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Coti Price Prediction 2024: COTI Price Analysis

Last Updated
Valdrin Tahiri
Last Updated
By Valdrin Tahiri
Edited by Peter Henn

Key Takeaways

  • COTI launched in 2018 and reached its all-time high in 2021.
  • Its price ended 2023 on a bullish note but it has fallen so far in 2024.
  • Our price predictions suggest COTI will undergo significant appreciation during this bull run.

After months of development, Coti (COTI) announced the launch of COTI V2 and, on May 21, 2024, it also said COTI V2 Developer Network was live.

The platform said : “COTI V2 is solving scalable privacy on Ethereum and today we invite developers to start building on our Developer Network This includes a $50M Builders Program, with grants ranging from $1K to $100K.” 

The news could help the platform, which suffered in 2023 after the United States Securities and Exchange Commission (SEC) accused it of being an unregistered security.

COTI was worth $0.108 as of July 25, 2024.

Let’s now take a look at our own price predictions for COTI, made on July 25, 2024. We will also examine the COTI price history, and talk a little about what COTI is and what it does

COTI Price Predictions

Here are the COTI price predictions from CCN on July 25, 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, are often wrong.

Minimum COTI Price Predictions Average COTI Price Predictions Maximum COTI Price Predictions
2024 $0.68 $1.14 $1.60
2025 $0.25 $0.55 $0.85
2030 $0.51 $0.63 $0.75

There are two methods used to create our COTI price predictions. Predictions are created using fractals (mirroring movements and indicator readings) and the wave count.

The mean of the two predictions gives the average COTI crypto price prediction, the more bullish one is used for the maximum price prediction while the more bearish one is for the minimum.

Fractal Method

In September 2019, COTI’s weekly RSI generated a bullish divergence for the first time in history. Several months later, the COTI price broke out from a descending resistance trend line while the RSI increased above 50. This marked the beginning of an upward movement that eventually led to the all-time high price of $0.79 in October 2021.

The movement measured from the divergence up to the divergence until the first high lasted for 266 days and had a magnitude of 1,250%. Then, the movement until the all-time high lasted for 686 days with a magnitude of 9,250%.

COTI Price Increase
COTI/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

In 2023, the weekly RSI generated a bullish divergence once more. Shortly afterward, the price broke out from a descending resistance trend line and the RSI increased above 50. The ensuing increase was 640% and lasted for 175 days.

So, it was 0.5 times as strong as the previous one and lasted for 0.65 the time. We can use these ratios to reach a high for the current COTI bullish market cycle.

Doing so suggests that COTI will reach its high of $1.60 in December 2024. Projecting a similar correction gives our target of $0.25 for the end of 2025

Wave Count

The most likely wave count indicates that COTI started a five-wave increase in October 2023. If so, it has currently completed waves one and two in this upward movement.

The 2.61 extension of wave one gives the target for the top of wave three, while the 4.61 extension that for wave five. The Fib Time Zone tool predicts this target will be reached in November 2025.

COTI Wave Count
COTI/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

Projecting a similarly shaped increase and correction to the current movement leads to COTI price predictions of $0.68 and $0.85 for the end of 2024 and 2025, respectively.

Finally, we use the daily rate of increase for the past four years to arrive at a COTI price prediction for the end of 2030. In the 1,463 days since July 2020, the COTI price has increased by 350%, for a daily rate of increase of 0.24%.

Projecting this increase until the end of 2030 leads to a COTI price prediction of $0.63. We then add and remove 20% to this target to arrive at our minimum and maximum COTI price predictions.

COTI Price Predictions for 2024

Our wave count and fractal methods give vastly different COTI price predictions for the end of 2024. The reason for this is that the fractal method predicts a much sharper rate of increase, leading to its target of $1.60, while the wave count gives a target of $0.68.

COTI Price Predictions for 2025

Similarly to the 2024 predictions, the 2025 ones are also different. In this case, the roles are reversed, meaning the fractal prediction is lower.

As outlined before, the fractal prediction suggests the high will be reached in 2024. So, the price will be mired in a long-term correction by the end of 2025. The fractal method gives a target of $0.25 while the wave count one of $0.85.

COTI Price Predictions for 2030

Using the daily rate of increase for the past four years gives a COTI price prediction range between $0.51 and $0.75 for the end of 2030.

COTI Price Analysis

The daily time frame COTI price chart shows a decline under a descending resistance trend line since the yearly high of $0.278 on February 26. The decline culminated with a low of $0.066 on July 5, before the price bounced and started the current upward movement.

On July 24, COTI reached the resistance trend line (red icon) but suffered its fourth rejection (black icons).

COTI Price Analysis
COTI/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView

Despite the rejection, the daily RSI is above 50 and the daily MACD is above 0. Both are considered signs of a bullish trend. Furthermore, COTI has reclaimed the closest horizontal support at $0.096.

So, an eventual breakout from the trend line that takes the price to $0.145 is the most likely future COTI price prediction.

Short-Term COTI Price Prediction

The COTI price prediction for the next 24 hours lies on the assumption that the price will break out from its descending resistance trend line, though an initial rejection can occur in the short term. If that is the case, the COTI price tomorrow could be slightly lower, possibly approaching $0.10.

Then, an eventual breakout from the resistance trend line can happen next week, taking COTI to the $0.145 resistance trend line at the beginning of August.

Short-Term COTI Price Prediction
COTI/USDT Six-Hour Chart | Credit: Valdrin Tahiri/TradingView

COTI Average True Range (ATR): COTI Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.

COTI ATR
Weekly ATR | Credit: TradingView

On July 25, 2024, the weekly ATR for COTI was 0.03, a sign of average volatility. The ATR has fallen since April 2024 but started an upward movement at the beginning of the year. As a proportion of the $0.108 COTI price, the ATR is 0.36.

COTI Relative Strength Index (RSI): Is COTI Oversold or Undersold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.

COTI RSI
COTI Weekly RSI | Credit: TradingView

On July 25, 2024, COTI’s weekly RSI was at 50, indicative of a neutral trend. Whether the RSI breaks out or down can determine the future trend’s direction.

COTI Market Cap to TVL Ratio

The Market Cap to Total Value Locked (TVL) ratio  measures the valuation of a decentralized finance (DeFi) project by comparing its market capitalization to the total value of assets locked in its smart contracts. This ratio shows the project’s utilization and links the platform’s health to the value of locked assets.

COTI TVL Ratio
COTI Market Cap to TVL | Credit: DeFi Llama

A ratio above 1.0 indicates overvaluation because the market cap exceeds the value of assets used in the platform. A ratio below 1.0 indicates undervaluation because the market cap is lower than the value of locked assets.

On July 25, 2024, the COTI TVL ratio was 3.8, indicating overvaluation.

Best Days and Months to Buy COTI

We took a look at the COTI price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy COTI.

Time to Buy COTI Days, Weeks, Months and Quarters
Best Day Monday
Best Week 8
Best Month February
Best Quarter First

COTI Price Performance Comparison

COTI is a blockchain that deals with smart contracts and has interoperability with Ethereum, so let’s compare its performance with other similar projects.

Current Price One Year Ago Price Change
Cardano $0.394 $0.306 +30.2%
Polkadot $5.71 $5.24 +10%
Fantom $0.44 $0.24 83.4%
COTI $0.108 $0.048 +124.7%

How Do We Make a COTI Price Prediction?

Our price prediction for COTI combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave principle, which describes these price movements in their motive and correction phases.

Applied to the COTI-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between.

COTI Price History

Let’s now take a look at the COTI price history. While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us some very useful context when it comes to either making or interpreting a COTI/USD price prediction.

2019-2020: COTI first came out in mid-2019, worth below $0.10. It went on a long dip, falling to an all-time low of $0.006226 on November 9, 2019. There was a small recovery throughout 2020.

2021: A bullish market sent the price soaring, hitting $0.50 in March. After a sluggish summer, the launch of COTI’s debit cards in October boosted the price to an all-time high of $0.6826 on October 31. It closed the year under $0.40.

2022: Market crashes saw the price drop, closing the year at a little over $0.05.

2023: Initially promising, COTI broke past $0.10 in late January. But, it declined over the following months, reaching $0.0526 on June 9. It increased in the second half of the year, closing at $0.0719.

2024: COTI continued to rise in early 2024, reaching $0.1352 on June 3. However, it fell afterward and currently trades at $0.108.

COTI Price History
COTI Price History | Credit: CoinGecko
Period COTI Price
Last Week (July 18, 2024) $0.102
Last Month (June 25, 2024) $0.095
Three Months Ago (April 25, 2024) $0.120
One Year Ago (July 25, 2023) $0.048
Five Years Ago (July 25, 2019) $0.057
Launch price (June 5, 2019) $0.096
All-time high (September 30, 2021) $0.648
All-time low (December 15, 2019) $0.007

COTI Market Cap

The market capitalization, or market cap, is the sum of the total number of COTI in circulation multiplied by its price. On July 25, 2024, COTI’s market cap was $419 billion, making it the 273rd largest crypto by that metric.

COTI Market Cap
COTI Market Cap | Credit: CoinGecko

Who Owns the Most COTI?

On July 25, 2024, one wallet held 12.89% of the COTI supply.

Richest COTI Wallet Addresses

On July 25, 2024, the five addresses with the most COTI  were

  • 0x1ba5c20964e60fdad441256488810928b83ba581, which held 300,000,000 COTI or 12.89% of the supply
  • 0xbe0eb53f46cd790cd13851d5eff43d12404d33e8, which held 270,000,000 COTI or 11.73% of the supply.
  • 0xf977814e90da44bfa03b6295a0616a897441acec, which held 123,916,502 COTI or 5.38% of the supply.
  • 0xae33c85267a79ab74f64a56366c246a4463970c0. This wallet held 100,000,000 COTI or 4.35% of the supply
  • 0x5a52e96bacdabb82fd05763e25335261b270efcb, which has 70,000,000 COTI or 3.04% of the supply.

COTI Supply and Distribution

Supply and distribution Figures
Max supply 2,000,000,000
Circulating Supply as of July 25, 2024 1,572,639,906 (79% of the maximum supply)
Holder distribution as of July 25, 2024 Top 10 wallets hold 47% of the maximum supply

From the COTI Whitepaper

In its technical documentation or whitepaper, Coti says : “COTI has built mechanisms to monitor, detect and defend against possible attacks, ensuring network security. An example of such a mechanism is COTI’s Double Spend Prevention (DSP) Nodes. COTI also introduces novel protocols to address disputes that may arise when sending transactions. This is a much-required feature that is not possible with other cryptocurrencies. Dispute resolution is achieved by the use of an Arbitration Service.

“This service takes advantage of the principles of game theory to ensure a fair outcome in the case of a dispute and votes to determine which of the two disputing parties is right.”

Shahaf Bar-Geffen is the founder and CEO of COTI Network, which is a blockchain-based payments network.

COTI Explained

COTI – which stands for Currency Of The Internet – is a system designed to make it easier for people to send and receive money online. Founded in 2016 by online entrepreneur Samuel Falkon, it is designed to be fast, easy, and reliable. It claims to be able to process up to 10,000 transactions per second. The system also allows people to create their stablecoins, cryptos pegged to a particular value.  

The COTI coin rewards people who validate transactions on the network. People can also buy, sell, or trade COTI on exchanges.

How COTI works

The thing that makes COTI a little different from other cryptos is that, if we are being super-technical, it does not rely on a blockchain or distributed ledger. Instead, it uses something called a directed acyclic graph (DAG) protocol which moves in a particular direction, with every transaction linked to many other transactions.

To put it in simple terms, a visual diagram of a blockchain would like a chain of blocks. The DAG looks more like a tree with things branching out from each other. 

It uses a process called Proof-of-Trust, which means that every transaction added to the chain needs to endorse two previous transactions in the region of its trust score, a figure representing factors such as how often the user uses the network and how many successful transactions the user has already made. The idea is that this system helps the platform to operate quickly. SO, it makes it easier to use and saves people money. 

Is COTI a Good Investment?

A lot depends on how the SEC’s cases against Binance and Coinbase go. Keep in mind, though, that COTI has lost a lot of its value. Despite the efforts of some price prediction sites, it is hard to see where the recovery can come from, at least in the short term.

On the other hand, there is a school of thought that suggests people should buy in the dip. This might make COTI a tempting investment. The problem here, though, is that we don’t know how long the dip will go on, nor for how long it will last. As ever, you will need to do your own research. 

Much of the future price performance may depend on the V2 update, as the market may be interested more in this rather than the ongoing SEC cases.

Will COTI Go up or down?

No one can really say with any certainty. While price prediction sites seem optimistic, it is worth noting that they are based on the theory that markets will go up over time, so it is unclear how accurate they will be. Remember, too, that price predictions very often end up being wrong and that prices can, and do, go down as well as up.

Should I Invest in COTI?

Before you decide whether or not to invest in COTI, you should do your research. You should also remember prices can go down as well as up, and never invest more money than you can afford to lose.

FAQs

How many COTI are there?

As of July 25, 2024, there were 1.57 billion COTI in circulation, out of a total supply of 2 billion.

Will COTI reach $1?

Our price predictions suggest that COTI can reach $1 in the current bullish market cycle.

Will COTI recover?

It could do, but a lot will depend on the outcome of various cases involving the SEC and the performance of the market as a whole. To put it simply, we just don’t know right now.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.