$ONG Steals an ONG coin (Ontology Gas) — the operating fuel for the Ontology network dedicated to digital identity and data — with lights in the crypto market driven by violent price movements and record trading volume spikes. This sharp volatility comes on a pivotal network day expected to restart its software infrastructure.
Top event today: Full split (MainNet v3.1.2)
The Ontology network has carried out a full split (Hard Fork) at block number 20,800,000.
Compatibility with Ethereum (EVM): incorporating new, efficient operational commands (Opcodes) such as PUSH0, BASEFEE, and MCOPY, making it easier to move smart applications from Ethereum to the Ontology network with minimal data size and excellent gas fees.
Platform deposit pauses: major exchanges such as Binance and Upbit announced temporarily suspending deposits and withdrawals for the Ontology network to facilitate the upgrade process, leading to a temporary reduction in available liquidity in the spot market.
Price jump and liquidity challenges
The combination of technical upgrades with temporary liquidity shortages on exchanges led to sudden spikes:
Price performance: during the day, the coin traded at levels multiple times higher, rising from near-chain lows around $0.04 to areas touching $0.09–$0.12 on some exchanges, with daily gains exceeding 90% at the peak of the rally.
$ONG #Ong #ONGCOIN #ONG/USDT
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