Ontology (ONT) Reaches One Day Trading Volume of $47.23 Million

Ontology (ONT) traded 0.9% lower against the dollar during the 1-day period ending at 21:00 PM Eastern on May 5th. Ontology has a total market cap of $320.15 million and $47.23 million worth of Ontology was traded on exchanges in the last 24 hours. One Ontology coin can currently be purchased for approximately $0.37 or 0.00000570 BTC on major cryptocurrency exchanges. During the last seven days, Ontology has traded 11.9% lower against the dollar.

Here is how similar cryptocurrencies have performed during the last 24 hours:

• Ethereum (ETH) traded up 2.3% against the dollar and now trades at $3,147.88 or 0.04903496 BTC.
• Cardano (ADA) traded up 0.9% against the dollar and now trades at $0.46 or 0.00000713 BTC.
• Avalanche (AVAX) traded 1.2% higher against the dollar and now trades at $37.40 or 0.00058263 BTC.
• NEAR Protocol (NEAR) traded 9.8% higher against the dollar and now trades at $7.38 or 0.00011491 BTC.
• Internet Computer (ICP) traded 2.9% higher against the dollar and now trades at $13.28 or 0.00020688 BTC.
• Uniswap (UNI) traded up 3.1% against the dollar and now trades at $7.61 or 0.00011847 BTC.
• Hedera (HBAR) traded 9.3% higher against the dollar and now trades at $0.12 or 0.00000181 BTC.
• Cosmos (ATOM) traded 8.9% higher against the dollar and now trades at $9.41 or 0.00014660 BTC.
• Cronos (CRO) traded 2% higher against the dollar and now trades at $0.13 or 0.00000208 BTC.
• Fetch.ai (FET) traded 13.6% higher against the dollar and now trades at $2.40 or 0.00003733 BTC.

About Ontology

ONT is a proof-of-stake (PoS) coin that uses the VBFT hashing algorithm. It launched on November 27th, 2017. Ontology’s total supply is 1,000,000,000 coins and its circulating supply is 875,249,524 coins. Ontology’s official Twitter account is @ontologynetwork and its Facebook page is accessible here. The Reddit community for Ontology is https://reddit.com/r/ontologynetwork and the currency’s Github account can be viewed here. Ontology’s official website is ont.io. The official message board for Ontology is medium.com/ontologynetwork.

According to CryptoCompare, “## What is Ontology?

Ontology is a blockchain platform that aims to provide an infrastructure for the development of decentralized applications (dapps) and the integration of various digital systems. It uses a dual token model that consists of the ONT token and the ONG token. The ONT token is the main token used on the Ontology platform, while the ONG token is used to pay for transaction fees and network usage.

Ontology aims to provide a flexible and modular framework for the development of dapps and the integration of digital systems across different industries, such as finance, healthcare, and supply chain management. It uses a combination of smart contracts, identity solutions, and data exchange protocols to enable secure and efficient data sharing and collaboration.

## Who created Ontology?

Ontology was created by a team of developers led by Jun Li, who is also the founder of Onchain, a blockchain development company that has been involved in several blockchain projects in China. The Ontology team includes individuals with backgrounds in blockchain technology, computer science, finance, and other related fields.

## What is Ontology used for?

Ontology is primarily used as a blockchain platform for the development of decentralized applications (dapps) and the integration of various digital systems. The platform aims to enable secure and efficient data sharing and collaboration across different industries and use cases, such as supply chain management, healthcare, and finance.

The ONT token is used as the main token on the Ontology platform and can be used for a variety of purposes, such as staking, governance, and as a means of exchange for services and products offered within the Ontology ecosystem. The ONG token, on the other hand, is used to pay for transaction fees and network usage, similar to gas fees on the Ethereum network.

Overall, Ontology aims to provide a flexible and modular infrastructure for the development of dapps and the integration of digital systems, while using a dual token model to enable efficient network usage and incentivize network participation.

Previously a NEO-based token, the ONT has now launched his mainnet. It will serve as the utility token within the platform.”

Ontology Coin Trading

It is usually not possible to buy alternative cryptocurrencies such as Ontology directly using US dollars. Investors seeking to trade Ontology should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Ontology using one of the exchanges listed above.

ONT/USD price chart by TradingView