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Price Analysis

Ontology (ONT) Price Analysis: Ontology’s Advancement with Augmenting Price Values

Ontology is a high-performance public blockchain that primarily focuses on resolving the scalability issues by executing a distributed trust collaboration platform. This token is considered as a second generation cryptocurrency which overcomes the shortcomings of the 1st generation currencies. It is also a public platform that removes the barriers between the business sector and blockchain. The infrastructure consists of – ONT blockchain, frameworks and interaction protocols, which builds a peer-to-peer trust network utilized in cross-application, cross-chain and cross-device. Ontology uses dual token ONT and ONG model. Whilst ONT is the coin used for staking in consensus, ONG is a utility token for on-chain services. ONT releases ONG periodically.

OntologyONT is currently getting traded at USD 1.31 (07:29 UTC). Based on its market cap value, it is the 18th largest cryptocurrency with a circulating supply of 494,823,234 ONT coins. The total supply of coins equals 1,000,000,000 ONT.  Its current market cap has a trading value of USD 646,998,523. Deduced from the CoinMarketCap, the current value of LTC is 1.38 USD or 0.00029421 BTC at 11:34 BTC. Its current market cap is getting traded at USD 681,959,523 with 100,154,774 USD as its 24h volume which is relatively higher by 124.8% from the value of USD 303,356,881 on March 02 at 07:34 UTC. The market value started at $170 million and had been range bound to $320 million until March 13, with its lowest on February 08 of USD 167,866,722. The overall market bounced up and has been inclining, with no major variations or dips. The current value of the cryptocurrency is its all-time high, which backs the market growth. The 20-day Exponential Moving Average also shows that the market is an uptrend, with its values rising from USD 333,112,547 on March 13 to today’s value. The rise in price value of the cryptocurrency by 33.98% from 1.03 to 1.38 USD offers complete resistance support. This vital note-worthy growth pushes the digital currency into the bullish market.

Trading beasts predict the price of Ontology to increase further by an average of 428.26% by the end of 2019. The price value would reach 7.29 USD by the beginning of December 2019, with the maximum expected to reach 9.55 USD and the minimum to reach 6.33 USD. Nevertheless, the site’s prediction overall gives an optimistic approach by the cryptocurrency in the future. Similarly, Crypto ground gives a realistic approach to the price prediction of this token. It estimates the price to reach 3.45 USD by the end of 2019, which is a mere possibility with the current market scenario. ONT’s ties with China’s largest blockchain NEO gives this token a chance to surge up in value in the future. This tie-up will enhance the price to 11 USD per token by 2020. Price prediction for the cryptocurrency suggests that ONT price is up for a long term investment, which means by 2022, ONT’s price is predicted to stand at 77.249 USD, and by 2024, the price would shoot up to 137.6 USD.

The current market, with the backing of the moving average and the pressure of the bulls, falls advantageous for the buyers. The prediction gives hope with ONT’s long term investment plans. Hence, the investors and traders are advised to utilize this stable market for high returns from their investments.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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