THE Coti cryptocurrency has racked up interest from investors in recent months, but it’s currently down by almost 3% over 24 hours.
We explain what you need to know about the cryptocurrency and how its value could change in future.
Before we do, keep in mind that investing in cryptocurrencies is risky and making money is never guaranteed.
In other words, you should never invest more than you can afford or into anything you don’t understand.
Cryptocurrencies are especially volatile, so their values can make large swings with little to no notice.
Newer cryptocurrencies are also even riskier than more established ones, such as Bitcoin, and make you more open to scams.
What is Coti?
Coti is a blockchain platform with tools that let organizations build their own payment solution.
For example, merchants can create branded stablecoins to boost checkout options for customers.
The platform also has its own token with the same name.
The Coti group first launched in 2017, with “Coti” being an acronym for “currency of the internet”.
What’s the Coti price?
The price of Coti is currently sitting at $0.5845, down by almost 3% over the past 24 hours, according to CoinMarketCap.
It comes after it soared to its highest ever level on September 25, when it reached $0.6587.
In comparison, it was worth just $0.04576 on January 1 this year.
Coti’s value has rocketed following news on Sunday that Coti will issue a new stablecoin for the Cardano system, known as Djed.
Zak Killermann, fintech and crypto expert of Finder, told The Sun: “A Cardano backed investment fund, known as cFund, invested $500,000 in Coti earlier this year — so it should come as no surprise that the two teams are now working closely together.
“Djed aims to be more transparent and liquid than existing stablecoins like USDT and USDC, and will have a double function as both a stablecoin and a transaction coin on the Cardano network.
“This coupling between the two networks might incur more direct price correlations between ADA and COTI, so investors in COTI may want to pay more attention to ADA’s price movements and news down the line.”
Coti price predictions for 2021
Whether the Coti price will increase or dive in future is impossible to know for sure.
Yet crypto fans and experts have made predictions, and WalletInvestor has set a one-year forecast of $0.560.
Meanwhile, the site expects it to reach $1.414 in five years’ time.
In comparison, PricePrediction predicts it’ll be until 2023 when the cryptocurrency potentially goes above the $1 mark.
It has also set an average price estimate of $8.93 on January 2030.
And DigitalCoinPrice expects it to hit $0.92 by the end of 2021 and $1.02 in 2022.
As always, take these predictions with a pinch of salt as they’re not guaranteed.
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