As well-known payment processors such as Visa and Mastercard are increasingly integrating blockchain technology into their payment channels, decentralized platforms that offer the best solutions to problems such as scalability and fast transaction times are becoming increasingly important.
COTI is one such platform that has gained momentum in the past few weeks after a series of network upgrades and big announcements paid special attention to the corporate fintech platform.
According to the COTI website, the protocol is focused on enabling businesses to create their own payment solutions and digitize any form of currency to save time and money.
COTI / USDT 4 hour chart. Source: TradingView
Data from Cointelegraph Markets and TradingView show that the price of COTI rose 345% over the past month, rising from a low of $ 0.63 on February 4th to a new all-time high of $ 0.283 on March 5th as the Investor excitement following the March 1st release of COTI Staking 3.0.
Fiat ramps and protocol upgrades help increase community participation
Aside from the release of Staking 3.0, COTI received an extra dose of buzz on March 3 when it was revealed that Apple Pay users can now purchase COTI through a partnership with Simplex.
Scrolling through the project’s Twitter feed indicates an active February for the COTI ecosystem. The list of multiple partnerships and integrations shows that interoperability is one of the ultimate goals of the protocol.
SushiSwap also announced the launch of an ETH-COTI pair on Feb.26 to expand user access and token liquidity. The January release of the Crypto Volatility Index continues to attract new attention after a recent code tweak that helped reduce the cost of using the index by 50%.
In February, COTI also had a record high in transaction volume from merchants, when the number rose to 18.16 million. The team is now keen to increase the number of stakers on the network and to update the current nodes.
The growing importance of Bitcoin (BTC) and blockchain technology has the potential to draw attention to the COTI platform as small businesses and large organizations try to integrate blockchain payment rails and create internal currencies.
With recent deployment upgrades and Fiat ramps, the project is well positioned to continue trending upward as the current bull cycle continues to unfold.
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