Crypto

ASM Crypto Price: A Rising Star in the DeFi Space?

Cryptocurrencies are digital assets that use cryptography to secure transactions and control the creation of new units. They are decentralized, meaning they are not controlled by any central authority, and they operate on a peer-to-peer network of computers. Cryptocurrencies have gained popularity in recent years due to their potential to offer fast, low-cost, and anonymous transactions, as well as their resistance to censorship and inflation.

However, not all cryptocurrencies are created equal. Some are more reliable, secure, and valuable than others, while some are niche, innovative, and promising. One of the latest cryptocurrencies that has been attracting attention in the market is ASM, also known as Assemble Protocol. But what is ASM and why is it in focus?

What is ASM?

ASM is an Ethereum token that powers Assemble Protocol, a platform where users and merchants can aggregate, manage, and spend reward points. On Assemble Protocol, point providers and retailers can run special events or promotions, providing benefits like discounts for ASM holders.

According to its website, Assemble Protocol is a blockchain-based global point integration platform. It is claimed that the basic idea behind the Assemble Protocol is to provide its users an unrestricted opportunity to use their points, similarly as they use cash, anywhere in the world without any time or place constraints. And to enable point providers and Assemble partners a pool of opportunities to further expand their businesses and an access to a rich pool of users.

Assemble Protocol claims to solve the problems of the existing point market, such as:

  • Fragmentation: Users have to deal with different types of points from different sources, which are not compatible or exchangeable with each other.
  • Inefficiency: Users have to pay high fees or face expiration dates when using or converting their points.
  • Limitation: Users have limited options to use their points, as they can only redeem them at specific stores or platforms.

Assemble Protocol aims to create an ecosystem that benefits all stakeholders of the loyalty points industry using a three-pronged approach:

  • Point providers (enterprises): They can issue their own points on the Assemble platform and use them as a marketing tool to attract and retain customers. They can also access a wider network of users and retailers through the platform.
  • Point consumers (customers serviced by enterprises): They can aggregate their points from various sources on the Assemble platform and use them as cash on the Assemble Marketplace or convert them into ASM tokens. They can also enjoy more flexibility and convenience when using their points.
  • Retailers (individuals and enterprises to use for their sales channels and advertising tools): They can join the Assemble platform as sellers and accept points or ASM tokens as payment for their goods and services. They can also leverage the platform’s data and analytics to optimize their sales and marketing strategies.

Why is ASM in Focus?

ASM has been in focus recently due to several factors, such as:

  • Price performance: ASM has been showing a strong uptrend in the past few days, reaching a new all-time high of $0.04 on August 8, 2021. This represents a staggering increase of over 75% in just 24 hours. The token’s 24-hour trading volume also surged to over $28 million, indicating a high level of interest and activity in the market.
  • Market potential: ASM taps into the huge market of loyalty points, which is estimated to be worth over $360 billion globally. By offering a blockchain-based solution that enables users and merchants to utilize their points more efficiently and effectively, ASM has the potential to disrupt and transform the industry.
  • DeFi integration: ASM is also part of the decentralized finance (DeFi) movement, which aims to provide alternative financial services that are open, transparent, and accessible to anyone. ASM allows users to participate in various DeFi activities, such as lending, borrowing, staking, farming, swapping, etc., using their points or ASM tokens. This creates more value and utility for the token and the platform.

Conclusion

ASM is a cryptocurrency that powers Assemble Protocol, a platform where users and merchants can aggregate, manage, and spend reward points. ASM has been in focus recently due to its impressive price performance, its huge market potential, and its DeFi integration. ASM is one of the rising stars in the crypto space that deserves attention from investors and enthusiasts alike.

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