What is Assemble Protocol (ASM) crypto and why is it in focus?

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What is Assemble Protocol (ASM) crypto and why is it in focus?

 What is Assemble Protocol (ASM) crypto and why is it in focus?

Highlights

  • Assemble Protocol claims it can help use the points earned by users in a more effective manner
  • The ASM crypto is rising currently, but there has been no new listing or any other major update recently
  • The overall crypto market is also in the green, but prices of these assets can be very volatile

The cryptoverse can be very strange and unpredictable. As of writing, CoinMarketCap is tracking close to 20,500 cryptoassets, and any of these can rise or fall sharply at any time.

One asset that is rising very sharply at the moment is Assemble Protocol crypto or the ASM token. The price of this cryptocurrency has witnessed a spike of double-digit percentage over the past few hours, with a close to 1,500% increase in its 24-hour trading volume. Let us explore the Assemble Protocol crypto and try to understand the reason behind this rally.

What is Assemble Protocol cryptocurrency?

The Assemble Protocol project looks quite different from usual blockchain-based ventures. It bills itself as a “point exchange” or a points integrator, which can enable more effective usage of points accumulated by consumers. For example, when the customer of an airline purchases a ticket and gets some reward points, these can be integrated and used like cash, Assemble Protocol claims.

Assemble Protocol is based on the same decentralised technology, blockchain, which other cryptocurrency ventures use. However, the concept here is that the native ASM token is an outcome of points integration, and it is not like a meme token or some blockchain network transaction fee token.

Assemble Protocol has two key partners -- STA1.com, and YW Mobile, and it is inviting more companies to partner with it and allow customers to make better use of accumulated points. The project is presently focused more on the South Korean market. It is also offering a marketplace to use the ASM token and make real world purchases.

Also read: What is Instagram NFT integration & how to use it?

ASM crypto

The ASM token, usually referred to as the ASM crypto, is native to Assemble Protocol. The price per token is presently US$0.04, which is up more than 75% over the past few hours. The token’s 24-hour trading volume, according to CoinMarketCap, is over US$28 million. The market cap of the ASM token is over US$40 million.

ASM crypto price

Data provided by CoinMarketCap.com

Why is the ASM token rising?

There is seemingly no big factor, like a new listing or a new partnership announcement, that might be lifting the token’s price. A Coinbase listing last year nearly doubled the price of the ASM crypto. For now, its points integration services seem to be attracting the interest of enthusiasts, which has resulted in the sudden and very sharp rise in value and trading volume.

Bottom line

The cryptoverse has a very wide choice of assets, and the prices of these assets can be very volatile. As of now, the ASM crypto, of the Assemble Protocol project, is witnessing a spike for some unidentifiable reasons. Due diligence is very important when looking at the crypto sector.

Also read: Is Bitcoin to blame for Saylor quitting MicroStrategy’s CEO office?

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