After the latest market downturn shook the price of Bitcoin to below $7,000, one of the few coins in the green was Ontology (ONT), the recently launched platform. ONT is, for now, a NEO-based toke, but expects its own network in the future.
ONT had a recent peak at $2.68 before sliding to $2.13 and heading back again. ONT added more than 10% in the past day, boosted by Asian trading and volumes on Binance, but trading is thinning out since the peak prices and a move downward is also possible.
In the coming days, the ONT price will have to show the effect of trading on Huobi. But it may take longer for the recently launched coin to find a price, and the current spikes may be temporary. KuCoin trading is also taking off, and there has been talk of adding the token to Bittrex.
Ontology has one extra piece of news up its sleeve, as it releases its source code tomorrow on GitHub after a countdown period. It is unknown whether the investment community would make their decisions based on that information, but it will give Ontology additional transparency.
Despite the airdrop campaign and Binance competition, Ontology remains relatively unknown outside the NEO community, and dedicated Ontology supporters. However, the project may start to gain prominence in the coming months.
The ONT digital asset is riding the trend of creating additional platforms for distributed apps. In the future, ONT would follow the dual-asset model that has been adopted by several projects. However, there is no guarantee that ONT would manage to command the high market prices of NEO.
Meanwhile, NEO has stemmed its slide, losing around 1.5% to $53.17. QTUM also remains relatively unshaken, up just below 1% to $14.88. Curiously, TRON (TRX) kept most of its recent gains, standing at $0.45. All three assets showed some strength for existing or upcoming platforms with potential relations to the Chinese online world.
This article appeared first on Cryptovest
