The Ontology Gas (ONG) has witnessed the doubling of its price, after the announcement by Binance that there would be a new addition of pairs with of cryptocurrency which would also increase its liquidity
Based on the available data, the token is already hitting the mark of 140% in the last one day owing to the listing. The token is trading at slightly above $1on the platform. Meanwhile, cryptocurrency surged around 140% and is currently trading at 0.0002881 BTC.
According to the Binance’s announcement, trading the pairs against USDT, BNB, and BTC is expected to be the new additions to the platform. The role of a token on the Ontology (ONT) network s comparable to that of fuel for the essential functions of energy.
The surge of token sales cannot be attributed to increased liquidity alone. Instead, Binance has also been distributing ONG to users who had ONT on their respective platforms and those who would be capable of trading it as well.
According to Binance info, Oncology is a project that “provides new high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems, and at the same time supports public chain customization and chain network collaboration, while continuously providing common modules in various distributed applications.”
Furthermore, It includes a “centralized identity authentication protocol, distributed data management protocol, and credit score protocol.”
Ontology is presently trading at $0.9, and there has been a rise in the prices by about 70%. All credits are being attributed to Binance’s listing.
A total of $37 million in Ontology were shifted to NEO token holders. After this, the development team working on cryptocurrency has come out and said that it would develop private” smart contracts by forging meaningful partnerships.
ONT’s trading volume is influenced considerably by Binance, DigiFinex Huobi, Bit-Z exchange, Upbit, Coinall exchange, Gate.io, and, OKEx. Overall, Binance’s trading volume for ONT is driving it upwards when compared to other exchanges with ONT listing.
ONTOLOGY PRICE CLIMBS RAPIDLY
Such eventful weeks are surprising in the normal context of token industry and cryptocurrency. Although the beginnings may look dull and uneventful, something happens to lead to the momentum of trade. The fact that Ontology is gaining like anything in the market has taken a man by sheer surprise. However, one has to acknowledge the role of Binance in these happenings
One also has to note that USD has achieved impressive despite the inactivity of Bitcoin. The BTC based trade surges allow the value of USD to rise.
The social media discussions regarding Ontology also tends to cover Binance for some unknown reason. Binance is in the process of driving this particular trend. However, speculations and social media hype cannot possibly be the reason behind the trade surge and cannot sustain this for very long.