JasmyCoin (JASMY), often called "Japan's Bitcoin," extended its recovery this week, surging 11% on Friday to trade at $0.00917 — roughly 70% higher than its December trough. Spot market volume jumped 15% in 24 hours to over $156 million. In derivatives, Jasmy's futures open interest climbed to $41.4 million, the highest since September last year, from less than $10 million in December.
Exchange supply dives while whales accumulate
On-chain data reveals continued accumulation by both whales and retail traders. According to Nansen, the top 100 holders increased their positions by 92% over the past 90 days, holding over 41.59 billion tokens. Meanwhile, CoinGlass data shows Jasmy's supply on exchanges has collapsed from over 11.6 billion in January last year to a record low of just 7.99 million — a drop of more than 99%. The persistent outflow signals a shift toward long-term holding.
On the fundamental side, perpetual futures platform Aster listed Jasmy, while developers confirmed plans to launch the Jasmy Layer-2 mainnet and expand the Base App ecosystem later this year, fueling bullish sentiment.
Double-top pattern raises reversal risk
Technically, Jasmy formed a double-bottom at $0.0056, broke above the neckline at $0.0066, and then rallied inside a falling wedge. The coin now sits above both the 50-day and 100-day moving averages. However, a double-top has emerged at $0.010, with the neckline at $0.0081. A decisive break below $0.0081 could trigger a steep decline toward the initial target of $0.00815. The conflicting patterns suggest heightened uncertainty and elevated downside risk in the near term.