Japanese start-up Jasmy Corporation's token, JASMY, is up 8% today, at one point showing a rise of more than 14%. While JASMY is generally a volatile token, the token's price action today has a fairly fundamental basis.
In fact, JASMY got caught up in the AI hype after the project roadmap for 2023 was made public a few days ago. Among other things, the company's current plans noted the development of its own AI engine in the first half of 2023.
AI cryptocurrencies hype
As reported by U.Today, cryptocurrencies belonging to the artificial intelligence sector have become a key focus amid the growing global popularity of apps such as ChatGPT and Midjourney. While being mostly low-capitalization projects until early 2023, AI token quotations have started to rise rapidly at a triple-digit rate, showing dynamics worthy of a true bull market.
In the last 24 hours, for example, during another round of revaluation, the capitalization of the entire sector rose by 25% to $4.75 billion, according to CoinMarketCap. In fact, JASMY, in line with its new development plan, has also fallen into this category and attracted additional attention from crypto enthusiasts.
At the same time, as a crypto start-up focused primarily on the Internet of Things, Jasmy Corporation expects to develop its core businesses in 2023 as well. Thus, in addition to the artificial intelligence engine, there are plans to launch a community grant, develop a fan token platform and work with data.