Another day of the crypto market getting pummeled and everyone is wondering where to next as if we were all honest this is unchartered territory and we have no clue. Bitcoin down by 6% in the last 24 hours is actually quite big as this represents a little over $5K. One of my alts being COTI is down 11 % and is a huge whack on the portfolio, but the positives is this is not unique and is replicated across the board with every other crypto.
During these times one has to zoom out and look for the positives and if your crypto investment has a purpose and use cases then the fundamentals of why you invested into that particular crypto project have not changed. I know many of those invested in crypto have no idea what their particular investments do and even if they serve a purpose and are following others. Nothing is guaranteed and no one wants to be holding a lemon.
At least on the upside my COTI investment is part of the privacy narrative and the base use case is growing daily. Privacy tokens are up by nearly 240% when it comes to sector performance and this has gained momentum over the last 3-4 months. There is no question that privacy is going to be the leading narrative in the next bull cycle as this is very important for crypto adoption as without out this technology institutions cannot use the various blockchains. Transparency which was what everyone believed was so great is actually the exact point what was holding crypto back. Regulated transparency is what this is all about as businesses want to use the blockchains as long as their transactions are encrypted revealing the information to those that need to know whilst staying compliant of all regulations.
The perp volume on PriveX is growing at such a rate that COTI is now chasing down BASE and SUI by daily trade volume. Traders do not want to be front run by bots skimming their profits which has been a big problem over the last few years. MEV bots which stands for Maximal Extractable Value is a bot that front runs trades using various tech that completes multiple trades within a second and is responsible for stealing/skimming over $1.2 billion last year. Not surprisingly traders are now seeking privacy tech to encrypt their trades and keeping the trade private and earning the full rewards. COTI at number 15 on the Perps volume chart when just last week they were 18th and expect them to pass BASE this week and SUI next week. This is a sign of where the market is heading and the data and numbers are showing us this and is not just talk.
The COTI V2 privacy tech known as garbled circuits is available to over 71 blockchains when using the Axelar network. The Axelar messaging app allows developers on chains to access the privacy tech without having to move from their native chains. The privacy narrative will be hitting all chains soon enough especially those who have DeFi.
