 2022.

So, who has the most JASMY tokens? Data provided by etherscan.io showed that there are 36,169 JASMY holders in total. The 10 biggest JASMY holders, as of 11 November, collectively owned 51.33% of the total token supply in circulation, meanwhile the top 100 owned 85.44%.

The website noted that the top account holding the most JASMY tokens was the world’s biggest cryptocurrency exchange Binance (BNB). Binance owned 23.43% of the total supply, which amounted to 11.7 billion JASMY coins worth around $48,500, as of 11 November. It’s likely that the exchange is holding the tokens on behalf of its users.

The second on etherscan’s top holders of JASMY list was crypto exchange Mexc.com. It owned 5.86% of the total supply, amounting to 2.9 billion tokens. Mexc.com could own JASMY tokens on behalf of its users.

The third biggest JASMY account was Jasmy Deployer which held 4.8% of the tokens’ total supply amounting  to 2.4 billion coins. The fourth and fifth biggest JASMY holders were two anonymous wallets holding 4.12% (1.34 billion coins) and 2.7% (1.29 billion coins) of the tokens’ total supply respectively.

Analyst views on Jasmy’s tokenomics

Knowing who owns the most JASMY tokens can be of use to many retail investors and traders, Anndy Lian, chief digital advisor at the Mongolian Productivity Organisation and author of ‘NFT: From Zero to Hero’, told Capital.com:

“The concentration of tokens on exchanges on leading exchanges such as Binance is a confidence booster for many retail investors.

“JASMY has gained interest from some of the biggest names in Japan’s technology industry. Pansonic and VAIO have also partnered with JASMY. During the COVID-19 pandemic, the largest call centre in Japan, Transcosmos, used JASMY to secure its data. The big names using JASMY’s technology are a really attractive selling point for retail investors.”

Lian added that for JASMY to truly grow, the firm would need to showcase its technology and focus on revenue.

“After all, they are the first legally compliant Japanese crypto coin listed on the Japanese cryptocurrency exchange. Japanese law strictly governs cryptocurrency transactions subject to Financial Services Agency inspections. Being accountable by Japanese law, they need to walk away from fluff and hype and concentrate on real business first.”

Please note that analysts’ predictions and opinions can be wrong. The information about the biggest cryptocurrency whales and ownership concentration shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before trading. And never invest or trade money you cannot afford to lose.

 

Source: https://capital.com/jasmy-token-who-owns-most-jasmycoin-crypto

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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The domino effects from FTX’s issue. Bitcoin, Ether in a sea of red. What next for the cryptocurrency market?

The domino effects from FTX’s issue. Bitcoin, Ether in a sea of red. What next for the cryptocurrency market?

The FTX’s situation is not promising at the time of publishing. These are the additional comments I had.

Before the FTX incident, we analysed that there was a chance for the market to see one last pump before the end of the year.

After the incident and if there is no bailout for FTX, I would think this would be another black swan event. Based on what we see right now, there is only an $8 billion liquidity gap. Still, the numbers can go very high if you look at the ecosystem, Defi loan products and the various parties such as leading venture funds, sovereign wealth funds, and pension funds involved. The domino effects could be greater than the Terra/ UST event.

I know of a few venture capital companies who just did a restructure and are in the middle of another fundraising from the previous loss due to Terra. Now, they are being hit once again. I do not think their LPs are going to give them more money. They are gone. You will see them in the news very soon.

If you are not part of FTX ecosystem and have no exposure to them, you should continue to focus on your community, continue to build and ignore the noises. If you have exposure to FTX, my friendly advice is to protect your principal investment, exit while you can to stay afloat. The ride will be very bumpy.

Bitcoin, Ether in a sea of red. What next for the cryptocurrency market?

The scrapping of the Binance-FTX deal has shaken the confidence of investors already licking their wounds following the collapse of Terraform Labs, Three Arrows Capital and Celsius Network

The cryptocurrency market continued its death spiral for the second consecutive day after Binance scrapped a deal to acquire rival exchange FTX.

Prices of major digital assets tumbled to monthly lows, led by Bitcoin, which headed towards $15,000 before rebounding to about $16,800, still down about 10% over the past 24 hours.

Ethereum, the second-largest cryptocurrency by market capitalisation, dropped to $1,087.08 before staging a mini-rally and settling at about $1,180, about 10 percent lower over the past day.

It’s been a turbulent week for cryptocurrencies as the market reacted to reports surrounding two of the biggest cryptocurrency exchanges in the world. Binance, the world’s largest digital asset exchange by volume, said on November 8 it agreed to buy FTX and rescue billionaire Sam Bankman-Fried’s startup from a liquidity crunch.

However, Binance made a U-turn barely 24 hours later. It said that after due diligence and reports regarding mishandled customer funds and alleged US agency investigations, it decided to not pursue the FTX acquisition.

According to a Coindesk report, the native FTT tokens of the FTX, which are also owned by the company, were found in large quantities on the balance sheet of Alameda Research, a cryptocurrency trading company run by Bankman-Fried, prompting widespread criticism of the token.

This meant that Alameda was primarily based on a coin that a sister company created rather than on a standalone asset like fiat money or another cryptocurrency.

 

Fretting investors

Scurrying for cover amid rumours that the FTX would go bankrupt, investors liquidated their FTX-linked coins to reduce possible losses. Binance, which had more than $500 million worth of FTT on its books, began to sell its holdings, exacerbating the woes of an already ailing market.

The blow-hot-blow-cold relationship between Binance CEO Changpeng Zhao and Bankman-Fried shook the market’s confidence as investors fretted over every development in a sector already licking its wounds following the collapse of Terraform Labs, Three Arrows Capital and Celsius Network.

Among other major cryptocurrencies, Binance (BNB) was down 10 percent, Ripple (XRP) was 5 percent lower, Cardano (ADA) dropped 6 percent, Dogecoin (DOGE) declined 7 percent, and Solana (SOL) had plunged 30 percent when this was written.

While some experts said this may be an opportune time for institutional investors, others emphasised the urgent need for greater regulation of the crypto market.

Raj Kapoor, founder of India Blockchain Alliance, said individual investors may become inactive for a while and institutional investors will probably take advantage of the current discounts and hedge their bets.

“This development will give other exchanges a boost and investors should transfer their altcoins into Bitcoin, Ethereum, and other stablecoins and store them in a cold wallet until the market stabilises and wait for the upswing,” Kapoor said.

He added that the FTT fall may trigger a chain reaction of liquidations because FTX’s lenders may also collapse, taking investors down with them.

“I see a lot of other businesses and endeavours going out of business or filing for bankruptcy,” Kapoor said.

Sharat Chandra, cofounder of India Blockchain Forum, said the FTX fiasco exposes the lack of disclosure and transparency that afflict the current digital asset ecosystem.

 

Investor protection

“After the Terra Luna debacle, the FTX incident presents another opportunity to regulators to frame stringent regulations, which might end up stifling innovation. It’s time the G-20 members act swiftly and frame global regulations to avoid regulatory arbitrage and ensure investor protection,” he said.

Anndy Lian, author of NFT: From Zero to Hero, said if there is no bailout for FTX, this would be another Black Swan event. Looking at the ecosystem’s liquidity gap, Defi (decentralised finance) loan products and various parties such as leading venture funds, sovereign wealth funds and pension funds involved, the numbers can go very high.

“The domino effects could be greater than the Terra/UST event. If you are not part of the FTX ecosystem and have no exposure to them, you should continue to focus on your community, continue to build and ignore the noises. If you have exposure to FTX, my advice is to protect your principal investment, exit while you can to stay afloat. The ride will be very bumpy,” Lian said.

 

Source: https://www.moneycontrol.com/news/business/cryptocurrency/bitcoin-ether-in-a-sea-of-red-what-next-for-the-cryptocurrency-market-9488591.html

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Apples and oranges? How the Ethereum Merge could affect Bitcoin (With additional commnets)

Apples and oranges? How the Ethereum Merge could affect Bitcoin (With additional commnets)

Additional comments by Anndy Lian on top of what CoinTelegraph has mentioned.

The Merge is the right direction for cleaner crypto mining. The more direct impact I see after the transition is that bitcoin becomes the biggest target for green activists. There were more reports about bitcoin’s energy usage and mostly negative.

And because of the switch, many experts also said miners would forgo POW mining, but I say otherwise. I see the ETH POW Forks projects are working hard. The miner communities are now more united now than ever. For example, Bitmain also brought down the prices of their Antminers to help the miners get back into profits. These various factors helped the miners offset their operating costs in this bear market, keeping them alive.

Additionally, a good point to highlight is bitcoin’s hash rate. The hash rate continues to surge, recording new all-time high daily. The chip shortage has turned around, and the price of GPU is now at a more reasonable value. Taking GeForce RTX 3090 Ti, for example, the MSRP is $2,000, and it came down to $1,030 in September. These are positive signs for bitcoin.

As I have said before the transition, the impact of The Merge will not have too much boost for the crypto industry in the short run. What Vitalik has planned for Ethereum is a long-term vision. As for bitcoin, it is another kind of animal; it is the big brother. If bitcoin drops, the impact on every other cryptocurrency is inevitable.

 

Apples and oranges? How the Ethereum Merge could affect Bitcoin

While the Ethereum Merge failed to move Bitcoin from a price standpoint, the industry believes we have yet to see the effects of its shift from PoW to PoS.

It’s been a month since Ethereum said goodbye to an essential feature its blockchain shared with Bitcoin. Called the Ethereum Merge, the long-hyped upgrade was widely celebrated, with the blockchain ecosystem. However, for the mainstream audience or even for the average trader, it felt more like a Star Wars Day celebrated by sci-fi geeks than an early Christmas.

As the Ethereum Merge occurred on Sept. 15, the most extensive blockchain ecosystem parted ways with the proof-of-work (PoW), the energy-hungry consensus mechanism that makes Bitcoin tick. The Ethereum blockchain now works on a more eco-friendly proof-of-stake (PoS) mechanism that doesn’t require any mining activities, leaving thousands of miners worldwide scratching their heads.

Price-wise, Bitcoin is yet to take a hit from the fundamental shift of its closest competitor. A whole month has passed since the Ethereum Merge, and the BTC price is still stuck between $18,000 and $20,000.

However, the overarching mainstream narrative of “Bitcoin should contribute to the world, not destroy it by depleting energy resources” is rekindled with Ethereum’s significant switch to a system that keeps blockchain alive with minimal resource consumption.

Ethereum avoided a dead end

Cointelegraph reached out to industry insiders to get a clearer picture of the Ethereum Merge’s impact on Bitcoin.

“PoW was a dead end for Ethereum,” says Tansel Kaya, a lecturer at Kadir Has University and the CEO of blockchain developer Mindstone, “Because an Ethereum network that doesn’t scale can not live up to its promise.”

However, the Bitcoin community is not happy with the way its biggest price competitor took, according to Kaya. The BTC community often criticizes PoS for being vulnerable to censorship, he remarked, adding:

“If what [Bitcoin maximalists] say is true, Ethereum will either turn into a docile fintech network that is censored by governments, or a centralized structure like EOS, controlled by wealthy investors.”

Speaking to Cointelegraph, Gregory Rogers, CEO and founder of crypto-based gifting platform Graceful.io, noted that the Merge solidified the two distinct blockchains’ positions in the market. “Ethereum remains the transaction chain of choice with its increased speed and reduced fees,” Rogers said, adding, “Bitcoin is now the store of value of choice. They were already headed in this direction, but the Merge simply clarifies it.”

From a price point, though, multichain marketplace UnicusOne founder and CEO Tashish Raisinghani believes that Bitcoin price will take a hit. “The crypto industry had a hard time because of macro-level challenges which resulted in the current bear market,” he said, adding that the Merge would make Ethereum more sustainable compared to Bitcoin, “Which hasn’t yet been able to recover from the Chinese mining crackdown in 2021.”

PoW is unrivaled in network security

Addressing the energy side of the argument, John Belizaire, CEO of eco-focused data center company Soluna Computing, told Cointelegraph that even though Ethereum’s switch to PoS could save energy, “It will also undermine the core decentralization aspect of cryptocurrency.”

Although Bitcoin’s PoW consensus mechanism is energy-intensive, it is also fundamental to the blockchain and “is the best choice for any cryptocurrency that prioritizes network security.”

Co-locating flexible crypto mining centers with renewable energy plants can help stabilize the electric grid, solve renewables’ wasted energy issue, and provide an abundant source of cheap energy to crypto miners, Belizaire added.

The Merge united crypto miners

Bitmain also brought down the prices of Antminers, its flagship crypto mining units, to help miners get back into profits, he added:

Despite the Merge, Ether miners won’t simply forgo PoW mining just because Ethereum Classic is not minted via mining anymore, according to Anndy Lian, author of the book NFT: From Zero to Hero. Lian told Cointelegraph that the EthereumPoW (ETHW) project — the result of a hard fork after the Merge — is working hard and the miner community is more united than ever.

“These various factors helped the miners offset their operating costs in this bear market, keeping them alive.”

Joseph Bradley, the head of business development for Web3 service provider Heirloom, likened Bitcoin to “a global risk asset that is correlated to TradFi markets.” Bradley told Cointelegraph that, although Ether may be traded similarly, it still has neither the market depth nor the size that Bitcoin has. “Do we expect the world to become more or less chaotic in the coming years?” he asks rhetorically, answering:

“Most people would lean towards more chaotic. Security will matter during this time. Bitcoin will become even more important. Expensive energy will create innovation with miners — They will most likely move toward positioning Bitcoin mining as an extension of the electrical grid itself.”

Bitcoin and Ethereum: “Apples and oranges”

Not everyone agrees that the Ethereum Merge will have an impact on Bitcoin, though. Martin Hiesboeck, head of research at crypto exchange Uphold, dismissed a direct comparison between Ethereum and Bitcoin as “apples and oranges.”

Hiesboeck told Cointelegraph that Ethereum is basically a “company controlled by venture capitalists,” that’s why the transition to proof-of-stake aims to improve its economic and environmental credentials:

“Bitcoin doesn’t need to do that. Bitcoin is not a brand. Bitcoin is a computer network. Its output represents money. Nobody owns it. There is no brand. No CEO.”

Khaleelulla Baig, the founder and CEO of crypto investment platform Koinbasket, supported Hiesboeck’s argument, telling Cointelegraph that the Merge won’t have any meaningful impact on Bitcoin as these assets serve different purposes.

Bitcoin’s purpose is “to prove itself as a superior store of value to fiat currencies,” according to Baig. The PoW mechanism goes well with the purpose of Bitcoin, “As it helps the network maintain the scarcity of 21 million BTC via its difficulty adjustment rate,” he added.

Bitcoin as a PoW and Ethereum as a PoS network are making significant contributions to the crypto-asset ecosystem by competing with their best features. Tansel Kaya summarizes: “Having two distinct approaches rather than one is more suitable for the spirit of decentralization.”

 

Source: https://cointelegraph.com/news/apples-and-oranges-how-the-ethereum-merge-could-affect-bitcoin

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j