A little-known cryptocurrency, Coti (COTI), is seeing a surge in price this week after being chosen to participate in a major project.
CBDC Boost
Coti, a privacy-focused blockchain built on Ethereum, is up over 27% this week. This jump comes after the company announced it will be working with the Bank of Israel on their central bank digital currency (CBDC) project.
Coti will be working alongside big names like PayPal and Fireblocks to help the Bank of Israel explore how to use a CBDC. Coti believes its privacy-focused blockchain is a perfect fit for this kind of project.
More Than Just a CBDC Project
Coti’s price is also up nearly 3% in the last 24 hours. While these gains are impressive, the coin is still trading significantly lower than its all-time high from 2021.
Important Note: This information is for general knowledge only and should not be considered investment advice. Always do your own research before investing in cryptocurrencies.
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