OKEx & Binance Announces Support for Ontology [ONT] Token Swap

ONT coin MainNet launch is coming up fast on June 30. The ONT coin team released a notice on token swap while the biggest crypto exchanges Binance and OKEx announced support for its swap. Moreover, Binance added ONT/USDT trading pair providing more liquidity to ONT.

Top crypto exchanges in support of ONT token swap

The mainnet launch of Ontology is fast approaching as scheduled for June 30. This brings us to the most important part i.e. token swap.

The top cryptocurrency exchanges have already announced their support for the upcoming Ontology token migration.

Currently, at the top as per Coinmarketcap, OKEx registered the daily trading volume of $1.6 billion. Today, the exchange made the official announcement.

Binance also announced its support early in the day. It is one of the most popular cryptocurrency exchanges whose past 24-hour trading volume has been $1.3 billion.

But this wasn’t all, along with announcing support for token swap, Binance also provided further liquidity to the ONT token by adding the ONT/USDT trading pair.

Binance also put it on its website with:

“Binance would like to confirm that we will support the ONT Mainnet Token Swap. We will handle all technical requirements involved for all users holding ONT. The swap is scheduled to occur on 2018/06/30. Binance will also distribute the corresponding ONG on a monthly basis to all ONT holders.”

As for the new trading of the new pair, “Binance will also open trading for ONT/USDT trading pair at 2018/06/08 7:00 AM (UTC).”

Also, read: Tron Coin [TRX] Goes Independent Separates Itself From ERC20 Tokens

MainNet ONT token swap notice

The Ontology team further took measures to inform the ONT coin community of the token swap by putting

“MainNet ONT Token Swap Notice”. Talking about the dual token (ONT and ONG) model it uses, “After the launch of Ontology’s MainNet, users will be able to exchange NEP-5 ONT for ONT on the Ontology MainNet, which will start to release ONG periodically.”

The blog talks about two kinds of mapping i.e. automatic mapping for which supporting exchanges will push out the notices and manual method involves using an NEO wallet and ONTO (to be released in July) for swap completion.

Complete information on manual method is provided by the Ontology team on its official blog on medium.

Starting the day from $8.54, ONT price is down by 3.24 percent at $8.21. Currently, at 19th position, ONT coin is in red against BTC but feeling the greens against NEO. It has been pretty up and down movements for Ontology just like any other cryptocurrency.

With the Ontology Mainnet approaching, ONT community is expecting a good surge in its prices. However, given the market sentiments, it is hard to say which way the ONT price will move.

Do you think ONT price will swing upwards dramatically or will maintain its current momentum? Share your thoughts with us!