Ontology (ONT) once entered the market with great fanfare as a domestic star public chain, claiming to build a distributed trust cooperation platform to achieve core functions such as cross-chain interaction and decentralized identity authentication, and was once highly anticipated by many investors.

In the early stages of the project, the team relied on intensive industry summits, a large amount of media publicity, and the release of positive news about reaching cooperation intentions with multiple enterprises to crazily raise market expectations. Under the marketing offensive, the price of the ONT token soared sharply within a short period, attracting a large number of retail investors to follow suit.

However, after the noise, there was nothing but illusion. The grand blueprint described in the white paper has yet to be realized, the progress of core technologies such as cross-chain interconnectivity is slow, and there are very few ecological applications after the launch, leading to a complete lack of actual value support for the project.

Even more fatal is that a large number of tokens reserved by the project team were unlocked in batches after the lock-up period ended, and the team and early institutions took the opportunity to sell at high prices, triggering a cliff-like drop in the token price.

After that, the price of the ONT token continued to decline, dropping more than 90% from its historical high, remaining in a state of being below par for a long time, and the once lively community gradually fell silent, with retail investors deeply trapped in their positions, with little hope of breaking even. This “over-marketing + technological stagnation + unlocking crash” scheme has also become a typical harvest case in the cryptocurrency circle.