Jasmy price drifted upwards on Wednesday as cryptocurrencies attempted to bounce back. The token jumped to a high of $0.0054, the highest point since March 14. It has bounced back by 20% from the lowest point in March.

The most recent Jasmy news came in earlier this month when the developers announced a list of developers who will receive its grants. The developers received applications of over 100 creators and shortlisted the 6 most promising ones. 

In a statement, the developers noted that JVP Protocol, Clic, Pedao, Metas, Connected2Me, and Mars Search will compete for the funds. These dApps are all diverse. 

For example, Mars Search is a Web3 search engine that provides users with vertical content. It is similar to other popular search engines, with the main difference being that it focuses on crypto content. A search on Trump shows results on associated NFTs.

🎉 Thrilled to announce that the first shortlisted of the #JasmyGrant Program is here now!!

After careful discussions, a total of 6 outstanding projects have been selected for the Grant pool

You can vote for the project you like: https://t.co/uQBNKp3DMRhttps://t.co/GB0dXPhEbv

— Jasmy Grant (@JasmyGrant) April 1, 2023

On the other hand, Pedaoisan NFT mortgage and loan agreement platform uses a mode known as peer-to-pool. The idea is that users can use it to obtain loans by mortgaging their non-fungible tokens. JVP Protocol is a governance aggregator that aims to maximize users’ rewards and aggregate governance behind the JVP token.

The Jasmy grant program hopes to grow the network’s ecosystem as it seeks to compete with other popular chains like Ethereum, Solana, Cardano, and Polkadot. In the past few months, more developers like Algorand and Avalanche has unveiled their grant programs in a bid to grow their networks and attract more developers. Jasmy’s grant program has a cap of $2 million.

According to the grant’s website, most users have voted for JVP Protocol, which has received 10010 upvotes. Clik has just 20 upvotes while the rest have none.

Jasmy chart by TradingView

The daily chart shows that the Jasmy price has been in a tight range in the past few days. In this period, it has managed to move from a low of $0.0043 to a high of $0.0054. It has managed to move above the 50-period moving average while the Relative Strength Index has drifted upwards. 

Therefore, it seems like Jasmy has botttomed, which will likely see it rise to the next key resistance point at $0.0065. A move below the support at $0.0043 will signal that bears have prevailed. This will in turn push it to the next support at $0.0040.

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