One blockchain project which has heavily benefited from increased capabilities and the latest smart contracts has been Coti. This is an enterprise-grade platform for fintech which has been focused on assisting organizations to build their own solutions for payment, all the while digitizing any variant of currency that could help facilitate said decentralized payments.
The entire trope has come up due to the ecosystem of blockchain evolving significantly over the last ten years, with smart contract capabilities moving up the industry from a minute medium of exchange to a complete and bustling ecosystem that is full of NFT and DeFi.
According to data that was received from TradingView and Cointelegraph Markets Pro, it can be understood that ever since bottoming out at the lowest point of $0.0884 on the 20th of July, the price of COTI has increased by 653% to reach a new high of $0.6665 on the 25th of September, as the trading volume over the last 24-hours increased to record $917 million.
COTI launches a stablecoin on Cardano
COTI recently declared that the platform would be the major issuer of the stablecoin called Djed on the network of Cardano. This led to the upward movement in the price of this decentralized network- prevalent in the news. As it is widely known, stablecoins have come up as one of the major components of the ecosystem of cryptocurrency as a whole, and in particular, for DeFi. This is usually because they can provide the network with sufficient liquidity for the market, all the while building up a safe haven during volatile times.
Along with DeFi applications that COTI will provide, Djed can also be utilized in the payment of transaction fees on the network of Cardano- which would be a way to help in the prevention of high gas fees- making transaction costs way more predictable.