Perhaps you have heard of the Ontology network, a coin that is similar to NEO in many respects. ONT is a coin from chinese devs that has the connections necessary to satisfy the evolving demands of government agency. This is not like TRX. With clear signs from Chinese government indicating a belief in the value of Blockchains becoming 10x greater than the internet it signals how big blockchain might become for china... The nation who bans cryptocurrency whilst signaling to become an important player in the blockchain economy. Perhaps they are looking to use ONT as part of their Social Credit System?
Binance Announces an ONT/USDT pairing
By now it should be clear that Binance is increasing their USDT pairings fairly regularly. With this, plus their introduction of another stable coin TUSD (if anything is confusing about this stop by the Ninja Discord and we can explain it to you), we can see that Binance has an agenda for fiat territory despite currently being a crypto only exchange.
ONT is the newest coin for Binance USDT pairing. What does this mean for a coin exactly? It is difficult to predict how the price might change but what we can note for sure is the increased exposure of ONT. Also, Binance has confirmed that they will be assisting in the facilitation of the transfer for the mainnet token.
Main Net Launch Approaches
ONT has experienced great price action over the last 3 months and is currently hovering around 11k sats... This is prior to having any real product yet and still being a NEP-5 token. Make no doubts though, the ONT team is strong and well connected, and on the short term i do see success with their project. They have been regularly putting out developments and this month they are going to launch their Main Net which can potentially be a rewarding venture along the same lines of NEO.
Holding ONT Generates ONG.
ONT is similar to NEO in that services that will take place on the ONT network will be powered by ONG. Holding ONT allows you to occasionally produce ONG tokens, which you can trade on the market as well. The coin will not be generating ONG until the launch of the mainnet this month (6-30-18).
How do you think the price action of ONT will playout over the next few days? Come check out our Tradingview and let us know.
HDP "Sensei" - Altcoin Ninjas