This Top-20 Crypto Token Surged 50% to Crush the Bitcoin Rally
While Bitcoin has commandeered the spotlight following its massive rally, one top-20 cryptocurrency has surged even higher over the past week. | Source: Shutterstock
By CCN: While Bitcoin has commandeered the spotlight following its massive rally, altcoins don’t want to stay entirely aloof from the bullish craze. Ontology (ONT) ranked among the crypto market’s best performers over the past week.
Ontology’s bullish explosion began on May 10, when the cryptocurrency surged from just $0.99 to a high of $1.52 today. Thus, ONT has rallied over 50 percent in less than six days, exceeding Bitcoin’s gain of 33 percent for the same period.
While it is true that Ontology has dramatically benefited from the Bitcoin rally and the general bullish mood in the crypto market, it released several announcements that might have pushed the price up even further.
Triones Node Applications Are Open
On Friday, the Ontology team opened the third round of the so-called Triones node applications, which encourages participation in the blockchain network’s Triones consensus system, launched earlier this month. The latter leverages the VBFT consensus algorithm and utilizes a governance model that focuses on decentralization, high-performance expansion, and incentives.
— Ontology (@OntologyNetwork) May 10, 2019
The 49 most active ONT holders receive significant incentivizes, while nodes below the top 49 will receive ONG from transactions fees only. For those unfamiliar,