Key Takeaways
Coinbase Pro has announced that it will make COTI available for trading on Aug. 26.
The announcement has led to a significant spike in volatility.
As long as COTI can hold above $0.40, it could target a new all-time high of $0.74.
Share this article
Enterprise-grade fintech platform COTI has seen the price of its native token skyrocket shortly after Coinbase Pro announced its listing.
COTI Skyrockets on Coinbase Listing
Like other cryptocurrencies that have been listed on Coinbase Pro, COTI is trending up following an announcement that it would go live on the platform. In a blog post, the San Francisco-based cryptocurrency exchange announced that starting on Aug. 26, users will be able to trade COTI on their respective accounts.
Once the “liquidity conditions are met,” COTI will become available for trading against Bitcoin, the U.S. dollar, the Euro, and the British Pound.
Order books are expected to launch in three phases: post-only, limit-only, and full trading. The blog post says:
“If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading.”
COTI shot up following the announcement. The payment-solutions token has surged by more than 60%, going from a low of $0.30 to a high of $0.49 within an hour. Although COTI took a 20% nosedive after the peak, increased buying pressure could see its price advance further.
Source: TradingView
The Fibonacci retracement indicator (measured from the $0.60 high of Mar. 8 to the $0.089 low of Jul. 20) suggests that the $0.40 level must hold as support for the optimistic outlook to prevail.
Under such unique circumstances, prices would likely take another attempt at the $0.49 resistance level. Slicing through this supply barrier could push COTI to a new all-time high of $0.74.
Although more gains can be expected, it is worth noting that insiders who bought in earlier might dump their holdings on unaware retail investors. It is essential to pay close attention to a decisive breach of the $0.40 support level as it can lead to a downswing to $0.34 or even $0.28.
This news was brought to you by Phemex, our preferred Derivatives Partner.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Cardano Fund Invests in COTI Ahead of Smart Contract Launch
cFund, Cardano’s venture fund, is investing in COTI. Cardano Makes VC Investment The investment will set the path for the two projects to explore “cooperation and collaboration.” COTI builds fintech…
Cardano Foundation and COTI Release AdaPay
Cardano Foundation and COTI released AdaPay, a solution allowing merchants to accept ADA and receive fiat on their bank accounts. Announced in October, the collaboration adds ADA as a payment…
COTI Code Review: Currency Of The Internet DAG
Taking a look at COTI with my code review today. White label payments solution, high throughput claims, custom stable coins, wants to revolutionize the way digital currencies are perceived by…
Efficient Market Hypothesis: Does Crypto Follow?
The Efficient Market Hypothesis (EMH) is a concept in financial economics which states that security prices reflect all the available information about a financial instrument. EMH is one of the…
