Home Technology What is Assemble Protocol (ASM) cryptography and why is it developed?

What is Assemble Protocol (ASM) cryptography and why is it developed?

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What is Assemble Protocol (ASM) cryptography and why is it developed?

The cryptoverse can be very strange and unpredictable. At the time of writing, CoinMarketCap is tracking nearly 20,500 crypto-assetsand each of them can rise or fall sharply at any time.

An asset that is rising very strongly right now is the Assemble Protocol crypto or the ASM token. The price of this cryptocurrency has seen a double-digit percentage spike in the past few hours, with an increase of nearly 1,500% in its 24-hour trading volume. Let’s explore the cryptography of the assembly protocol and try to understand the reason for this gathering.

What is Assembly Protocol cryptocurrency?

The Assemble Protocol project is quite different from the usual blockchain-based businesses. It advertises itself as a “points exchange” or points integrator, which can enable more efficient use of points accumulated by consumers. For example, when an airline customer purchases a ticket and earns reward points, these can be embedded and used like cash, Assemble Protocol claims.

Assemble Protocol is based on the same decentralized technology, blockchain, that other cryptocurrency companies use. However, the concept here is that the native ASM token is the result of dot integration, and it is not like a meme token or a blockchain network transaction fee token.

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

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ASM encryption

The ASM token, usually referred to as ASM crypto, is native to the assembly protocol. The price per token is currently $0.04, which has increased by more than 75% in the past few hours. According to CoinMarketCap, the token’s 24-hour trading volume is over US$28 million. The market capitalization of the ASM token is over US$40 million.

ASM Crypto Price

Data provided by CoinMarketCap.com

Why is the ASM token rising?

There are apparently no significant factors, such as a new listing or a new partnership announcement, which could increase the price of the token. A Coinbase listing last year nearly doubled the price of the ASM crypto. So far, its point onboarding services seem to be gaining interest from enthusiasts, which has resulted in a sudden and very strong spike in transaction value and volume.

At the end of the line

The cryptoverse has a very wide choice of assets, and the prices of these assets can be very volatile. Currently, the ASM crypto, from the Assemble Protocol project, is experiencing a spike for unidentifiable reasons. Due diligence is very important when looking at the crypto industry.

Read also: Is Bitcoin Responsible for Saylor’s Leaving the Office of the CEO of MicroStrategy?

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