An investor in JasmyCoin (JASMY) has secured a profit of $387,000 following a significant 140% surge in the cryptocurrency’s price. Lookonchain, a prominent blockchain analytics platform, disclosed the lucrative transaction on X (formerly Twitter), highlighting the savvy investment strategy employed by the individual referred to as “SmartMoney.”
According to Lookonchain’s tweet, the SmartMoney investor initially deposited 20 million JASMY tokens, valued at $231,000, into Binance, a leading cryptocurrency exchange. This move came just 12 hours before the tweet, capitalizing on the price surge. Prior to the increase, the investor had accumulated 71.62 million JASMY tokens at an average price of $0.0063 per token, resulting in a total investment of $451,000.
JasmyCoin Price Goes Bullish
The price of JasmyCoin has seen a remarkable uptick, now standing at $0.01244, marking a 19.76% increase over the past 24 hours and an impressive 139.69% rise over the last month. This rally has significantly augmented the value of SmartMoney’s holdings, leaving the investor with 51.62 million JASMY tokens currently valued at $607,000. The net profit from this venture, as reported, stands at around $387,000.
The recent price rally has not only benefited the astute investor but has also significantly boosted JasmyCoin’s market standing. The cryptocurrency’s 24-hour trading volume has escalated by 45.63%, reaching a substantial $834.85 million. Concurrently, JASMY’s market capitalization has risen by 19.69%, now valued at $613.22 million, positioning it as the 111th largest cryptocurrency in terms of market capitalization.
The surge in JasmyCoin’s price and the consequential profit reaped by the investor underscore the volatile yet potentially lucrative nature of the cryptocurrency market. Investors and market spectators alike are closely monitoring JASMY’s performance as well as JASMY price prediction, as the digital token continues to make waves in the crypto sphere.
The significant profit the SmartMoney investor garners is a testament to the high-risk, high-reward paradigm that defines the cryptocurrency trading landscape. As the market continues to evolve, stories such as these highlight the potential gains that can be realized through strategic investment and market timing.
Source: https://blockchainreporter.net/jasmycoin-jasmy-investor-nets-387k-profit-amid-140-price-surge/