Ontology (ONT): The Only Coin in the Green as Markets Slide Again

The momentum continues for ONT, while the markets are taking a small downturn and Bitcoin struggles to hold above $7,000.

Ontology (ONT) is one of the few coins in the green, as the markets are taking a downturn towards the end of the week. ONT keeps growing, adding more than 8% to its price in the past hour. Overnight, the net growth is more than 10% and now ONT stands at $2.63.

One of the reasons behind the peak, besides the momentum and speculative trading in Asia, is a recently announced partnership:

Ontology has reached an agreement with several investment firms, Sequoia China, Danhua Capital (DHVC), Matrix Partners China, and ZhenFund, which will oversee and assist in building the complex ecosystem of the multi-chain platform.

“We are very thankful for the support and trust from Sequoia China, DHVC, Matrix Partners China, and ZhenFund. We will continue to work on the research and development of blockchain technology and create a world-class blockchain infrastructure and trust-based application ecosystem. In addition, we will persist in finding viable blockchain solutions for different industries,” said Jun Li, Founder of Ontology.

The ONT digital asset slowly increases its influence weeks after the airdrop. The Kucoin exchange, which credited users with the airdrop, has released the NEO-based tokens for withdrawal:

One of the risks about the ONT token is a mistaken sale announced in the Neon wallet. There is no ongoing sale for ONT, despite the announcement in the wallet. Sending in NEO tokens may lead to losses.

In the past days, the general trend for ONT has been a gradual growth. However, the latest upturn is happening on thinning volumes. And while there are big expectations for the ONT price in the future, even the slightest selling pressure has pushed prices lower.

On the positive side, ONT is gaining in terms of Bitcoin prices, at least while BTC is stalling. It is unknown what could happen in case BTC resumes its independent climb. For now, the climb of ONT is rather gradual by the standards of crypto coins, doubling since trading launched less than 20 days ago. But ONT has not seen a vertical climb yet, and the popularity is increasing gradually.