Definition of the Token
The cryptocurrency used by Ontology, a high-speed blockchain that aims to address difficulties with data integrity and identity security, is called Ontology Coin (ONT) (making sure data remains accurate and consistent).
ONT ID enables you to securely maintain your digital identity by keeping it on your phone or in reputable cloud storage with a private key that only you have access to.
What is $ONT
Multiple blockchains can be developed on top of the primary Ontology blockchain thanks to Ontology. This is consistent with Ontology’s emphasis on providing services to enterprises. Businesses who utilize Ontology’s technology have greater freedom to develop a blockchain that suits their needs than if they were required to use a single public blockchain with predetermined rules and specifications.
Owners of ONT receive benefits from ONG, which are used to carry out smart contracts and access the network. A respectable yearly return on investment of 2.75% is possible if you stake ONT, which is 30.5 times greater than the typical US bank savings account.
In the digital age, Ontology’s ONT ID can be used to rapidly and securely validate new users without involving delicate papers like passports. Highly advanced cryptographic methods, as opposed to something like a signature, which may be falsified, ensure the system’s security and freedom from manipulation. Ontology Trust Anchors, who offer credential verification services in exchange for ONT tokens, provide the proof or verification.
Ontology thinks its alliance with the NEO platform would help it gain an advantage over rivals like Ethereum. Ontology’s market cap is currently USD 350 million as of November 2018, down from USD 1.3 billion in mid-2018. There are a maximum of 1,000,000,000 coins available, and as of right now, 207,016,949 tokens are in circulation.
How to use $ONT
Staking in Ontology refers to your agreement to forgo a portion of your ONT for a specified duration of time. You support the Ontology network’s stability during this time. You receive ONG as a gratitude for your support. It can be thought of as interest in your cryptocurrency investments.
The ONTO Wallet gives you complete control over your digital footprint, allowing you to hold on-chain assets and view transaction history. Manage your digital assets, data, and identities with a single cross-chain wallet. Your data is safeguarded by encryption and entirely under your control when using ONT ID.
With a 0.1 ONG withdrawal charge, you may purchase ONG on Binance and withdraw it to your Wallet. For accounts that have not been confirmed, Binance gives a daily withdrawal cap of 2 BTC and does not require KYC. Although you can always check the available markets at Coinmarketcap or Coingecko, Binance is unquestionably the most well-liked choice. Depositing some cryptocurrency and exchanging it for ONG is the simplest method.
Is it Good to Invest in ONT
Different ecosystems may become integral to Ontology as optimal DeFi, payment, and decentralization solutions based on their alliances.
ONT had a great start to 2021, with a 26-fold increase from $0.4 to $2.69 by May 2021. That was a growth of almost 500%. Investors and traders began booking profits, causing the price to drop abruptly. In less than two months, the price dropped from $2.69 to $0.58. The price almost recovered to the beginning of the bull spike.
The currency has been on a sideways trend with occasional price increases and decreases. The coin is currently valued at $0.6969, with a total 24-hour trading volume of $119,125,992. The crypto market is booming, and ONT’s price has just risen slightly as a result. Significant resistance is encountered at $1.04, and considerable support is encountered at $0.43, based on the current price level. Since 2021, the price has held this threshold, giving investors a favorable signal.
According to Bollinger Bands, volatility has risen, and the price is now above the higher band, signaling a positive trend. Technical indicators also support bullish momentum. According to RSI, which has crossed the overbought threshold at 76, there is strong bullish momentum. Bullish momentum is indicated by the MACD line trading above the Signal line.
The coin’s overall indicators are positive, and the current price levels are ideal for traders and investors to buy the coin and hold it until it reaches at least $1 again.
Latest News about $ONT
Overview of the Top 5 Crypto Performers: ONT, ADA, ETC, BCH, and IOTA
As a result of the market’s enthusiasm for the several announcements made over the previous few days, ontology has been the top gainer of the past week. Ontology partnered with MovieBloc, a brand-new participant-focused film distribution platform supported by a Korean video streaming service.
Pandora.tv. Ontology’s founder, Li Jun, said that the project had finished a loyalty-based points solution for Fosun, a Chinese investment and worldwide corporation with around 100 million customers.
