On March 8, Binance cryptocurrency exchange announced the listing of Ontology tokens with ONT/BTC, ONT/BNB, and ONT/ETH trading pairs. At press time, ONT/BTC is around the 16k Sats range, amounting to almost $1.62.
In the beginning of its trading, ONT’s price was around 22k Sats, rising to a maximum of 100k before dropping as low as 11k.
Typical to the news coins is that the price discovery happens in stages, usually starting high and then dropping low as the originals holders sell off in bulk for gains. Now when the majority of sell-offs has already realized, the coin is expected to find a floor and ceiling, and experience organic price movements.
ONT tokens were freely distributed from October 2017 to January 2018, given out in rewards events, with newsletter subscribers getting 1,000 tokens. The total supply of ONT is set at 1,000,000,000 tokens and more coins will be distributed in Q2 2018, after the ONT Mainnet goes live.
Earlier this month, NEO Council, which also received 10% of ONT tokens as technology and ecosystem partners, decided to airdrop their share to NEO holders. Nevertheless, as the airdrop ratio was 1: 0.5, only the 50% of the ONT tokens were received by NEO holders with the other 50% to be distributed after the Mainnet launching.
Ontology Network, as a project, appears to urge the spirit of Blockchain technology, focusing on decentralization, by allowing the creation of distributed identify verification systems, data exchange, collaboration tools, and other modules aimed at benefiting communities.
The listing of ONT from Binance may be followed by other major exchanges. This could lead to price appreciation as the Mainnet launch is close.