COTI Skyrockets 65% Following Listing on Coinbase Pro
The price of COTI skyrocketed to a three-month high in hours following an announcement by the largest digital asset exchange in the US – Coinbase. The platform will list for trading COTI on August 26th at 9 AM Pacific Time (PT).
COTI (Currency of The Internet) is a blockchain-based protocol aiming to optimize digital payments by building a decentralized and scalable network facilitating global commerce.
Its native cryptocurrency will be listed on the largest US-based exchange – Coinbase Pro. The company announced yesterday that it had already enabled transfers of COTI into customers’ accounts on the platform.
As with previous additions, users will be able to interact with COTI in supported jurisdictions with certain exceptions.
Coinbase said trading will begin “on or after” 9 AM Pacific Time (PT) on August 26th if liquidity conditions are met.
“Once sufficient supply of COTI is established on the platform, trading on our COTI-USD order book will launch in three phases.” Namely, those stages are post-only, limit-only, and full trading.
Listings on Coinbase and Coinbase Pro typically serve as immediate catalysts for price increases.
This was also the case with COTI. The asset traded around $0.3 ahead of the announcement, but it skyrocketed by roughly 65% in a matter of hours to over $0.49. This became its highest price tag in more than three months.
Despite retracing since this peak, COTI still trades 33% higher than its position yesterday – at $0.40. This is in contrast to the market-wide correction that drove BTC and most altcoins south in the past 24 hours.
COTIUSDT. Source: TradingView