Ontology Crypto: A Smart Investment Move?

Ontology (ONT) is a public blockchain project and distributed trust collaboration platform that was launched in 2017 by Onchain, a Chinese company. It is a high-performance platform that enables businesses with minimal cryptocurrency expertise to incorporate blockchain solutions into their operations. The Ontology framework includes two tokens: the Ontology (ONT) and the Gas token (ONG). The current price of Ontology is $0.1696 with a 24-hour trading volume of $8,038,066. In this discussion, we will explore the topic 'Is Ontology Crypto a Good Investment?' by analyzing its past performance, expert opinions, and future predictions.

Ontology's price history

Ontology Coin (ONT) began its life as an NEP-5 token on the NEO blockchain in 2017. The Ontology mainnet was launched on 30 June 2018, and the NEP-5 ONT was swapped for the native mainnet ONT.

The Ontology token was launched at a value of $2.8 and within a few weeks of its launch, the token price went up to an all-time high of $11.18 on 3 May 2018. The year 2018 was a great year for the token; however, as the year ended, ONT lost its bullishness, and since then, it has been trading in the red below the $2.8 value.

The beginning of 2021 was quite positive for ONT as there was tremendous growth from $0.40 to $2.69 by May 2021. This growth was more than 500%. Investors and traders started profit booking, leading to a sudden price fall. From $2.69, the price fell to $0.58 in less than 2 months. The price almost went back to the level from which it started the bull run.

Since then, the coin has been trading sideways with minor price rises and falls. The Ontology price as of July 2024 is $0.21, with a 24-hour trading volume of $108,726,285. The entire crypto market boomed at the end of 2023, and Ontology also saw a slight price rise.

The Ontology price as of September 2024 is $0.19 per ONT, with a 24-hour trading volume of $8.17 million. The current circulating supply of Ontology is 907,697,857 ONT, which means that Ontology has a total market cap of $173.49 million.

Ontology's future price predictions

Short-Term Predictions

• According to a prediction from August 12, 2024, the Ontology price is expected to trade between a maximum of $0.49 and a minimum of $0.16 throughout 2024. The average price for the year is predicted to be around $0.29.
• Another source predicts the average trading price for 2024 to be $0.63, with a minimum and maximum price of $0.52 and $0.75, respectively.
• A short-term prediction from July 8, 2024, forecasts that ONT will reach $0.1105 in the next 90 days, a 38.8% change from the current price of around $0.1806.
• As of July 17, 2024, the Ontology price is $0.206978, and the Fear and Greed Index is around 40, indicating fear among investors.

Mid-Term Predictions

• For 2025, the ONT price is predicted to rise by around 250% throughout the year. It is expected to trade between a potential low of $0.52 and a maximum of $0.75, with an average trading price of $0.63.
• Another source predicts a slightly lower average trading price of $0.52 for 2025, with a minimum price of $0.3793.
• By 2026, the crypto may have an average trading price of $0.79, with a minimum and maximum price range of $0.65 and $0.93, respectively.
• For 2027, the Ontology price is expected to have an average of $0.99, with a potential minimum of $0.81 and a maximum of $1.17.
• According to one source, ONT could reach $1 by the end of 2025 but will not reach $10 or $100 in the short or mid-term.

Long-Term Predictions

• By 2028, the price of Ontology is anticipated to trade at an average of $1.21, with a minimum of $0.99 and a maximum of $1.43.
• In 2029, the forecasted lowest price could be around $1.26, with a maximum price of $1.81 and an average of $1.53.
• By 2030, the Ontology price is predicted to see a decent recovery and rise. The potential high may be around $2.29, with an average price of $1.94 and a potential low of $1.59.
• One source predicts a much lower average price of $0.9482 for 2030.
• Looking further ahead, by 2035, the Ontology price is projected to reach a maximum of $40, with a minimum of $20 and an average of $30.
• By 2040, the maximum Ontology value could hit $90, with a minimum of $50 and an average of $70.
• In the extended forecast for 2050, the Ontology price is expected to reach a maximum of $190, with a minimum of $110 and an average of $150.

Pros and cons of investing in Ontology

Pros

• Ontology has a solid founder base, with support from members of On Chain, a Chinese firm.
• Ontology has a talented and expert team.
• Ontology has an easy and straightforward algorithm.
• Ontology has a boundless market and user potential.
• Ontology has a unique VBFT consensus model.
• Ontology has performed well in the past, with a growth of more than 500% in early 2021.
• Ontology is expected to grow in the future, with a projected average price of $1.94 in 2030, up from $0.21 in 2024.

Cons

• Ontology's progress may be hindered by its strict country of origin (China).
• Ontology is considered less apt compared to NEO MainNet.
• Ontology faces competition from other smart contract and DApp platforms such as Ethereum and Stellar.
• Ontology is based in a crypto-unfriendly jurisdiction, which may increase the risk of investing.

How to buy Ontology

There are several ways to buy Ontology (ONT), the native currency of the Ontology network. Here is a step-by-step guide on how to purchase ONT:

Choose a Cryptocurrency Exchange:

Select a reputable and secure cryptocurrency exchange that offers ONT, such as Binance or CEX.IO. These platforms provide an easy and convenient way to buy ONT with a variety of payment options.

Register for an Account:

Sign up and create an account on your chosen exchange. You will typically need to provide personal information, such as your name, email address, and password. Some exchanges may also require you to verify your identity by submitting proof of ID and address.

Deposit Funds:

Fund your account by making a fiat currency deposit (e.g., USD, EUR) or by depositing other cryptocurrencies. This will allow you to purchase ONT. Different exchanges may offer different deposit options, so choose the one that suits you best.

Buy Ontology (ONT):

Once your account is funded, you can proceed to buy ONT. Go to the exchange's trading platform and look for the ONT/USD, ONT/EUR, or ONT/BTC trading pairs. Specify the amount of ONT you want to buy, review the total cost, and place your order.

Store Your Ontology Safely:

After purchasing ONT, consider transferring your coins to a secure crypto wallet, such as Ledger Nano X or Trezor Model T. This ensures the safety and security of your ONT holdings, giving you full control over your assets.

By following these steps, you can easily purchase and start investing in Ontology. Remember to do your own research, understand the risks involved, and make informed decisions when investing in cryptocurrencies.

Ontology's collaboration with NEO

Ontology is a closed, private blockchain counterpart to NEO's public, open-source blockchain. Both are projects of the parent company OnChain and are part of the same ecosystem. Ontology is designed to provide a layer of privacy on top of a public ledger.

In 2018, NEO and Ontology announced a partnership to build an open cross-chain platform and establish the foundation for the next-gen Internet. The partnership aims to facilitate the industry's accelerated growth by leveraging the strengths of both parties to introduce an efficient and inclusive interoperability protocol. NEO will focus on developing protocols and components to support a full spectrum of digital assets, while Ontology will continue to build a future-proofed, decentralised identity framework.

The interoperability protocol includes key features such as an eco-friendly approach to member chains, a low barrier of entry, transactional atomicity, and enhanced security.

Ontology and NEO's partnership is expected to usher in a new era of blockchain development and pioneer a collaborative approach to realising the next-gen Internet as part of their smart economy vision.

Despite their close collaboration and shared history, Ontology and NEO remain independent of one another. In fact, Ontology has begun laying the foundations for integrations with other blockchain platforms like Ethereum and EOS. According to Ontology's US Ecosystem Partner, Erick Pinos, the project is preparing on a technical level to integrate with other blockchain platforms. Pinos also raised the possibility that Ontology could integrate with other platforms if NEO doesn't succeed.

While Ontology remains committed to collaborating with NEO, there is a growing sense that Ontology's future may lie outside the NEO ecosystem.

Frequently asked questions