Cryptocurrency Market Update: Mainnet Momentum Moves Ontology (ONT)

FOMO MomentsCurrent performing altcoins are Ontology, Ethereum Classic, Zcash and Zilliqa.

The good news for today’s crypto market update is that nearly all coins are in the green at the moment. The not so good news is that gains are minimal at best. Total market capitalization has remained above $250 billion and inched up a little, with Bitcoin gaining 1.75% on the day to trade at $6,280. Ethereum has made a marginal gain of 1.5% to trade at $460 which is still very low. Altcoins are all gaining but mostly below 5%, one that is performing much better during Asian trading is Ontology.

Coinmarketcap is currently reporting a 9% climb for ONT which took a big hit during Sunday’s yearly low. Ontology is currently trading at $5.63 which is up from the $5.09 it was at this time yesterday. Over the week however the token is down over 14% from $6.57 this time last Tuesday. Monthly losses have been a similar 14% since ONT was trading at $6.60 this time last month but peaked at $8.87 on June 7. Since that high it has lost 36%. Against Bitcoin ONT is up 7% on the day to a touch below 90000 satoshis from 82800 sats this time yesterday. Over the week however ONT has lost 7.8% against BTC falling from 97600 satoshis this time last week.

Ontology is gearing up to its mainnet prelaunch by holding an event in San Francisco and token swap guidelines have recently been released by the team.

We’re holding our MainNet pre-launch in San Francisco tomorrow. For those who didn’t manage to get a ticket in the lucky draw, the event will be filmed and published online after for all to see. We look forward to our MainNet transition this week with you! $ONT

— Ontology (@OntologyNetwork) June 25, 2018

Ontology’s mainnet will go live on June 30th, after the release all NEP-5 ONT tokens must complete mapping to migrate to the new blockchain. There will be a three month window to complete this process.

Binance currently dominates ONT trade with over 50% of the total volume however this will slow down for a few hours while the exchange carries out planned maintenance. Over the past 24 hours Ontology trade volume has remained stable at around $123 million. Market cap is currently $850 million ranking this token at 19th spot.

Total cryptocurrency market capitalization stands at $256 billion which is up around 2% on the day. The recovery, if this is it, is a slow process at the moment. Trade volume has increased from $15 to $19 billion which is a positive sign. Other altcoins recovering nicely at the moment include Ethereum Classic up 6.2%, Zcash 6% higher on the day, Zilliqa climbing 9.5%, and Bitcoin Gold which is 7.5% higher. Further down the list Golem and Populous are both gaining double digits at 17%.

More on Ontology can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.

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