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Each weekend will include at least one cryptocurrency, badet or token whose value increases for no apparent reason. While Ontology is gaining ground on the Binance platform, this alone should not necessarily justify the current rise in the price of ontology. However, it seems that this is exactly what is happening now. There is also some excitement about Version of ontology of gas, known as the NGO.
The price of the ontology climbs rapidly
Starting the weekend with a little surprise is not entirely unusual in the cryptocurrency industry and chips. A new business momentum materializes almost every week, although there is no real reason to do so. As such, many people wonder why the value of Ontology is suddenly climbing like a rocket. It seems that the Binance exchange has something to do with this recently.
In recent hours, the price of ontology has increased by more than 13% in USD and BTC. This last part is not necessarily surprising, but it is obvious that the big dollar gains when bitcoin does not increase is a different story. It is here that this uptrend gains some legitimacy, mainly because the BTC-based increase allows the USD value to rise, not the other way around.
On social media, most discussions about ontology also involve Binance, for whatever reason. ONE Mr. goes so far as to claim that Binance is the determining factor in this price trend. The company is apparently adding exchange pairs from Ontology to Gas, which may generate additional interest for both tokens. Nevertheless, a 13% increase in value based on hype and speculation may not be sustainable over time.
Looks like #ontology #ont will go up before #ONG the gas is listed on @ binance .#bitcoin #cryptos #cryptocurrency @coinbase @Gemini @SatoshiLite @VitalikButerin
– A. M. (@leoldrepublic) February 16, 2019
Sriz echoes very similar statements in explaining how Binance's CEO "apparently plays with NGOs" at the moment. A somewhat strange way to formulate what might be on the horizon for this utility token, although no one can deny that Binance's trading volume for ONT is gaining ground. This is not however the biggest trading exchange for the volume of transactions ONT at the present time.
Looks like you play with #ONG ???, have a good weekend #ont
– sriz (@ sriz16) February 16, 2019
The actual price chart for Ontology seems a bit worrisome. A huge green candle began to form, which usually leads to a steep return. The big gains are almost never maintained in this unstable industry, especially at weekends. It remains to be determined how this will affect the value of the ontology over the next few hours and days. A brief step back would not necessarily be a bad thing to extend the train's duration.
$ ONT EZ#ont pic.twitter.com/c5VZDRt8qi
– Krypto Wave Trader [BULLTARD] (@Kryptowavetradr) February 16, 2019
As is always the case in the industry of cryptography, badets and tokens, weekends are not real trading indicators for the coming week. Everything that happens on Saturdays or Sundays is rarely imitated during the following week. For Ontology, there seems to be a sincere enthusiasm that could last until Monday or even Tuesday. However, the hype can not last so long in altcoins, chips or badets.
Disclaimer: This is not a trading or investment advice. The above article is for entertainment and educational purposes only. Please do your own research before buying or investing in cryptocurrency.
Image (s): Shutterstock.com
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