Ontology Gas (ONG) Coin Review & Analysis: Is Ontology Gas (ONG) A Good Investment?

Ontology is a high performance, open-source blockchain specializing in decentralized identity and data, created by Chinese blockchain company OnChain in 2017. The blockchain has two cryptocurrencies ONT and ONG.

In this article, we will introduce the Ontology Gas token ONG.

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Table of Contents

What is Ontology?

What is the ONG Coin?

ONG Utility

Ontology Gas (ONG) Price Prediction

Is Ontology Gas (ONG) a Good Investment in 2024?

How to Buy ONG Coin?

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What is Ontology?

Ontology was created by Chinese blockchain company OnChain, which also created the NEO blockchain. Onchain designs and develops blockchain solutions for businesses with a goal of facilitating the adoption of blockchain technology by businesses.

Ontology, which was launched in 2018, is a high-performance, open-source blockchain focused on decentralizing identity and data. The platform’s unique infrastructure supports robust cross-chain collaboration and layer-2 scalability, offering businesses the flexibility to design enterprise blockchains that fit their needs.

With a suite of decentralized identity and data sharing protocols to enhance speed, security, and trust, Ontology’s features include ONT ID, a mobile digital ID application and DID used throughout the ecosystem, and DDXF, a decentralized data exchange, and collaboration framework.

Since Ontology’s launch, the project has relied on two tokens to protect the network and support its ecology. The two tokens are Ontology Coin (ONT) and Ontology Gas (ONG).

ONT USDT-margined perpetual futures contracts with a leverage of up to 50x are now available on BTCC platform. If you are interested in Ontology Coin (ONT), you can buy ONT by clicking the button below.

What is the ONG Coin?

Cryptocurrency	Ontology Gas
Token	ONG
Price	$ 0.3176 0.55%
Rank	353
Market Cap	$ 120.6M
24H Trading Volume	$ 35.3M
All-time High	$ 4.5925
All-time Low	$ 0.0000
24 High	$ 0.0000
24 Low	$ 0.0000
Cycle High	$ 0.0000 /
Cycle Low	$ 0.0000 /
Update Time	2025-01-21 07:01:01

ONG (Ontology Gas), which can be considered gas on the Ethereum network, is a special Ontology token used to pay for Ontology crypto transactions.

Unlike transaction commissions such as Bitcoin or Ethereum, which are paid in BTC and ETH respectively, Ontology is different. It has a special gas token designed specifically for this purpose.

This method of token separation seems to be more convenient to use compared to the classical method. You don’t have to worry about whether you have enough crypto assets in your wallet to conduct the specific transactions you need, nor do you have to choose between low commissions for long trading hours and high commissions for short trading hours.

It’s all solved in Ontology. There is a fixed Gas fee of 0.05 ONG per transaction. No matter how much ONT you want to transfer, the fee amount will not change.

It is worth mentioning that ONG and ONT coins can be exchanged. ONG is about 5% weaker than ONT. This means that you can exchange 100 ONG for about 95 ONT, or you can exchange 100 ONT for about 105 ONG. This is not an exact exchange rate. Be sure to check the exact exchange rate for your Ontology tokens before exchanging.

ONG Utility

Uses of ONG coins include:

• Transaction fee payment: pay all transaction fees incurred within the Ontology platform.
• Smart Contract Execution: execute the cost of smart contracts developed on the Ontology platform.
• Data storage and management: store and manage data using the Distributed Storage Service (DSS) provided by the Ontology platform.
• Ontology Network Governance: ONG token holders can participate in the governance of the Ontology network and vote on important decision-making processes.

Ontology Gas (ONG) Price Prediction

As of writing the article, ONG is traded at $ 0.3176, boasting a market cap of $ 120.6M, and witnessing a hefty 24-hour trading volume of $ 35.3M. ONG Token saw a 24-hour change of 0.55%, with minor fluctuations of -1.46% in the past hour.

The following sets forth ONG to USD Chart

Ontology Gas Chart

Ontology Gas (ONG) Price Prediction 2024

As for Ontology Gas (ONG) price prediction for 2024, based on in-depth technical analysis of past ONG price movements, it is predicted that Ontology Gas (ONG) would see a minimum price of $0.29 by the end of 2024. Meanwhile, the maximum price is expected to be $0.44, with an average value of $0.37.

Here are the possible price changes we expect for ONG in the next half month:

 Ontology Gas (ONG) Price Prediction 2025

In terms of Ontology Gas (ONG) price prediction for 2025, the forecast indicates that WazirX will reach a minimum price of $ 0.3520. The maximum ONG price is estimated to be $ 0.6188, with the year’s average price hovering around $ 0.5529.

Ontology Gas (ONG) Price Prediction 2030

In terms of long-term price prediction for 2030 on Ontology Gas (ONG), it is projected that Ontology Gas (ONG) would be traded at a minimum price of $ 0.5884. The maximum price could be $ 1.0368, with an average price of $ 0.8841 throughout the year.

Ontology Gas (ONG) Price Prediction 2050

In terms of long-term price prediction for 2050 on Ontology Gas (ONG), it is projected that Ontology Gas (ONG) would be traded at a minimum price of $ 1.2512. The maximum price could be $ 2.3139, with an average price of $ 1.9442 throughout the year.

There is large uncertainty about the future price of Ontology Gas (ONG) token, as the cryptocurrency market changes rapidly. With this in mind, we have made both more bullish and more bearish forecasts for Ontology Gas (ONG) crypto based on a variety of different scenarios.

Is Ontology Gas (ONG) a Good Investment in 2024? 

In terms of its use in real world, the potential of the Ontology network seems to be almost limitless. This is because the blockchain protocol will benefit all business types – especially since it allows for the transfer of data in a secure, transparent, fast and inexpensive way. In general, Ontology provides enterprises with the ability to flexibly design blockchains according to individual needs.

Besides, Ontology will also be able to provide a platform for DApps and smart contracts, which will be supported by the NEO blockchain. Essentially, this opens the door to full automation, meaning that organizations can execute data transactions without the need for third-party verification.

From the price point of view, the price of ONG is very volatile and has not yet risen above the $1. However, given the diversity of projects, which are all promising, ONT and ONG prices may soon rise. Therefore, if you are looking for long-term investment opportunities, ONG seems to be an attractive investment.

However, investors need to study carefully before deciding to join the platform.

How to Buy ONG Coin?

ONG tokens are currently listed on leading centralized exchanges such as Binance, Upbit, Gate, MEXC, etc., where interested users can make a purchase.

Unfortunately, BTCC does not support ONG trading for the time being, but it is worth mentioning that BTCC, one of the longest-running crypto exchanges in the world,  supports trading for 300+ cryptocurrencies with leverage ranging from 1Χ to 500Χ. If you want to start trading cryptocurrencies, you can start by signing up for BTCC.

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About BTCC

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