Since the second week of January, 2018 the cryptocurrency industry has been experienced a down trend. Despite this trend, more coins are coming up taking good positions rated by market cap. Ontology is one of these coins. In early March, Ontology airdropped a NEO-based token which has in the past days taken a pace and it is about to get to its peak in an industry that is mostly dominated by bitcoin. Since its launch on 3rd March, it received an incentive on Binance exchange and it has been enjoying an active trading.
Ontology (ONT) Coin Price Analysis and Forecast
While other coins seem to lag in picking up, Ontology has been picking up quite well. This is especially do in volumes as well as pricing. According to coin market caps, Ontology has improved by more than 49% in the last 7 days. The price slightly went down after the competition on Binance but it has continued to pick up. At the time of writing, it was valued at $2.04 and it had traded over $32 million in a period of 24 hours and it is listed in 7 exchanges.
Risks Ontology faces
The appearance of a fast growing is not a new thing in the cryptocurrency industry. While some experts may say the rise of Ontology is attributed to its pre-discovery stage, there is a likelihood that it may be similar to NEO as one of the leading platforms. The price may not be really pre-determined due to the current high market volatility.
In addition to the lack of predetermined prices, Ontology faces another minor risk because it did not have a crowdsale. It was just airdropped for the NEON holders. The NEON wallet feature may mislead a lot of potential investors looking to purchase some ONT tokens.
What must Ontology do?
In the near future, Ontology needs to prove its value to the investors and as a part of the NEO ecosystem. This will be compared with the other projects that are based on the same NEO network. However, ONT founders says that in the near future, there will be a dual-coin structure that will enable Ontology to generate ONG tokens.
Other cryptocurrency enthusiast remain skeptical that the steady increase in price is due to the fact that it is still under pre-discovery stage and its price is heavily tied on how bitcoin performs thus making it quite unpredictable.
NEO defends the price of Ontology
Despite Ontology’s success which is based on NEO network, NEO has been down by more than 26% in the last 7 days and currently priced at $47.52. The other coins that are based on this network are not performing at all either. Currently, the only Chinese asset that seems to be quite booming is Tron.