Ontology (ONT): How Far Can The Rally Go?

In a slumping market, there are still spots of exuberance - but how far can the rally of ONT survive?

Ontology (ONT) keeps breaking price levels every day, and has become one of the few booming assets, due to a mix of novelty and active trading. Also, ONT is at the stage where it is just hitting exchanges and traders are eagerly taking up the coin.

ONT grew by more than 18% overnight to $4.44 as trading took off on Asian exchanges.

The expectations for this asset are high. But at this point, the ONT airdrop is not complete, and the launch of the main net may see the supply doubling as users receive their new coins. But with the recent trend, double-digit prices for ONT are not out of the question.

Ontology Remains Promising

The Ontology project aims to build a complex ecosystem, complete with identities, a two-token model, and cross-chain mechanisms. Smart contracts are expected to arrive after the official launch:

But in the short term, it is ONT trading that is lifting the interest for the project. ONT is poised to enter the top 20 of CoinMarketCap, and increase its visibility even further. So far, ONT has displaced OmiseGo (OMG) from its positions.

Trading volumes also show a trend of increasing every day, while other coins stall, so ONT may expect to see further appreciation in the short term.

However, there have been warnings for days regarding the rapid rise in ONT, and newcomers are advised not to jump in at the current prices, as every spike has the potential to turn the tides and wipe out the gains. At this point, only 50% of the ONT supply is tradable, and the expected mainnet launch in Q2 2018 will potentially flood the market with new coins.