Coti (COTI) Price Analysis: 2020 Roadmap Could Facilitate a Comeback
- The current crypto market environment has left many alt-coins, such as COTI, at the mercy of the price movement of Bitcoin (BTC).
- Only projects with a strong future fundamentally, will survive the currently crypto market purge.
- The team at Coti (COTI) updated the project’s 2020 roadmap and this could assist the coin in the longterm.
A brief look at the market dominance of Bitcoin (BTC) on Coinmarketcap provides a picture of dwindling fortunes for alt-coins. For the last 12 months, including the Coronavirus dip of mid-March, Bitcoin’s market share of the total crypto market cap has stood strong above 60%. At the time of writing this, BTC’s dominance currently stands at 64%. This then brings up the question as to what alt-coins will come out alive after the Coronavirus pandemic and the accompanying recession is over. However, for coins such as Coti (COTI) with a stellar team that provides constant updates, the future is still bright despite the bearish environment.
Updated COTI Roadmap
In a recent Medium blog post, the team at COTI updated the community on the following scheduled tasks for the rest of the year.
- Plans to support staking 2.0 and increase staking volume.
- Addition support of other major assets and stablecoins.
- Leverage opportunities with high-risk merchants.
- Improvements to the COTI wallet, and its iOS and Android app.
- Development to allow pBFT consensus on the network.
- Launching of GTS (Global Trust System) for Bitcoin and Ethereum.
Market Analysis of COTI/USDT
As earlier mentioned, only alt-coin projects with strong fundamentals will survive the crypto market purge that is currently happening as a result of the global impact of the Coronavirus. Coti is ahead of the curve in this regard. Further looking at the 6-hour COTI/USDT chart courtesy of Tradingview, we observe the following.
- COTI/USDT current price of $0.0175 is only above the 100 Moving average.
- The 50 and 200 Moving averages are about to cross in a bearish manner.
- MACD is also bearish under the baseline.
- MFI is not particularly strong and shows selling pressure.
- COTI/USDT could be headed down to retest the $0.01611 support zone.
- If the above fails other support zones are $0.011 and $0.007553.
How the Updated Roadmap Can Assist in a Comeback
As earlier mentioned, only alt-coin projects with a strong team and fundamentals will survive the following weeks and months. COTI is one such project and the coin will rise from the ashes once the pending crypto winter is over. The team and community are constantly committed to the project as illustrated in the updated Roadmap. COTI also has a variety of products that are geared towards making the financial services sector more efficient.
Where to Trade COTI
At the time of writing this, COTI is available for trading on the following prominent crypto exchanges:
- Bithumb Global
- Binance DEX
More on Coti (COTI)
Coti is a FinTech platform with cross-chain interoperability. It is built on its own DAG-based blockchain. Its enterprise-grade platform allows organizations to build their own payment solutions. With a high TPS of 100,000, Coti is faster than traditional payment services and popular blockchain networks. The project offers a variety of products such as Coti Pay, a stable payment network, stablecoins, loyalty networks and remittance technology.
(Feature image courtesy of Attentie Attentie on Unsplash.)
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Crypto Gazette or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
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John P. Njui Author
Crypto Enthusiast. Terrible dancer. Former DJ. Amateur Marathoner. Electrical Engineer. Kool kat.