Currently, one Ontology Gas (ONG) coin is worth $0.375760 USD.
Ontology Gas (ONG) is an essential utility token within the Ontology blockchain ecosystem, primarily used to pay for network services, transaction fees, and to reward participants for staking and governance. Its value fluctuates based on various market dynamics, much like other cryptocurrencies.
Understanding Ontology Gas (ONG)
ONG serves as the "gas" or fuel for the Ontology network. This means it is consumed when users perform operations such as:
- Executing smart contracts
- Performing transactions
- Utilizing decentralized applications (dApps) built on Ontology
Additionally, ONG is distributed as a reward to ONT token holders who stake their tokens, contributing to the network's security and decentralization. This dual utility as a fee token and a reward mechanism underpins its value proposition.
Current Market Snapshot of ONG
The live price of Ontology Gas can change frequently due to the dynamic nature of the cryptocurrency markets. As of the latest available data, key metrics for ONG include:
| Metric | Value |
|---|---|
| Current Price | $0.375760 USD |
| 24-Hour Trading Volume | $5,621,921 USD |
Please note: Cryptocurrency prices are highly volatile and can change rapidly. The values presented here reflect a specific point in time.
Factors Influencing ONG's Price
Several factors contribute to the price fluctuations of Ontology Gas:
- Overall Cryptocurrency Market Trends: The broader sentiment and performance of the crypto market, particularly Bitcoin, often influence altcoins like ONG.
- Ontology Network Adoption and Usage: Increased activity on the Ontology blockchain, such as more transactions, dApp usage, or smart contract executions, directly increases the demand for ONG as gas.
- Development and Upgrades: Positive developments, partnerships, or significant protocol upgrades within the Ontology ecosystem can boost investor confidence and demand for ONG.
- Supply and Demand Dynamics: As ONG is also a reward token, its issuance rate, combined with the demand for network services, plays a crucial role in its valuation.
- Exchange Listings and Liquidity: Availability on major cryptocurrency exchanges and robust trading volumes contribute to its accessibility and price stability.
Tracking the Live Price of ONG
For the most up-to-date and real-time pricing information for Ontology Gas, it is always recommended to consult reputable cryptocurrency data platforms. These platforms provide live charts, market capitalization, trading volumes, and historical data, allowing users to monitor ONG's performance dynamically.
Example of a reliable source:
Understanding the utility and market dynamics of Ontology Gas helps in comprehending its current worth and potential future value within the digital asset landscape.
