JasmyCoin (JASMY) has emerged as the top performer among the top 100 cryptocurrencies, driven by increased whale activity and the recent approval of spot Ethereum (ETH) ETFs in the United States.

JasmyCoin (JASMY) has experienced a remarkable 26% increase in the past 24 hours, reaching a price of $0.028 at the time of writing. This marks the first time since April 2022 that JASMY has achieved this price level. Despite this surge, JASMY remains significantly below its all-time high of $4.99, recorded on February 16, 2021, representing a 99.44% decline from that peak.

The daily trading volume of JASMY has also seen an impressive increase, surging by 600% to reach $422 million. The asset’s market capitalization is approaching $1.4 billion, positioning it as the 69th-largest cryptocurrency currently.

JASMY is the native token of Jasmy Corporation, a Japanese Internet of Things (IoT) provider. The platform aims to integrate blockchain technology with IoT to enable users to transform their digital information into digital assets. Jasmy Corporation was founded by prominent executives, including Kunitake Ando (former COO at Sony Corporation), Kazumasa Sato (former CEO of Sony Style.com Japan Inc.), and Hiroshi Harada (executive financial analyst at KPMG), among others.

The recent price rally of JasmyCoin aligns with a broader bullish trend in the cryptocurrency market following the approval of spot ETH ETFs. This regulatory milestone has fueled positive sentiment across the sector, benefiting various digital assets, including JASMY.

Data from Santiment reveals a significant increase in whale transactions involving JASMY, with the number of transactions exceeding $100,000 rising more than eightfold in the past 24 hours, from four to 37 unique transactions per day. This surge in whale activity suggests potential for high price volatility and substantial price movements, as large investors might engage in short-term profit-taking or a mass selloff.

Furthermore, market intelligence data indicates that the dormant circulation of JASMY tokens for 365 days has increased from 3.4 million to 24.28 million tokens. This rise implies that some investors are preparing to take profits, potentially impacting the token's price stability.

The Relative Strength Index (RSI) for JASMY currently stands at 82, signaling that the asset is overvalued at its current price. For JASMY to sustain its bullish momentum, the RSI would need to cool down below the 50 mark, indicating a healthier and more sustainable growth trajectory.

Overall, JasmyCoin's recent performance reflects a combination of increased market activity, positive regulatory developments, and strategic movements by large investors, positioning it as a noteworthy contender in the evolving cryptocurrency landscape.