Ontology (ONT) Tokens Explore Price as Binance Starts Trading Against BTC, BNB and ETH
Ontology Network's ONT tokens are now listed on Binance for trading against BTC, BNB and ETH.
Binance cryptocurrency exchange announced the listing of Ontology tokens today with ONT/BNB, ONT/BTC and ONT/ETH pairs. At the time of writing, ONT/BTC is around the 16k Sats range, amounting to almost $1.62.
At the start of trading, ONT’s price was around 22k Sats, going up to a maximum of 100k, before dropping as low as 11k.
As is typical with any new coins which start trading, the price discovery takes place in steps, usually starting high and dropping low as original holders sell in bulk for profits. Now, with most of the selling done and over with, the coin is expected to find a floor and ceiling, and experience organic price movements.
Having conducted its free coin distribution from October 2017 to January 2018, ONT tokens were given out in reward events, with newsletter subscribers getting 1,000 tokens. The total supply of ONT is set at 1,000,000,000 tokens and more coins will be distributed in Q2 2018, after the ONT Mainnet goes live. Even at the current price of $1.62, those who participated in the newsletter airdrop are holding $1,620 worth of free tokens.
Earlier this month, NEO Council, which also received 10% of ONT tokens on account of being technology and ecosystem partners, decided to airdrop their share to NEO holders. However, the airdrop ratio was 1:0.5, and only 50% of the ONT received by NEO holders would be made available to them now, with the other half distributed after the Mainnet launches.
As a project, Ontology Network seems to push the spirit of blockchain technology, focusing on decentralization, by allowing the creation of distributed identity verification systems, data exchange, collaboration tools and other modules aimed at benefiting communities.
Now that Binance has listed ONT, it is likely to be picked up by other exchanges, and we may see price appreciation as the Mainnet launch draws near.