The price of Cardano-backed altcoin project Coti (COTI) is surging.
Data from Coingecko shows that COTI rose from a 14-day low of $0.289679 to a high of $0.643572, representing a rally of 75.8% over the past two weeks. The coin, which currently holds a market cap of $526,540,060 is worth $0.606045 at time of writing.
COTI is an enterprise-grade platform that allows organizations to build their own payment solutions and digitize any form of currency using the networked datastructure protocol Trustchain.
The rally comes a month after Coinbase launched support for the coin. In August, the exchange announced that its customers could start trading the crypto asset on its platforms.
In April, the Cardano Foundation said that it partnered with COTI, which will serve as the payment gateway provider for ADA Pay that will enable merchants and organizations to accept and manage payments in ADA.
Input Output Hong Kong (IOHK), the blockchain company behind Cardano, also invested $500,000 in COTI through the early-stage cFund.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tangor