Check Today's Crypto Market:
Bittime -Over the past few days, COTI has experienced an extraordinary price increase, namely 60%. The price exceeded Rp. 3819 during the last 24 hours. Trading View said that trading volumes approaching the $400 million threshold indicate increased interest and high activity among investors.
Innovative Features Drive Price Increases
The COTI Network, which focuses on financial technology (fintech) solutions, recently launched a new feature aimed at improving user privacy. With the introduction of Garbled Circuits, COTI claims to have set a new standard in blockchain encryption.
The announcement of the "Garbled Circuits" feature on February 20 is considered by analysts to be a factor that contributed to the surge in the token's price. This feature is designed to overcome the limitations of previous blockchain encryption methods.
Also Read How to Buy Crypto:
The Market Responded Positively To The Introduction Of Garbled Circuits
This can be seen from the significant increase in COTI prices. However, despite the increase, this asset faced resistance at the level of IDR 36490.90, which led to price consolidation.
Check Crypto Prices Today:
Market Outlook and Technical Analysis
Market participants remain optimistic but remain cautious due to the volatility of this asset. Traders are advised to focus on longer time frames to effectively navigate current market conditions, with a projected potential upside to $1.
Bittime market data on February 29 2024, the COTI to IDR price was IDR 3,503 , an increase of around 2% from the price in the last 24 hours.
COTI to IDR technical analysis on the 4-hour price chart shows that the Money Flow Index (MFI) is at 6.95 which indicates relatively low buying pressure. This could indicate a potential oversold market condition that could lead to a price correction.
This pattern suggests that the current negative trend may be caused by investors taking profits and selling their holdings, causing prices to decline.
A sustained rise in prices will require a reduction in selling pressure and an increase in buying demand to push prices up.
Also read Money Flow Index (MFI): Definition and Method
How to Buy Coti (COTI) on Bittime
You can buy and sell Coti (COTI) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Coti (COTI) is available on Bittime with the market pair COTI/IDR . To be able to buy COTI IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Coti (COTI) on Bittime .
Monitor price chart movements of Coti (COTI) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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