During the first three months of this year, COTI crypto rose by 900%, an absolutely huge amount. Before moving any further with our article concerning COTI crypto, it’s important to note that recently, things like decentralized apps (DApps), non-fungible tokens (NFTs), and decentralized finance (DeFi) have become a lot more widely used. So have altcoins which many of you may know as alternatives to the widely popular Bitcoin.
When it comes to COTI, the name is actually an acronym for “currency of the internet”. It is a blockchain protocol that is used for decentralized payment processing. Its function is to allow governments and businesses to issue their own crypto coins. In this article, we will be talking about the COTI protocol along with the COTI crypto, which is its native cryptocurrency or token.
All about COTI
COTI is a fintech platform that works on blockchain technology and it is used for various products, such as decentralized payment processing, loyalty programs, or financing. Thanks to this protocol, companies, and governments are able to build their own cryptocurrency in the form of stablecoins. These, as we know, need to be linked to a physical type of currency, like the dollar.
There are seven key components that make COTI what it is today: simplicity, scalability, security, instantaneity, cost-effectiveness, price stability, and buyer-seller protection. Samuel Falkon is the founder of COTI. He is also chief revenue officer at Paywize, which is a COTI subsidiary. The co-founder of COTI is David Assaraf, who is also the co-founder of an Israelian start-up called Frequants.
Back in 2019, COTI announced that it would collaborate with Simplex to create a COTI Pay debit card and bank account. However, these plans seem to have been delayed quite a lot. However, back in March of this year, Simplex added Apple Pay support so that people could buy COTI crypto using their Apple devices.
Back in April of this month, the Cardano-owned cFund announced that it had invested $500,000 in COTI. This represents the first-ever investment of the company. On the Cardano ecosystem, people can only use the ADA crypto. In fact, back in 2019, COTI released an initial version of ADA Pay. Now, it seems that they are working on a brand-new version that will be officially released within a few weeks.
About COTI crypto
At the time of writing, the price of COTI crypto stands at 0,133589 USD and has a market cap of 89.479,702 USD. When it was launched back in 2019, its price was 0.087 USD and it slowly started to decrease. The following year, in 2020, it started increasing as the general prices of crypto went up as well.
In September 2020, the price stood at 0.093 USD. During this year’s first quarter, the price of COTI crypto skyrocketed to 0.573 USD back in March. For the moment, the price of COTI crypto remains highly volatile but it has never reached the peak of March.
When it comes to price predictions for COTI crypto, certain algorithms say that the price is expected to rise in the coming years. Certain forecasting services claim that the COTI crypto price will rise to 1,247 USD by the end of 2022 and to 2,966 USD by the end of 2025.
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