The blockchain ecosystem has evolved significantly over the past decade as smart contract capabilities have moved the industry from being a simple medium of exchange to a bustling ecosystem full of decentralized finance (DeFi) 和不可替代的代币 (NFT).

One project that has benefited from the increased capabilities of blockchain technology and the recent launch of smart contracts on Cardano is COTI (COTI), an enterprise-grade fintech platform focused on helping organizations create their own payment solutions and digitize any form of currency as a way to facilitate decentralized payments.

Data from Cointelegraph Markets Pro and TradingView shows that since bottoming out at a low of $0.0884 在七月 20, the price of COTI has rallied 652% 达到历史新高 $0.6665 九月. 25 as its 24-hour trading volume surged to a record $917 百万.

COTI/USDT 4-hour chart. 资源: 交易视图

Three reasons for the steady rally in COTI include its launch of the Djed stablecoin on the Cardano network, a series of exchange listings and the launch of COTI’s NFT game which appears to be bringing new users to its ecosystem.

COTI launches a stablecoin on Cardano

COTI recently announced that its platform would be the official issuer of the Djed stablecoin on the Cardano network and the price continued its upward move on that news.

Stablecoins have emerged as one of the key components of the cryptocurrency ecosystem as a whole and for decentralized finance, 特别是, because they provide sufficient liquidity for the market and create a safe haven during times of volatility.

Aside from its DeFi applications, the Djed can also be used to pay transaction fees on the Cardano network as a way to help prevent high gas fees and make the cost of conducting transactions more predictable.

New exchange listings boost trading volume

A second factor behind COTI’s price growth is the token’s listing on several large exchanges, 包括Coinbase, the most active U.S.-based cryptocurrency exchange.

This announcement kicked off a series of exchange listings for COTI, including being added to Huobi, Crypto.com, the decentralized exchange 1inch and Celsius, which is an all-in-one banking and financial services platform.

To go along with these exchange listings, the team at COTI also revealed that it has started the process of inviting beta testers to apply for the COTI bank account and debit card for final testing before the full launch of the protocol’s banking solution.

有关: Coinbase users can choose to deposit paychecks directly to accounts

NFT opportunities encourage invest hodling

A third factor helping to boost the value and activity within the COTI ecosystem is the project’s ongoing NFT activities, including the COTI NFT Game and the network’s future plan to help support NFTs on Cardano.

NFTs have been one of the hottest sectors in the cryptocurrency ecosystem throughout 2021 and protocols that offer a lower fee environment have seen increased activity in recent months.

沃特克斯™ data from Cointelegraph Markets Pro began to detect a bullish outlook for COTI on Sept. 21, 在最近的价格上涨之前.

VORTECS™ 分数, Cointelegraph专用, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, 交易量, 最近的价格走势和Twitter活动.

沃特克斯™ 分数 (绿色) 与. COTI price. 资源: Cointelegraph Markets专业版

如上图所示, VORTECS™ Score for COTI climbed into the green zone on Sept. 21 并达到了很高的水平 77 around ten hours before the price increased 135% over the next five days.

这里表达的观点和观点仅是作者的观点,不一定反映Cointelegraph.com的观点。. 每笔投资和交易动作都涉及风险, 您在做出决定时应该进行自己的研究.