ONG/USDT Analysis (TECHnical AND FUNDamental)
What is 🌟Ontology Gas🌟?
Ontology gas (ONG) is one of 2 crypto assets that power the Ontology blockchain, a business-focused, high performance (can handle many transactions at once) blockchain that focuses on solving problems like identity security and data integrity (accuracy and consistency of data).
Ontology gas came into existence on June 30, 2018, when the Ontology project launched its mainnet, or transitioned from using another blockchain (NEO) to its own native blockchain.
❇️What is Ontology Gas Used for?
In the Ontology ecosystem, Ontology coin (ONT) gives ONT holders two things:
---1 Governance rights - have a say in things like changes to the network
---2 Staking rewards - by staking, or locking up, your ONT, you contribute to the security of the network by helping verify transactions. In return, the network grants you ONG
On the other hand, you can think of Ontology gas as a “toll fee” to use the Ontology “highway” or network. In this way, it’s similar to gas on Ethereum. But instead of paying in the main cryptocurrency, ONT, like you would with Ethereum (paying in ETH), the Ontology network makes you pay for network usage (e.g. making a transaction) using a separate token (ONG).
As mentioned, staking ONT grants ONT stakers ONG rewards. This means that ONG presents an interesting opportunity, even if you don’t use the Ontology platform for its intended use cases like identity security.
By staking ONT, you can earn “passive” ONG income for your part in securing the network (even if you don’t use it for anything other than staking rewards).
Indeed, the rewards aren’t too bad - according to ONTCalc, an ONG rewards calculator, you can expect your yearly “interest” rate, or percentage of ONG you earn on your ONT, to be ~4%.
Compare that to your average US bank savings account interest of 0.06% (in other words, ONG pays ~67x more per year), and that’s not a bad use of your money. Especially when you consider that:
1.ONT is a top 25 crypto by market capitalization (a crypto’s price multiplied by its circulating, or usable, supply)
2. The company behind the Ontology project, Onchain, is also the same company behind NEO, a top 20 cryptocurrency
3.Onchain was named one of KPMG’s (one of the Big Four accounting firms) top 50 Chinese fintech companies
4. Onchain has worked on blockchain solutions for Alibaba (Chinese Amazon.com)
5. ...and more
All in all, using ONT to generate ONG is a nice way to earn extra money with your crypto.
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❇️Quick Technical Analysis
As you can see in the logarithmic chart above, ONG has formed a cup pattern and may or may not complete its handle. In this case, there is a better opportunity to buy step By step in several times, but according to this bullish market condition , it is possible at any moment in an aggressive and explosive move, to reach resistance at $ 0.67 and $ 1.20 & then then 4$, respectively. Then for up to two months OR more , we can even see incredible growth of up to about 3,000% or more Which will surprise us ! But keep in mind that this market is a possibility but also these growths are not out of reach and stranger for those who have worked in this market.
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
Ontology gas (ONG) is one of 2 crypto assets that power the Ontology blockchain, a business-focused, high performance (can handle many transactions at once) blockchain that focuses on solving problems like identity security and data integrity (accuracy and consistency of data).
Ontology gas came into existence on June 30, 2018, when the Ontology project launched its mainnet, or transitioned from using another blockchain (NEO) to its own native blockchain.
❇️What is Ontology Gas Used for?
In the Ontology ecosystem, Ontology coin (ONT) gives ONT holders two things:
---1 Governance rights - have a say in things like changes to the network
---2 Staking rewards - by staking, or locking up, your ONT, you contribute to the security of the network by helping verify transactions. In return, the network grants you ONG
On the other hand, you can think of Ontology gas as a “toll fee” to use the Ontology “highway” or network. In this way, it’s similar to gas on Ethereum. But instead of paying in the main cryptocurrency, ONT, like you would with Ethereum (paying in ETH), the Ontology network makes you pay for network usage (e.g. making a transaction) using a separate token (ONG).
As mentioned, staking ONT grants ONT stakers ONG rewards. This means that ONG presents an interesting opportunity, even if you don’t use the Ontology platform for its intended use cases like identity security.
By staking ONT, you can earn “passive” ONG income for your part in securing the network (even if you don’t use it for anything other than staking rewards).
Indeed, the rewards aren’t too bad - according to ONTCalc, an ONG rewards calculator, you can expect your yearly “interest” rate, or percentage of ONG you earn on your ONT, to be ~4%.
Compare that to your average US bank savings account interest of 0.06% (in other words, ONG pays ~67x more per year), and that’s not a bad use of your money. Especially when you consider that:
1.ONT is a top 25 crypto by market capitalization (a crypto’s price multiplied by its circulating, or usable, supply)
2. The company behind the Ontology project, Onchain, is also the same company behind NEO, a top 20 cryptocurrency
3.Onchain was named one of KPMG’s (one of the Big Four accounting firms) top 50 Chinese fintech companies
4. Onchain has worked on blockchain solutions for Alibaba (Chinese Amazon.com)
5. ...and more
All in all, using ONT to generate ONG is a nice way to earn extra money with your crypto.
--------------------------------------------------------------------------------------------------------------------
❇️Quick Technical Analysis
As you can see in the logarithmic chart above, ONG has formed a cup pattern and may or may not complete its handle. In this case, there is a better opportunity to buy step By step in several times, but according to this bullish market condition , it is possible at any moment in an aggressive and explosive move, to reach resistance at $ 0.67 and $ 1.20 & then then 4$, respectively. Then for up to two months OR more , we can even see incredible growth of up to about 3,000% or more Which will surprise us ! But keep in mind that this market is a possibility but also these growths are not out of reach and stranger for those who have worked in this market.
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
