Ontology is a blockchain distributed ledger network that combines data exchange, procedure protocols, distributed identity verifications, data collaborations, communities, many industry-specific modules, and attestation. It acts as a connecting medium between many blockchains. Its native network token is ONT. OnChain launched it in 2017. It is an entity of NEO.
Current status of ONT
Currently trading at USD 1.01, it is the 20th largest cryptocurrency by market cap (UTC time 07:05). Its circulating supply is 324,286,568 ONT which is worth of USD 326,617,537. Compared to its yesterday’s price, ONT has got hiked by 4.80%, and it is currently following a bullish trend.
Price analysis of ONT on the basis of Ontology charts
From the above chart, it is evident that at present, ONT is getting traded at 1.02 USD or 0.00025871 BTC (UTC time). Its present market cap has a value worth of 330,456,966 USD with 73,168,740 USD as its 24h volume. The same chart shows that the price of ONT, nearly one month back was 0.577857 USD. So, within this nearly one-month duration, the value of ontology has spiked up by 76.51% with 0.925902 USD as a good support level. ONT has been on a bullish trend for nearly one month back.
Future price predictions of ONT
Seeing the upward trend in ONT charts, the predictors assume that by the end of this year, ONT can reach a height of $2.61 mark. Its predicted minimum price in November 2019 is expected to be around $2.21, and the maximum price is assumed to be approx. $3.26. Considering the long term investment for five years, ONT can have a trading value of USD 4.12 in 2023. According to the technical analysts, the price of ONT after one year can grow double fold that it’s current price. The predictors assumed that in spite of the volatility, ONT would not be affected high enough and it will be stable to a major extent. This indicates that ONT can be a profitable long term investment.
ONT can be a very good choice for the investors if they are looking for good returns from long term investment on a cryptocurrency.