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COTI has Made Major Gains Recently – Can we HODL for the Long Term?

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COTI, known in full as the Currency of the Internet, has been making major headlines over the past few weeks because of strategic partnerships made by the network. COTI recently made a major price rally that allowed the coin to clinch an all-time high of $0.66. This is an iconic performance, given that volatility across the broader market is currently high.

However, despite the short-term gains being made by COTI, investors are still wondering whether this coin is a good investment for the future and whether the gains made will be maintained over the coming months and years.

COTI is the Ideal Solution for Crypto Payments

Cryptocurrencies are evolving, and they are now competing with fiat currencies in being used for payments. While crypto payments are yet to become mainstream because of restrictive regulations in some jurisdictions, we could see this changing in the coming months because of the growing adoption of crypto payments.

The COTI blockchain has positioned itself to facilitate crypto payments, which sheds a positive light on the future prices of the COTI cryptocurrency. In the crypto space, one thing that influences prices rather than the overall market sentiment is the adoption of the underlying blockchain technology. Hence, if there is increased demand for the COTI blockchain to help organizations enable crypto payments, we could see the COTI token gaining value.

COTI Launches Visa Debit Cards and Bank Accounts

To make crypto payments and bridge the gap between crypto and fiat, COTI has announced that it will be launching Visa debit cards and bank accounts for users. The announcement made on September 29 stated that the blockchain payments platform would partner with Simplex to make this initiative a success.

One of the greatest hindrances to crypto payments is that they are not readily available and that there are no platforms in place that make it convenient to use crypto for payments. However, COTI seeks to change this narrative by launching debit cards and bank accounts, which will play a key role in bringing crypto into the mainstream financial ecosystem.

Through this partnership, COTI will create a seamless relationship between fiat currency and crypto. COTI users will be issued with a branded COTI Pay debit card that will allow them to interchange between using fiat and crypto easily.

COTI users will also gain access to a crypto-friendly bank account, where they will create an account in their name and store fiat in their COTI Pay wallet. The users can later spend their account balances on any platform that allows Visa Cards. The card can be used on both online stores and physical stores.

The COTI debit cards will be better than the other crypto cards available in the market, given that Simplex is a principal member of VISA. This makes the card sustainable in that once a user acquires it, they can use it for the long term.

This partnership is among the reasons why the COTI cryptocurrency makes for a good speculative investment for the future because its underlying blockchain is making notable steps in boosting efficiency when it comes to crypto payments. Not forgetting that crypto payments are becoming more popular, and people are looking for a convenient way they can shop at their favourite stores using their crypto holdings.

COTI and Cardano

The other strategic partnership that COTI has made recently is one with Cardano. This was one of the most notable partnerships in the crypto space last month, as it will enable Cardano to build its own stablecoin. The partnership was also beneficial for COTI because it brought the blockchain platform into the spotlight.

Details of this partnership were made public during the Cardano Summit that happened between September 25 and September 26. COTI and Cardano already have a long-running relationship, as the payments platform is Cardano’s payment gateway provider.

What makes this new announcement unique is that it is bringing COTI into the DeFi world. Decentralized finance (DeFi) is among the rapidly growing sectors in the blockchain space. COTI will be the official issuer of the Djed stablecoin. The stablecoin will be value-additional to Cardano, which recently launched smart contracts and became a DeFi network.

The Djed stablecoin will implement smart contracts to bring price stability and offer an instrument that can be used to facilitate DeFi transactions. The stablecoin will be used to pay transaction fees on the Cardano network. This will allow users to avoid the exorbitant and volatile gas fees that usually happen when the adoption of a DeFi network is high.

This partnership is a win for COTI because if it is a success, we could see other networks employing the blockchain to launch stablecoins that will boost the efficiency of building DeFi projects. Most blockchain networks have been looking for ways to become DeFi friendly, and given the high level of competition in this area, most are looking for ways to enhance efficiency in two areas: speed and low costs.

If COTI becomes the ideal payment gateway employed by these DeFi supportive blockchains, the COTI token is expected to see major gains, hence becoming a good investment for the future.

COTI’s Price Performance

As mentioned, the value of a token is influenced by the developments of its underlying blockchain. The strategic partnerships and initiatives taken by COTI recently have enabled the coin to achieve record-high prices. On September 29, COTI reached an all-time high of $0.66. However, volatility across the broader market has pushed this coin to the current price of $0.59.

COTI’s short-term performance shows that the coin has achieved major gains, as its current price is an over 80% price rise. However, it remains to be seen whether this coin will maintain these high prices, given the heightened volatility across the broader crypto market.

COTI’s future performance depends on whether the coin will make more strategic partnerships in the DeFi and payment sectors. The strategic partnerships will drive the values of COTI, and we could see further highs being created. Hence, one needs to look out for potential partnerships in this sector to establish whether COTI is a good future investment. To learn more about this project visit our Investing in COTI guide.

The Blogger Scientist is a "Medical Physiologist" and a "Financial Asset" Content Creator who aims at enlightening web reader on varying Financial Assets such as Stocks, FX, Crypto, MLM,. HYIP among others.

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