In a comparatively stable market set-up, Ontology (ONT) demonstrated a steady rise in the last two weeks following its recent partnership with Shufti Pro. In early October 2018, Ontology Network announced a partnership with Al-enabled website Shufti Pro to offer its customers with the Ontology blockchain-based compliance-ready Know Your Customer (KYC)/ Anti-Money Laundering (AML) solutions.
Details of the Ontology Shufti Pro Partnership
This partnership appears to have excited crypto traders and investors, with the token gaining by almost 8%, as the partnership aims to enhance the trust ecosystem of the digital currency. ONT rose to as high as $2.15, its best hit since mid-September 2018.
The virtual identity-based services that will be offered under this collaboration will improve accessibility to markets, which are considering extra ways to attract more clients to regulated industries.
“We believe that the combined use of new and innovative blockchain technology with cutting-edge ID and identity verification technology is a powerful combination for global business operations,” said Shufti Pro CEO Victor Fredung.
Ontology is steadily making progress in advancing its identity authentication, which enables customers to create the multi-factor identities that they can validate and use.
“The emergence of blockchain technology creates opportunities across to discover potential and promising solutions,” said Andy Ji, the co-founder of Ontology.
Ontology’s market capitalization currently stands at $356.24 million, according to the CoinMarketCap data, making it the 25th most valuable digital currency.
Ontology’s Latest Updates
The company recently teamed up with 4Stop, a KYC compliance service provider. The partnership is all about offering virtual identity services, which will assist ONT’s protocol to leverage the KYC services of 4Stop. Besides, Ontology collaborated with the TOP Network to create a communication network ecosystem at the blockchain application level last month.
Nevertheless, the establishment has not restricted itself to KYC services alone with its blockchain. In September 2018, it teamed up with Muzika, a blockchain company that strives to decentralize the music sector. The partnership is projected to initiate wider acceptance and eradicate intermediaries in online businesses.
ONT’s Price Analysis For The Last One Week
Ontology was valued at 1.4% less against the US dollar during the 24-hour period ending on 9:00 AM Eastern on October 26th. The coin has a total market capitalization of $356.24 million and almost $15.82 million worth of ONT was traded on crypto exchanges in the past 24-hours. Last week, ONT was valued 5% less against the US dollar. One ONT coin is currently valued at $1.72 or 0.00026702 BTC on big exchanges like Koinex, and OKEx.
ONT Price Prediction 2018, 2020
WalletInvestor projects that Ontology will be valued at $5.04 by the end of 2018. Their prediction further highlights that the coin will, however, not reach $10 in a year.
Trading Beasts were also not left behind in projecting the price of ONT. They predicted that the coin would be valued between $2.90 to $4.27 before 2018 ends. The company further stated that by the end of 2020, ONT would be valued between $518.89 to $763.07.
Lastly, Coin Switch predicted that ONT would be trading at $33.5 by October 2019, and $137.6 after five years.