Ontology, China-based crypto founded in Singapore, was initiated in 2017 by Li Jun. It was created by Onchain. During its initial time frame, the crypto got technical support from Onchain’s developer team. However, both are focused on their ventures. The holders of crypto NEO were given Ontology free of cost in March 2018.
Ontology is a high-performance, open-source blockchain specializing in digital individuality and data. It is a distributed collaboration platform for smart contract creation and decentralization application disposition. It focuses on providing customizable public blockchain services for different types of apps and getting the advantage of blockchain technology.
It allows companies with diminutive or nil knowledge of cryptocurrencies to integrate blockchain technology into their business.
The Ontology platform comprises of two coins:
- The Ontology Coin is known as ONT
- The Ontology Gas is known as ONG (released in 2018 with Ontology MainNet)
ONT went on sale publicly in March 2018. It has a huge potential because it is affluent to implement without the change of the internal system. It is a trouble-free platform as it allows users to perform data and money transactions without the involvement of a third party.
Ontology Partnerships
Ontology ID has recently integrated into a number of leading products through partnerships with Mercedes Benz, ROCKI, and many more. ONT has recently ventured with ROCKI, a next-generation music streaming service. As ROCKI volunteers to work with renowned companies and services in the market, it can be a gainful opportunity for ONT to promote in the future. ONT will be solving the KYC and identity security-related issues of ROCKI.
ONT’s Decentralised Identity (DID) authorizes ROCKI’s substandard performers from mimicking musicians. ROCKI has spent months looking for a reliable KYC provider and ultimately chose ONT for its clients’ security. In the beginning, the verification process will be done to verify the identity credentials; after completing the verification process, the customers will receive a blue stamp of approval.
Ontology Price Analysis
Ontology price may head upwards if it crosses its resistance point of $1.17. When the coin was offered for sale in public in March 2018, after a month, the token reached its all-time high of $12.00.
From the beginning of February 2021, the token started to rise from its support level and reached its high. During April-May 2021, the ONT coin price was trailing at its highs of $3.08.
It is moving in a downtrend market; however, we can expect an augment in the Ontology price if the upcoming candles cross the recent high of $1.19. If the coin crosses the high of $1.19, we can expect the price to reach $1.35.
In the daily and the weekly chart, Ontology is trading with sideways momentum and has not presented any major movement. The technical parameters are neutral and do not give and signal of price movement.
In the 4 hourly time-frame chart, the price is moving at the resistance point. However, it is unable to cross the last resistance point, and the ONT price is getting tested there. At the peak point, a bearish candle was formed. Even though there was an immense volume, still the coin price couldn’t rise much and went from lows of $1.04 to highs of $1.14. If in the upcoming week, the price of Ontology crosses $1.17, we can expect a bullish movement, and it may hit $1.33.