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The Ontology price jumped 26% in the last 24 hours to trade at $0.4565 as of 3 a.m. EST on trading volume that skyrocketed 382% to $380 million.
Ontology’s price surge came soon after the project announced the launch of a $10 million initiative to revolutionize Decentralized Identity (DID). It also invited users to dive into its tech tutorials and integration opportunities and delve deep into DID educational materials.
🌟 Exciting news, #Ontology!
We're launching a $10M initiative to revolutionize #DecentralizedIdentity!
🚀 Dive into #DID education, tech tutorials, & integration opportunities. Get involved & shape the future of digital identity!
➡️ https://t.co/hx9fD7sQ6P #ONTID 🌐 pic.twitter.com/vr5TW8gA9W
— Ontology #BUIDL4Web3 (@OntologyNetwork) April 22, 2024
ONT is also the top weekly gainer among the biggest 100 cryptos with a 43.2% increase in the past seven days, according to CryptoBubbles.
The altcoin’s weekend surge may have come from other announcements made on April 19, including unveiling key insights from Paris Blockchain Week 2024, launching a giveaway with Lovely Wallet, and reaching its own major milestones in development.
🚀 This week at #Ontology:
Unveiling key insights from #PBW2024, launching a giveaway with @lovely_wallet, and achieving major milestones in development! 🌐
Dive into our latest weekly report:https://t.co/nva1gQRE6z pic.twitter.com/8oDiFDs0a6
— Ontology #BUIDL4Web3 (@OntologyNetwork) April 19, 2024
Ontology Price Prediction
The Ontology price soared over the last 24 hours, but right now, traders are wondering whether the project has the potential to go even higher, or if this is where its surge will end. This is why many are turning to technical indicators for hints of what is to come.
For example, the project’s Bollinger bands have suddenly narrowed, which is a bearish signal that suggests an upcoming price drop.
At the same time, Ontology’s Relative Strength Index (RSI) value has reached the overbought zone in the past few hours, and is now rapidly descending. Previously, the RSI value went up to 69.59, but at the time of writing, it is descending toward 60.
Both of these signals suggest that the token will see a correction in the hours to come. However, traders should keep in mind that there is no guarantee that the price will correct. The broader market sentiment could also have a great impact on what will happen next, and with many cryptos currently trading in the green, ONT might see only a slight correction before bouncing back up.
In other words, the traders’ behavior will affect what will happen next. With that said, those who make their moves based on technical indicators could potentially see the same signals and decide to take profit, thus knocking the price down in the hours to come.
Promising Alternative to Ontology
While Ontology brought great returns to its holders over the last week, there are other alternatives worth considering.
Many seek shelter from volatility by going after cryptocurrencies that are still in presale, but with great future potential. One such project is eTukTuk (TUK), a project that aims to help revolutionize sustainable transport in developing nations.
eTukTuk combines electric vehicles, blockchain technology, and Artificial Intelligence to deliver AI-powered Tuk Tuks that can improve not only traffic conditions but also reduce the users’ carbon footprint.
Its goal is to deliver its product to developing nations first, and then to countries worldwide. Its idea is to build the charging infrastructure of tomorrow and power it with blockchain.
📢📢 EXCITING ANNOUNCEMENT 📢📢
We are thrilled to announce that our awaited game, Crazy Tuk Tuk taxi is now also available on the App store 🤩
Complete quests, earn rewards and compete in thrilling races 😎
Download now:https://t.co/E2rb7J8r2e pic.twitter.com/XXgV8Wgz0Y
— eTukTuk (@eTukTukio) April 21, 2024
Apart from just the TUK token’s potential for growth, users can also buy and stake it for 87% annual rewards.
The project is also launching a Play-To-Earn (P2E) game in which players race round the streets of Sri Lanka while picking up and dropping off customers who need to be somewhere fast. The quicker you drive, the more you’ll earn.
The TUK token recently blasted through the $3 million milestone in funds raised, which now stand at more than $3.14 million, and counting.
The project’s TUK token sells for only $0.0305, and can be bought with ETH, BNB, USDT, or credit/debit card. There will be a price increase in a little more than eight days, so buy soon if you are interested in the project.
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