Ontology (ONT) Reaches 24-Hour Volume of $166.31 Million

Ontology (ONT) traded 0.9% higher against the US dollar during the 24-hour period ending at 13:00 PM ET on April 29th. Ontology has a total market cap of $341.43 million and $166.31 million worth of Ontology was traded on exchanges in the last day. One Ontology coin can now be purchased for $0.39 or 0.00000618 BTC on major exchanges. During the last week, Ontology has traded down 15.9% against the US dollar.

Here’s how similar cryptocurrencies have performed during the last day:

• Ethereum (ETH) traded down 4.3% against the dollar and now trades at $3,175.24 or 0.05032572 BTC.
• Cardano (ADA) traded down 2.8% against the dollar and now trades at $0.46 or 0.00000722 BTC.
• Avalanche (AVAX) traded up 0.4% against the dollar and now trades at $35.02 or 0.00055508 BTC.
• NEAR Protocol (NEAR) traded 5.7% lower against the dollar and now trades at $6.78 or 0.00010745 BTC.
• Internet Computer (ICP) traded down 1.7% against the dollar and now trades at $13.50 or 0.00021392 BTC.
• Uniswap (UNI) traded down 3.9% against the dollar and now trades at $7.65 or 0.00012127 BTC.
• Hedera (HBAR) traded 3.2% lower against the dollar and now trades at $0.10 or 0.00000164 BTC.
• Cronos (CRO) traded 0.9% higher against the dollar and now trades at $0.13 or 0.00000207 BTC.
• Cosmos (ATOM) traded 2.2% lower against the dollar and now trades at $8.14 or 0.00012907 BTC.
• Fetch.ai (FET) traded 5.2% lower against the dollar and now trades at $2.14 or 0.00003384 BTC.

Ontology Coin Profile

Ontology is a proof-of-stake (PoS) coin that uses the VBFT hashing algorithm. Its genesis date was 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. The official message board for Ontology is medium.com/ontologynetwork. Ontology’s official website is ont.io.

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.”

Buying and Selling Ontology

It is usually not currently possible to buy alternative cryptocurrencies such as Ontology directly using US dollars. Investors seeking to acquire Ontology should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. 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