During every bullish/bearish phase, at least a handful of cryptos manage to defy the broader market trend. Something similar has been seen of late too. Despite the humdrum state of the market, a few not-so-prominent altcoins have been carrying on with their respective rallies.
COTI has been one such alt, with its price rallying massively over the last 7 days. In fact, on the back of a 100% hike this week, the crypto’s valuation rose from $0.34 to over $0.67.
COTI… What is COTI?
COTI is a fin-tech platform that allows users to build their own payment solutions. It has its foot immersed in almost all fin-tech avenues – Right from financing and payment processing to white label payment systems and cross-border remittance technologies. In effect, it is on the same playing field as Ripple and XRP.
The platform is also optimized for the creation of coins that are stable in price. Thus, users have the ability to issue their own stablecoin and assume full control over both their money and data.
Owing to its recent partnership[1] with Cardano, COTI has been in the news a lot these days. Going forward, the COTI platform would be the official issuer of Djed[2], Cardano’s stablecoin.
COTI further operates a cross-chain bridge. Via a reprocessing procedure, the bridge automatically reprocesses delayed transactions involving ERC-20 and COTI native tokens. The same has immensely helped in improving the fund flows from the native coin to the Ethereum version.
What triggered the surge?
COTI has been trading at around the same price as the ERC-20 version and both were recently listed[3] on a couple of exchanges including Coinbase, Huobi, and Crypto.com. Apart from these CEXes, 1inch and Celsius have also listed COTI on their respective decentralized platforms.
