Orchid (OXT), an open-source trustless cryptographic project offering a new approach to digital privacy with a peer-to-peer and incentivized privacy network, has introduced a markup of about 100% to its value against the US Dollar after the launch of its VPN privacy network.
Orchid aims at building an open-source decentralized and surveillance-free software that makes the internet open to all in a secured manner.
At press time, a unit of the native token of Orchid, OXT, is valued $0.707467 against the USD haven surged by 94% in the last 24 hours according to CoinMarketCap.
Although the cryptocurrency is barely known by people in the crypto ecosystem, it is gradually coming to limelight after getting a surprising support from the US giant exchange Coinbase.
Orchid, since the last two days, has been on the upside trend, profiting its investor with added values. After rising to $0.68 resistance level at the closing hours of the European trading session yesterday, OXT retraced its steps backward but stayed above $0.57 support level.
Afterward, Orchid returned on the rising wedge for another resistance. Ranked 2047, the cryptocurrency has now tested the $0.7 resistance level, its highest figure since creation.
Orchid has a return on investment of 94.57%, and it has a total supply of 1 billion OXT.
The latest rise is coming a few hours after the cryptographic project announced the launch of its VPN privacy network powered by OXT token. Orchid is integrating the VPN privacy network to offers users of the blockchain network more privacy.
Orchid says its users deserve to have a secured VPN that offers privacy solution, hence opted for the release of the update.
Coinbase Lists Orchid (OXT)
On Wednesday 18th Dec. 2019, Coinbase listed Orchid (OXT). The digital currency is now available on Coinbase.com and in the Coinbase Android and iOS apps. After the listing, Orchid tanked by 20%. But a few hours after, the digital currency skyrocket by 25%.
While there are lesser data about Orchid on CoinMarketCap, information available on Etherscan reflects that Orchid as at then has little addresses holding OXT.
At the moment, the total supply of Orchid (OXT) is 1 billion, and there are 537 addresses and 4,987 transfers perfected on Orchid network since creation. At the time of listing, Orchid was not popular despite been created in 2017.