This afternoon we are seeing some really bold movements from Ontology and ONT. Before we begin, let me trace Ontology back a few steps, so we can start to appreciate just how impressive the latest ONT run is. On the 25th of April, ONT was valued at around $4.30, after some positive movements after this, ONT did break through $7.00, hitting a low point of $7.35 on the 29th of April. Since then, with guidance from a healthy market, ONT has managed to breach $8.00 through this week. Importantly, during the early hours of this morning, we saw ONT leap from $8.55 to $10.71 in just a matter of hours. This huge gain seems to have coincided with an official announcement from the Korean cryptocurrency exchange, UPbit, which will now be listing ONT.
At the time of writing, ONT is valued at $10.08 and is up 19.53%. Presently, it is ranked 28th in terms of market capitalisation with a market cap of $1,135,104,794. Evidently, the new UPbit listing has caused a bit of a stir within the Ontology community, given that the currency has taken such a huge leap in value over in such a short space of time. Since the spike, ONT has experienced a small level of correction but, overall, we have seen ONT recover from this as the currency continues to make big, positive gains. Perhaps we will see ONT hit $12.00 this weekend, although for now, we will have to see how this hype pans out, before we can really make sturdy predictions for the value of ONT going into this weekend.
Won Market New Listing : $ONT / KRW— UPbit Translator (@UPbitExchange) May 3, 2018
The huge spike in the value of ONT could have something to do with this tweet from UPbit, prior to the official listing announcement. In the tweet, UPbit state that today, they will donate 5% of their ONT holdings to UPbit customers who hold ONT at the time of snapshots. They place a cap of 1,000 ONT per customer and state that if coins are sold or withdrawn, customers wonât be eligible for this pay out. This is an interesting ploy, either way it does seem to have sparked an interest in Ontology investment within the UPbit exchange. I suspect this has been designed simply to kickstart UPbitâs affiliation with Ontology, but indeed, if this is the case, then it really does seem to have worked quite well. As we can only see Ontology growing from here, keep an eye out on how the currency performs over the weekend. $12.00 lays out a very healthy figure for ONT and hopefully, following a good week and this new incentive, we can see Ontology come within reach of this. This is of course not investment advice and the trends we see could very well be all but a coincidence. If you are thinking of investing, it is essential that research is carried out prior to making any moves. Trade safe!
Thursday 23:00:00 (KST) #Upbit will give 5% of $ONT holdings to customers who hold ONT coins at the time of the snapshots. Maximum Payout is 1,000 ONT weekly up to 125,000 ONT per week. If coins are sold or withdrawn, accounts will not be eligible for payouts. @OntologyNetwork— UPbit Translator (@UPbitExchange) May 3, 2018