Ontology has, at least temporarily, surpassed the market cap of its sister project NEO. The coin’s value increased by 54% over the week of Feb. 18, allowing it to gradually creep up on the value of NEO’s total coin supply. Ontology finally overtook NEO just below the $700 million mark based on data from CoinGecko:
Market data is still fluctuating, but this accomplishment could be a good sign for Ontology’s future. The close rankings also raise old questions about the relationship between Ontology and NEO—and questions about whether market cap value is a meaningful measure.
The Ontology-NEO Connection
Cryptocurrencies constantly overtake one another, but NEO and Ontology are a special case. The two blockchains are closely related, as they share a parent company, Onchain. Both NEO and Ontology have asserted that their…