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

4 min read | August 08, 2022 11:41 AM AEST | By Ankit Sethi

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

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?

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.