The price of Ontology (ONT) crypto went up 20 per cent and it was trading at US$ 0.5729 per token, at 7 AM EST. Ontology cryptocurrency seems to be gaining investors’ attention as its 24-hour volume skyrocketed 325.7 per cent to $186.9 million.
Overall, the cryptocurrency market seemed to be recovered as prices of major cryptocurrencies remained in the green. At the time of writing, Bitcoin was up about four per cent and trading at $37,860.52 per token.
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Meanwhile, Ether, the second largest cryptocurrency in this world recorded a massive spike as its price increased by 18.3 per cent. On Friday, February 4, there were 17,335 cryptos in the market and the market capitalization was $1.76 trillion.
What is Ontology (ONT) crypto?
It is the native token of Ontology, which is a network of public blockchains. According to the network’s website, it is distributed and trust-based collaboration platform.
Ontology network has an integrated support of smart contracts and ledger accounts. As the network has a unique infrastructure, it allows users to design a blockchain as per their requirements.
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To enhance the security and trust, Ontology network comprises a mobile digital ID application, ONT ID, and a decentralized data exchange.
On June 30, 2018, Ontology had launched its mainnet and it operates separately from the NEO blockchain. Mainnet is important as it is an independent blockchain, which means the network has its own protocol and technology.
Bottom line
Notably, Ontology network offers real-life use cases like allowing businesses to build their blockchain on the network’s blockchain. The ONT blockchain also assists in negating the transaction network fees.
The network distributes free Ontology Gas (ONG) to the crypto holders as per their holdings.
To buy this cryptocurrency, interested investors could visit cryptocurrency exchanges like OKEx and Binance.
Also Read: Why is OOKI crypto price up & how to buy this token?
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