First of all what I would like to say is do not believe everything you read on social media with the latest COTI debacle being a prime example. COTI unlike 99% of all other crypto has developed a genuine battle tested and proven use case with their Privacy on Demand and would never rug pull.
Last week COTI launched their privacy on demand on Avalanche whilst also at the same time announced a handover replacing the team that has been in charge for the last 9 years. This created panic and so much FUD with many calling it a scam and a rug pull.
This to anyone who has done any research over the last 5 years which is what I have done will know this is not true. The COTI Foundation is the people behind COTI that over see COTI. The COTI Foundation remains behind the scenes and the new ZK Foundation was going to run future roll outs and developments integrating COTI into the various real world use cases. The ZK Foundation was just a name and they admit the wrong name as Zero Knowledge is not what COTI's privacy tech is based on which is Garbled Circuits. The name will be changed.
The FUD was created around two wallets which were transferred from the COTI treasury with one in control of the Market Maker (East Asia) with the aim of adding more liquidity for the intended growth in use cases expected. The market maker went rogue and flooded the exchanges with COTI which thankfully did not tank the price even though more than 120 million COTI was sold. Just think if this was not sold where would COTI's price be today?
There has been FUD from some of the social media influencers involved in crypto and they have no credibility anyway. When you are not fully researched making public statements is dangerous and why no one should be listening to them in the first place.
This created many long term investors to head for the hills and they sold their bags which created even more price pressure. The one person i was chatting to privately holds 10 million COTI and he sold. There will be regrets and I am sure some will buy back in or already have.
The COTI fundamentals are solid and they have the technology to back up the POD that they are rolling out. I have mentioned they are already live on Avalanche and Ethereum is coming next which will happen quickly. If they had no tech then one could think there is something more to this FUD story than what there is. Ethereum and Avalanche and all the other blockchains are relying on COTI to deliver so they are going nowhere.
The ZK Foundation is where the confusion comes in because the better move would have to keep the COTI Foundation name and just change the leadership that is in the public eye. The make up of the foundation is investors who will make no money or return on their investment if COTI fails so why would they tank their investment? The answer is they will not and COTI is going nowhere and the COTI roadmap remains in place and nothing has changed. Poorly executed in hindsight and if we are honest they could not have done a worse job.
I have been stressed as I have been growing my COTI bags for the last 4-5 years and I have done serious research spending hundreds of hours making sure my investment is safe. Crypto is a risk and you need to know what is happening at all times with your investment otherwise you rely on others to keep you informed. I was deeply worried seeing all the negativity which made me question what I knew and logic won me over as none of what was being reported added up or made any sense. I would comfortably say I know more than most on the COTI topic because I made the research a priority and why I still hold and others have sold.
We have heard there is a travel app coming which is actually already established and will dive deeper into that in my next post this evening. If I was on Travala I would be majorly concerned and I will show you why in this post later. This travel app is actually a very big deal and is like no other and offers savings of up to 30% in comparison to Bookings.com on the same bookings for hotels, BNB, flights and car hire all paid in crypto.
Today things are quieter and the FUD has died down so at least we can continue without having to see this nonsense with only the serious investors left.