COTI was founded in 2017, as a decentralised alternative to payment services such as PayPal or Visa. The network’s decentralised nature escaped the limitations of traditional finance, and its move away from a normal blockchain allowed it to become a scalable solution.
Unlike a blockchain, which is a chronological list of transactions, COTI uses a directed acyclic graph (DAG) protocol that resembles a tree with transactions branching out. This allows it to process 100,000 transactions a second – higher than most cryptocurrencies, and even Visa.
Since launching its staking platform in 2019, COTI has revealed many different features and upgrades in its attempt to be the go-to payment service for businesses and merchants. The payment service’s native cryptocurrency (COTI) reached a new all-time high in October 2021.
This article will show you about COTI price prediction. Will COTI go up today? Let's read on.
From the COTI whitepaper
COTI’s whitepaper, The Trust Chain Consensus, was published on 2 October 2018 and is 65 pages long.
It states: “Our vision of COTI is to empower users to freely exchange value as simply as information is exchanged on the internet.
“To achieve this, we are developing the Trustchain protocol based on a directed acyclic graph (DAG) distributed ledger, which creates a scalable blockless protocol that can be utilised by any industry that needs high throughput and trust to operate.”
The document goes on to say: “COTI is uniquely positioned to provide the infrastructure needed for industries requiring immense scalability, in addition to an arbitration mechanism to resolve disputes, fraud (double spending) and errors.”
Price history
COTI launched its mainnet and native cryptocurrency on 4 June 2019. After launching, COTI’s price began to plummet, from $0.088 on 5 June to $0.069 on 26 June 2019. This turned into a bearish trend that plagued COTI’s price for the next eight months.
In August 2019, the COTI network released its Universal Payment Solution, a platform that allows businesses to accept decentralised payments. The low fees, instant payments and multiple currency options made a compelling sell for merchants to use the new service. Despite the new platform, the price of COTI continued to fall and by the end of the month it had dropped to $0.027.
This bearish trend continued throughout the next few months until 9 November 2019, when it reached its all-time low of $0.006. The COTI price picked up slightly in late November as COTI formed a partnership with Cardano to release a payment platform. ADA Pay is a platform for businesses to accept payments in Cardano’s native cryptocurrency, ADA. It has near-instant settlement abilities and can be converted into 35 fiat currencies.
By the end of November, COTI had surpassed the $0.006 mark. However, it really started gaining momentum at the beginning of 2020. The coin began a bullish trend on the 7 February, reaching a peak of $0.03 on 24 February 2020. This was in anticipation of Binance listing COTI on 26 February.
The price rallied into the following month as COTI released a multi-DAG protocol that allowed it to issue branded stablecoins to businesses. This made the network one of the first platforms designed for creating stablecoins. The COTI price spiked slightly higher than last time, peaking at $0.037 on 6 March.
The momentum halted for the next months, but it was not long before COTI rallied again. For the first time since July 2019, the coin was trading above its launch price. This spike came after COTI launched the ERC-20 version of the token on Uniswap. By 30 August 2020, the price closed at $0.089.
COTI’s momentum subsequently faded, and it did not come anywhere close to this price for the rest of 2020.
Price of COTI in 2021 and 2022
The beginning of 2021 told a different story, however. February 2021 saw the start of a bullish trend, and was an active month for the currency as its parent announced multiple partnerships, such as SushiSwap listing an ETH/COTI pair on 26 February.
The network continued to generate headlines into March as it reached new highs. COTI launched the 3.0 edition of its staking feature. Stakers were distributed into five different classes depending on the amount of COTI staked. More than 1,300 individuals took part, with transactions approved on a first-come, first-served basis.
The payment platform had even bigger news that month as it announced Apple Pay users could buy COTI through Simplex, a financial cryptocurrency institution. This was huge news for COTI, as Apple Pay is used by millions, opening its market up to the 45% of Americans who own an iPhone. On 30 March, COTI reached a new price record of $0.50.
COTI saw less action in its price over the next few months, dropping below the $0.20 mark. But it did spike again following its Coinbase listing on 25 August 2021, when COTI reached $0.48.
This rally continued into September with the price setting an even higher record. COTI revealed on 29 September 2021 that it was producing its own bank cards. These crypto-friendly Visa cards allow users to spend money online and in-store. The announcement saw COTI coin reach its then of $0.67. The price surged again a month later on 31 October, when it hit its current all-time high of $0.6826.
COTI launched a mainnet 2.0 upgrade on 2 November 2021 that would contribute to a “better, faster and more reliable digital platform”. It also revealed a treasury is in the works, which is a decentralised pool of COTI where users will be rewarded for depositing the coin.
After a difficult December for crypto in general, some investors are poised for either a massive rush this year, or an equally rapid decline in market activity. Major blows to bitcoin, the long-term effects of the pandemic, and regulation being brought in by lawmakers on a global scale have all had a detrimental effect on the wider crypto markets. Since the coin’s all-time high in October, by 31 December the coin had lost about 44% of its value and was worth around $0.36.
On 18 January 2022, COTI announced a partnership with MeowSwap, a layer-2 decentralised exchange (DEX) built on Cardano. The partnership aims to create a pool of ADA and DJED, as well as a pool of MEOW and DJED. However, the coin continued on a general downtrend into February.
On 1 February 2022, the coin announced that the COTI treasury successfully launched, but this was not enough to help with the recovery efforts in a sustained bear market. By 21 February, the coin was valued at approximately $0.20, its lowest price in over six months.
Later on in the month, COTI introduced Shen to the network as Djed’s reserve coin. As COTI is now the issuer of DJED – Cardano’s official stablecoin – this could be a game-changer for the future of the COTI protocol.
COTI is hoping to harness momentum for the rest of 2022. On 9 March, it released a roadmap outlining its plans for the year, including a new token standard and upgrades to its MultiDAG network.
Recently, it has been celebrating three years since its mainnet went live. This includes rewarding 10 random community members with 300 COTI. The celebration appears to be translating into a breakout. At the time of writing, on 1 June 2022, COTI is priced at $0.12 and is up 6% in a recent seven-day period. But do the price predictions think the token has a future?
COTI price prediction
The consensus among analysts for the COTI coin price prediction is that the coin is in for a bullish trend in the long run.
The WalletInvestor COTI price prediction for 2022 says it is an “awesome” investment. It predicts COTI will reach $0.25 in one year’s time and $0.78 in five years’ time. WalletInvestor’s prediction for 2025 is for the coin to break the $0.50 mark.
Gov.capital predicts that the price will increase towards the end of 2022, coming close to the $0.30 mark in December. Its COTI price prediction for 2025 is more optimistic than WalletInvestor’s, forecasting it to break the $2 mark at the end of the year.
Forecast service PricePrediction.net is far more reserved. Its COTI crypto price prediction says it will reach an average of $0.42 in 2025. However, its COTI price prediction for 2030 is an average of $2.53.
Is COTI a good investment?
It might be. COTI has recently unveiled a new roadmap for 2022, which includes plans for a new token standard and network upgrades.
However, it is important to perform your own thorough research. The market is highly volatile, and past performance is not a reliable indicator for future investments.
Will the COTI price go up?
It might. The general COTI price prediction consensus from price forecasters is for the coin to keep growing over the next decade. WalletInvestor forecasts it to break the $0.50 mark in 2025, whereas Gov.capital suggests the value could surpass $2.
Hope this article can provide you with a better understanding about COTI price prediction.
