COTI Crypto: Bullish Trend Coming?
COTI crypto (“currency of the Internet”), a Layer-1 platform that operates on the Proof-of-Trust (PoT) consensus, has recently turned bullish and left everybody asking – for how long?
As the first enterprise-grade blockchain platform for payments, COTI integrates a so-called directed acyclic graph (DAG) data structure with the demands linked with traditional finance, such as fees, latency, and so on. A DAG is a data structure that enables more efficient and scalable transactions.
Here, each transaction is confirmed by two previous transactions. It makes a more efficient, transparent, and, therefore, safer network of trust than a traditional blockchain.
Why is COTI trending?
According to CoinMarketCap, COTI crypto is currently trading at $0.19 with a volume of $22,185,025 over a day. However, not long ago, COTI recorded a price of $0.33 and analytics claimed this was only the beginning. During the last month, COTI crypto has witnessed both plunges and jumps, demonstrating the token's volatility. There are good reasons to watch this cryptocurrency.
The first one includes expecting the forthcoming MultiDAG 2.0-layer launch. This will enable the COTI protocol to develop the new tokens on top of its Trustchain. This will also ensure that the COTI mainnet creates a governance token for COTI’s treasury. This new token will act as one more enterprise-driven token built on its Trustchain.
Another reason for its rally is its announced partnership with Cardano’s first NFT Gaming platform dubbed Revelar.
This cooperation includes Revelar implementing COTI stablecoin Djed to ensure a more secure and balanced way to buy and sell NFT game assets on the Revelar platform. Moreover, the Djed stablecoin will ensure the COTI’s presence in new tokenomic models.
Revalar’s integration with Djed is only a part of a bigger plan to create new NFT payment options, such as fiat-backed payment integrations to Cardano.
Shahaf Bar-Geffen, CEO of COTI, said that “by integrating Djed to their platform, Revlar is giving their developers and gamers more stable payment options".
COTI price performance
COTI crypto's uniqueness lies in the fact that it consistently pays for all the features and makes sure both buyers and sellers are protected within a stable framework. This allows COTI to save time and increase processing speed.
According to CoinMarketCap, COTI crypto rose by 1.77% at the time of writing, with a live market cap of US$199,294,662 and 1,05B COTI coins in circulation.
As we already mentioned, COTI operates a cross-chain bridge and, through reproducing, the bridge constantly processes delayed transactions involving ERC-20 and COTI native tokens.
COTI crypto has been trading almost at a similar price as the ERC-20 version. Both tokens were listed on some of the biggest exchanges, such as Crypto.com, Celsius, Huobi, 1inch, and Coinbase. This also triggered the price surge.
Analysts say that the community built around COTI and Cardano also boosted trading volumes, seeing an almost twentyfold rise since last June.
With these metrics in mind, the conclusion stands that the COTI crypto race won’t be coming to its end anytime soon.
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Author: Teuta Franjkovic
A sincere writer with a strong will to share knowledge on all things blockchain, crypto, metaverse and DeFi. Starting out as a writer with Cosmopolitan, Teuta has risen through the ranks of business journalism, editing newspapers and websites within the fintech industry for over 15 years. She holds a double MA in Public Politics and Entrepreneurship.