The ONT token is breaking price records soon after the airdrop, inviting the curious and the speculators.
The Ontology (ONT) phenomenon continues, just as the crypto coin markets are beginning to get ready for a new crop of tokens rising to new levels. ONT appreciated another 15% as the week progressed, reaching $3.81, making the weekly growth a whooping 80%.
The opinions on the ONT market price vary, as some are aware the asset may correct. However, the ONT platform is still in the price discovery stage, and no one can tell where its price could reach, if it followed the track of similar projects such as NEO, or QTUM. The rapid price rise is happening while the Ontology project is still in the NEO-based stage, and the asset may have a complete overhaul and influence once it launches the main net.
For Ontology, the creation of its own platform is right now going through the testnet stage, as users are adding and testing nodes. The active testnet is a rare feature, as new projects sometimes take months before launching this stage. Recently, Ontology released its first open-source projects on GitHub, and plans to draw developer talent to improve its public blockchain infrastructure.
Jun Li, Founder, Ontology, said, “We acknowledge that blockchain brings about social collaboration in finance, business, organisations, and populations. It reduces costs, increases efficiency, and even changes values of existing models in business and social collaboration. We must also recognise that blockchain is still without perfection, as it faces many problems in technology, ecosystem, and other mechanisms that need to be explored to support mainstream industries.”
Additionally, the ONT digital asset is just being added to exchanges, and may quickly see the effect of Asian trading and speculation.
The latest addition is CoinEgg. However, the addition of new exchanges will not lift the ONT trading volumes as much. The peak trading happened right after the airdrop, and then later during the Binance trading competition and reward. Still, the ONT digital asset is breaking records against Bitcoin every day, and appreciating in dollar terms.
Binance trading is still responsible for more than 56% of trading volume, and ONT sees an initial burst of activity on new exchanges, but also a quick withdrawal of traders.
Ontology Scam Awareness
Just like other popular projects, Ontology is seeing its share of impersonators. Beyond the inactive ICO link in the Neon wallet, users should be aware of other unauthorized or inactive offerings.
Ontology has not announced any information about the second round of community reward. Please refer to official announcements ONLY and look out for scams. $ONT— Ontology (@OntologyNetwork) April 9, 2018
At the moment, fake community rewards may lead to losses. If in doubt, refer to the official social media.