Ontology future price prediction based on Dapps built on its blockchain
Ontology is the native coin of the ontology network that can be transferred from one smart contract address to another.The second smart contract address receives ontology coin upon the transaction being verified by the validators running the ontology network.In order for the transaction to be validated,the sender smart contract address should pay a gas fee in form of ontology gas.This gas fees will be considered as an income to the validators. Because of this,ontology coin is being considered as a decentralized utility coin asset.As a utility coin ,ontology coin is mostly being used by voters as well as validators. The voters will use their ontology coin to vote for the validators to run the ontology network as well as to secure the ontology network. The validators as well as the voters can either be Dapp owners or non-dapp owners. As Dapp owners,you can use the ontology coin to create and issue the token of your dapp while at the same time you can use the ontology gas to pay for the transaction of the token of your dapp as well as for hosting your dapp on ontology network. Towards the beginning of 2018,ontology conducted its ICO.During that time,one ontology coin was going for $0.2. 4 months later,the price went as high as over $10. Towards the end of 2018,the price drops again to $0.6. Currently,one ontology coin is trading at around $0.6. Since ontology network was created for developers to create their Dapps using several technology languages such as javascript,java,python and C+, it therefore follows that the price of ontology coin is being influenced by several Dapps created on the ontology network. The price analysis of ontology coin based on Dapps built on its network can further be explained as follows;
Dapps built on ontology network
When ontology conducted its ICO in early 2018, one coin was going for $0.2. Within a very short period,the price went as high as $10 and back to $0.6 where it is currently trading at. The increase in price from $0.2 to $10 was due to an increase in mass adoption since many developers were joining the platform to develop on the network where their community members were also following them. The decrease in price back to $0.6 was due to users of several dapps as well as early investors dumping their ontology coin in several exchanges. Therefore,we can say that an increase in the number of developers on the ontology platform will increase the utility function of the ontology coin thus resulting to an increase in its price while a decrease in the number of developers from ontology network to other network due to high transaction cost will result to a decrease in the price of ontology coin since its utility function will also decline. Here are some of the Dapps created on the ontology network that are affecting the price movement of ontology coin;
a.Hypersnake
This is a gaming Dapp where one snake player can compete with other global players and make sure their snake become alive until the end so that they emerge the winner. While playing,the player can be collecting non-fungible tokens which they can convert to ontology coin. Therefore,we can say that as more players continue to join to compete on this game,then the ontology coin will increase its utility function thus its price will increase while if players start to exit the game for other games due to a decline in reward then the ontology coin will decline its utility function thus its price will also decline. You can follow the link from below to start playing the game;
b.Paxos standard
This a a USD pegged stable coin that enables crypto users to be able to convert their crypto to Paxos so that incase of high volatility,then their crypto assets is not affected. Paxos has a high user base. Because of this,the ontology coin can be considered to be very stable as compared to other cryptocurrencies. Therefore,as more users continue to join the paxos standard platform,the utility function of the Paxos will increase thus causing its price to also increase.On the other hand,if users start leaving paxos standard for other stable coin because Paxos is fluctuating so much thus affecting their crypto assets value,then the utility function of ontology will also decline thus causing its price to also decline. You can follow the link from below to join paxos standard platform;
c.ONTDEX
This is a decentralized exchange based on ontology that allows exchanging of tokens created on ontology platform to ontology. If the number of users increases on the ONTDEX platform then the utility function of ontology coin will increase thus causing its price to increase. On the other hand, if users decline in number due to other factors such as high trading fees on the platform,then the utility function of ontology coin will decrease thus its price will also decrease. You can own an account at ONTDEX by following the link from below;
Furthermore, the future price of Ontology coin based on Dapps built on its network can further be explained using its bullish and bearish condition as follows;
1. Bullish market condition for ontology coin based on Dapps built on its network;
When in bullish condition,the ontology coin will be moving in an upward market direction. When an ICO took place,one ontology coin was going for $0.2. The price managed to go as high as $10 after which it dropped back to $0.6. Currently, one ontology coin is trading at around $0.6. The increase in price from $0.2 to $10 was due to an increase in the number of developers to develop their Dapps on the ontology network using several programming technologies such as C+ ,Java and javascript as well as python. This increase in price resulted to an increase in the utility function of ontology coin since most developers started to hold their ontology coin so that they can earn the ontology gas. In the near future,if more developers will continue to join the ontology network to develop their Dapps over there,then the price can further continue to increase. In one year time from now,the price of one ontology coin can go as high as $2. The price analysis of ontology coin is being indicated as from the candlesticks chart below;
From the price analysis of ontology coin above,two points are being indicated. There is point A and point B. Before point A, ontology coin can be seen to rising in price all the way to $0.6300. This increase in price has been due to an increase in the number of developers to develop their Dapps on the ontology platform thus increasing the utility function of the ontology coin. This increase in its utility function caused many developers to purchase the ontology coin in several exchanges so that they can hold it while using the ontology gas to pay for fees. This resulted to inefficiency in ontology coin thus causing its price to go all the way to $0.6300. Some developers as well as users of several Dapps then dump their earned ontology coin in several exchanges thus causing its price to fall a little bit downwards to point A at $0.6100. More developers then join the ontology network to develop over there thus further increasing the utility function of the ontology coin thus causing its price to rise again to point B at above $0.6300. In one year time,if more developers will continue to join the ontology platform due to favorable condition such as high monetization of their Dapps over there,then the price will further continue to rise. In one year time,there is possibility of the ontology coin price to go as high as $2. This is the right time for investors to purchase ontology coin and hold them until one year time is over so that they profit from it.
2. Bearish market condition for ontology coin based on Dapps built on its network;
When in bearish condition,the ontology coin will be moving in a downward market direction. When an ICO took place,one ontology coin was going for $0.2. The price managed to go as high as $10 after which it dropped back to $0.6. Currently, one ontology coin is trading at around $0.6. The increase in price from $0.2 to $10 was due to an increase in the number of developers to develop their Dapps on the ontology network using several programming technologies such as C+ ,Java and javascript as well as python. This increase in price resulted to an increase in the utility function of ontology coin since most developers started to hold their ontology coin so that they can earn the ontology gas. In the near future,if the gas fee will be increased in the ontology network,then the revenue of different dapps will also be affected. This will cause many developers to start looking for other network will less gas fees thus causing their community members to also shift together with them . This will result to a decline in the utility function of ontology coin thus causing its price to also decline. In one year time,if the transaction fees will further be increased,then more developers will also continue to exit the ontology network for other blockchain network. If this is bound to happen,then there is possibility of the ontology coin to decline to as low as $0.4 in one year time though i don't think it can happen.The ontology price analysis is indicated from below;
From the price analysis of ontology coin above,two points are being indicated. There is point A and point B. Before point A, ontology coin can be seen to be declining in price all the way to $0.6100. This decrease in price has been due to a decrease in the number of developers from the ontology network for other blockchain network where they shift together with their community member thus declining the utility function of the ontology coin.Because of this,ontology coin becomes in surplus on its blockchain network thus causing the price to fall all the way to $0.6100. Some developers then purchase the ontology coin in several exchanges so that they can use it for several function such as staking and issuing the token of their dapps. Because of this,the price of ontology coin slightly rises to point A at $0.6300. Ontology network further increases the transaction cost on their network thus causing the revenue of several Dapps on their platform to decline. This forces more developers to exit the ontology network and look for better blockchain platform with lower transaction fees in order to increase the revenue of their Dapps.Because of this,the utility function of ontology coin further declines thus causing its price to fall again to point B at below $0.6100. In one year time, if ontology network will further increase the transaction cost in their network, the monetization of several dapps will also decline thus forcing them to exit the network thus further declining the utility function thus declining the price further. If this is bound to happen,then the price can go as low as $0.4. Holders of ontology coin can sell them at $0.6 if this is bound to happen.
Summary
In early 2018 when ontology conducted its ICO,one ontology was going for $0.2 The price then rises all the way to $10 but later falls to $0.6. The increase in price was due to increase in number of developers to develop on the ontology network while the decrease in price was due to dumping of ontology by users and early investors in order to profit from its high rise price. Therefore,we can say that an increase in the number of developers on the ontology network will result to an increase in the utility function of the ontology coin thus causing its price to increase.On the other hand, a decrease in the number of developers from the ontology network due to high transaction cost will result to a decrease in the utility function of the ontology coin thus causing its price to also decrease. We can further conclude that ontology network has high potential since different programming technologies has been implemented there. The future of ontology coin is therefore bright.
You are always free to support our work from below;
skrill donation:mudigoomondi@gmail.com
Neteller donation:mudigoomondi@gmail.com
Bitcoin:3AFeiwUp6erj2iRBmdsnc7YhC7gcYVD6oj
Ethereum; 0x346570c491b76c7cd51699bdd272762111b743a9
Litecoin: LeEH7B82ccXJ6QoibCryGJNpDGNx2x77fL
Dogecoin: DLShs2vqhMc1ggqo8MPPMBTcPAZdqCZoWd
lightning network:tipping.me:https://tippin.me/@quintomudigo