Altcoin Project Backed by Cardano Rallies 92% in Just Two Weeks, Leaving Crypto Market in the Dust

By Daily Hodl Staff

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.

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Featured Image: Shutterstock/Tangor