Ontology has shown its intent of increasing its reach globally by declaring partnership with Bidaochain. ONT is likely to be used as a collateral instrument in the Bidaochain system. ONT’s use as collateral asset hints at the perceived stability of the coin for the long-term.
Ontology Price Analysis
The currency was stuck at $0.40 for long and started moving upwards swiftly at the starting of this week. However, around April 25, the coin cooled down its pace marginally and faced moderate fluctuations. After the next few hours of zig-zag price pattern, it has been rolling down the hill since yesterday.
Ontology price was spotted at $0.4949 on yesterday, and over the next 7 hours, it got de-escalated to $0.4688. After that, the ONT continued to trade downwards and marked another price drop that happened between 07:15 & 14:45 UTC. In these seven and a half hours, the price was pulled down to the lowest level of the day at $0.4546. However, it soon came back to the game by soaring at 4.01%. The ONT price moved from $0.45 to $0.47 over the next 10 hours.
There is no doubt in the fact that Ontology has given tremendous returns over time. But as per the current volatility, traders need to play safe. Recently, it reflected a breakout after trading above $0.47 and spotted at $0.465. A support point at $0.45 is likely to be there as a safety net. Investors may witness a certain degree of price fluctuations in the coming days as per Ontology prediction.