COTI has announced that it is finally prepared to launch its mainnet 2.0 after more than a year of development.
Digital fintech platform COTI (Currency of the Internet) has announced that it will be launching its long-anticipated mainnet 2.0 next month.
COTI Mainnet 2.0 Set to go Live
The company shared the news about its upcoming mainnet version 2.0 launch with CryptoPotato, stating that the upgrade will feature scalability and speed capabilities, as well as an optimum COTI platform.
“The release of Mainnet 2.0 will allow COTI’s network to grow further, supporting a wide range of financial technologies and use cases for enterprise and merchants, as well as for COTI users,” the project said.
According to the announcement, the new version of the network has been in the works for over a year, with lots of resources, including thousands of man-hours dedicated to ensuring the upgrade is successful.
Notably, COTI’s dedication targeted towards the development of its mainnet 2.0 has paid off, as the upgrade will go live on November 2, 2021, at 2 PM UTC, the company noted.
Upon launch, users will be able to enjoy the new service, which is poised to offer an enhanced and reliable digital platform, without having the need for any prior tech knowledge.
Boosting Transaction Speed
Although COTI’s Trustchain infrastructure, which is integrated into the current mainnet, is capable of processing over 100,000 transactions per second (TPS), the project has made significant changes to its database to achieve faster transaction processing in version 2.0.
Some of the updates made to the database to improve transaction confirmation speed were carried out on the network’s storage engine RocksDB and the Queue management system, among others.
The upcoming upgrade will also provide fixes to some of the bugs found in the current version.
In preparation for the release, COTI noted that it successfully conducted a pilot program by moving its node operators to the new version’s testnet in order to ensure a smooth transition when it will officially migrate to mainnet 2.0.
COTI Provides Payment Services for Clients
The development comes less than a month after COTI partnered with Simplex to provide bank accounts and visa debit cards to its customers.
Per the announcement, the service will easily grant users access to the global monetary ecosystem and also bridge the gap between fiat and cryptocurrencies.
COTI Price Analysis: The Dynamic Support Of 50 EMA Has Turned To Resistance Now; Is This A Start Of A Downtrend??
The COTI coin price indicated another bearish reversal when the price was rejected from the $0.67 resistance. However, this time retracement phase deepened more than expected and even breached the crucial support of $0.047. However, a positive news we have is ‘Coinbase’, one of the most trusted custodians now supporting COTI.
Key technical points:
- The 200 EMA line stands as a crucial support level for the COTI coin price
- The intraday trading volume in the COTI coin is $173.8 Million, indicating a 16.34% hike.
Source- COTI/USD chart by Tradingview
The COTI coin price initiated this remarkable rally in august, which made a New-Time High of $0.675. After this, the coin went through a usual correction and recovery phase to continue its uptrend; however, the price couldn’t pass the higher high resistance and indicated another bearish reversal.
On November 16th, the coin price breached the support of the previous lower high of $0.47 mark, suggesting even more fall for COTI. This deeper correction phase managed to obtain proper support from the 200 EMA line and is currently retracing back to retest the same level.
While travelling in an uptrend, the COTI coin price received dynamic support from the daily 50 EMA line. However, with this bearish reversal. the coin broke down from this support EMA, and now it’s contributing as a resistance for the retest mentioned above.
The Relative Strength Index(47) states a bearish sentiment within this coin.
COTI/USD 4-hour Time Frame Chart
Source- COTI/USD chart by Tradingview
Contracting to the bearish signals noted above, the COTI coin price action projects a bullish outlook in this lower time frame. The coin price resonated in a falling parallel channel for the recent price fall. On November 29th, the price gave a bullish breakout from this pattern, suggesting a new rally.
However, the price is still experiencing strong rejection from the $0.47, and its the critical point of our price analysis. If the price sustains below this resistance, the crypto traders can grab an excellent short opportunity in this coin; moreover, an extra confirmation will be obtained once the price breaks down from the daily 200 EMA.
Chainlink (LINK) Keepers Now Integrated by Coti Network’s (COTI) CVI Design: Details
Coti Network DeFi ecosystem advances its CVI rebalancing mechanism with Chainlink’s instruments
With its new release, Crypto Volatility Index tokens (CVI) by Coti Network (COTI) will be rebased through cutting-edge on-chain instruments.
Chainlink Keepers now empower CVI mechanism
According to the press release shared with U.Today, Coti Network (COTI) announced a crucial upgrade of its crypto volatility index token architecture.
We are thrilled to announce the launch of the CVI V2 which includes: Volatility Tokens and composability, Margin Trading and improved capital efficiency, USDC Platform and Revamped Design.https://t.co/N2hYlGLpsbhttps://t.co/t39RuOs2FC$GOVI $COTI pic.twitter.com/TQ2BE1kLq6— Crypto Volatility Index (CVI) (@official_CVI) July 29, 2021
Starting from October 2021, the underlying supply of volatility tokens will be rebalanced with Chainlink Keepers, an automated decentralized network by the team behind Chainlink Oracles.
With this novelty, every day at midnight (UTC) the supply of volatility tokens will be rebased in order to ensure a robust and accurate pegging to the current volatility of cryptocurrencies markets.
Shahaf Bar-Geffen, CEO of COTI, stresses that the current stage of Chainlink/Coti integration is a crucial one for the technological progress of his product:
Integrating Chainlink Keepers was a natural next step after using Chainlink Price Feeds to access high-quality options data used in the CVI volatility index calculation. Chainlink Keepers are reliable, decentralized, and seamless to integrate, ultimately offloading manual labor from our developers while still providing strong assurances that our volatility tokens stay pegged to the underlying CVI index.
More options to benefit from crypto volatility
Coti Network (COTI) pioneered the segment of decentralized volatility indexes that act similarly to VIX on stock markets. Traders can benefit from volatility moves in both directions.
Right now, besides ETHVOL tokens being pegged to the volatility dynamics of the first-ever smart contracts platform, Ethereum (ETH), Coti Network is going to introduce CVIVOL assets on Polygon (MATIC).
As covered by U.Today previously, Coti Network hired VIX creator Prof. Dan Galai to contribute to the release of its most eccentric product, CVI.
COTI Price Prediction – Will COTI Price Hit $1.5 in 2021?
- Bullish COTI price prediction ranges from $0.59 to $0.95.
- The COTI price might also reach $1.5 soon.
- COTI bearish market price prediction for 2021 is $0.40.
This COTI (COTI) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our COTI price analysis and prediction.
The crypto industry was able to end the year 2021 gracefully despite the economic crisis brought by the CoronaVirus. As a result, investors from in and out of the crypto world are now closely monitoring various cryptocurrencies with potential. One of these tokens is the COTI (COTI).
Now that we’ve got some ideas about COTI, do you think COTI will be a profitable cryptocurrency this year? Let us find out together in this CoinQuora COTI (COTI) price analysis and price prediction 2021. But before we go there, let us understand first, “what is COTI (COTI)?”
What Is COTI?
COTI describes itself as the first enterprise fintech platform that enables companies to build their own payment and currency solutions, thus reducing time and cost. Cryptocurrency issuers, governments, digital payments DAPPs, and merchants can all use COTI, one of the world’s first blockchain protocols, to make payments decentralized.
The first application of COTI is COTI Pay. The firm describes itself as an all-encompassing blockchain-based finance solution. During the year 2017, the COTI Group launched, while the Staking Platform launched on January 1, 2020.
The ecosystem is built specifically to overcome all the challenges associated with traditional finance, such as latency, fees, global inclusion, and risks. This is done through the introduction of the DAG-based protocol as well as infrastructure that is completely scalable, private, and fast.
A DAG-based blockchain is part of this ecosystem as well as a proof-of-trust algorithm, multiDAG, GTS (Global Trust System), an integrated payment solution, and a gateway to make the payment process more secure.
Now that we are fully aware of “what is COTI (COTI)?”, what are we waiting for? Let us now head to our COTI price analysis and prediction for 2021.
COTI Current Market Status
As of the time of writing this COTI price analysis, COTI trades at $0.54 with a 24-hour trading volume of $156,963,605. The price of COTI has decreased by 7.56% in the last 24 hours.
Furthermore, COTI has a current circulating supply of 868,672,118.03 COTI. Currently, the top cryptocurrency exchanges for COTI are Binance, Huobi Global, KuCoin, ZT, and Mandala Exchange.
Now, let’s proceed to the next part of this COTI technical analysis for 2021.
COTI Price Analysis 2021
Currently, COTI holds the 133rd place on CoinMarketCap. But will the latest upgrades, developments, and changes in the COTI blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this COTI price prediction article.
In the daily time frame chart shown above, we can see the Symmetrical Triangle Pattern. This pattern shows the period of consolidation that may lead to a price breakdown or breakout. In the foreseeable future, we can say that COTI has a higher chance of going bullish than bearish.
As shown above, at the beginning of this month, COTI turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.
The Relative Strength Index (RSI) is close to 37.7, which means that COTI is in an oversold state. Hence, this may lead to a price reversal at any given time.
Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of COTI.
Since the start of 2021, COTI ’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, COTI has a competitive market this 2021.
COTI Price Prediction 2021
The chart below shows that COTI has performed great over the past few days. Moreover, the COTI price rose 90% in the last 2 weeks. If this trend continues, COTI might run along with the bulls, overtaking its $0.95 resistance level and rise higher.
Conversely, if the investors turn against the crypto, the bears might take over and dethrone COTI from its uptrend position. In simpler terms, the price of COTI might drop to almost $0.48, a bearish signal.
Meanwhile, our long-term COTI price prediction for 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.67 this year. Moreover, that will only happen if it breaks many previous psychological resistances.
COTI Price Prediction 2022
If this bullish trend continues, COTI will reach $3 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $3.5. Then this rise will slow down, but no major falls are expected. With upcoming partnerships, and developments reaching $3 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
COTI Price Prediction 2023
The price of COTI can move even great heights, however reaching $15. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency Cardano breaks past the psychological resistance level.
COTI Price Prediction 2024
As per the latest upgrades, developments, COTI price prediction, and new project forecasts of the platform. Moreover, this might boost the price of COTI in the crypto market, and it will be the best investment as the price can spike and reach around $40.
COTI Price Prediction 2025
In the next four years, COTI prices could rise up to $55. However, reaching this level could not be so difficult for COTI as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that COTI has a high possibility of reaching a new ATH soon in the next five years as per the prediction.
COTI has a bright future ahead of it in 2021. With the ongoing developments happening within the COTI ecosystem, as well as in the overall crypto market, we may see COTI reach new heights.
Bullish COTI price prediction 2021 is $0.95. More so, it may even reach $1.5 if investors have decided that COTI is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
What is COTI?
COTI describes itself as the first enterprise fintech platform that enables companies to build their own payment and currency solutions, thus reducing time and cost.How to buy COTI tokens?
Users can obtain COTI tokens by purchasing them from cryptocurrency exchanges such as Binance, or Huobi Global.COTI is a good investment in 2021?
COTI is a good investment in 2021. Moreover, COTI has a high possibility of surpassing its current ATH at about $0.67 this year.Can COTI reach $1.5 soon?
Yes, it’s very much possible that COTI might reach $1.5 in the near future as per the current bullish trend.What will be the COTI price by 2022?
COTI (COTI) price is expected to reach $3 by 2022.What will be the COTI price by 2023?
COTI (COTI) price is expected to reach $15 by 2023.What will be the COTI price by 2024?
COTI (COTI) price is expected to reach $40 by 2024.What will be the COTI price by 2025?
COTI (COTI) price is expected to reach $55 by 2025.