Orchid (OXT) is one cryptocurrency completely in the green today. The digital currency saw a massive 22% upsurge hours after Coinbase announced it has listed the cryptocurrency.
When Coinbase first made the announcement, Orchid (OXT) lost nothing less than 25% of its value, and was changing hands at $0.251.
Information from Orchid’s block explorer on Etherscan indicates that OXT is being held by 250 addresses. As indicated on Coinbase, Orchid has a trading volume of is 2.5 million OXT.
Per information on CoinMarketCap at press time, Orchid is trading at $0.336317 USD after rising by 22.80%. The digital currency has a market cap of $1,093,745 and stays in the 2050 position on the table.
Although Orchid appears unpopular before Coinbase listed the digital currency, in fact, there is less information about the digital currency on CoinMarketCap, however, not many know the reasons behind Coinbase’ decision to list the digital currency.
Meanwhile, from now on, Coinbase Android and iOS app, and Coinbase.com users can store, receive, convert, sell and trade Orchid (OXT), a blog post by Coinbase has shown.
The digital currency is available for users resident in Coinbase-supported regions, except New York.
Orchid was founded in 2017 with the intent to make the internet more accessible and open to all.
The network offers a decentralized VPN service that links individual internet users to a large pool of bandwidth providers across the world, Orchid’s whitepaper states.
It is these providers that have the power to stake Orchid tokens and divide the available bandwidth. These providers act as network nodes.
Orchid, an open-source network, aims to eliminate centralization while rewarding network contributors and uses the strength of blockchain technology to offer advanced privacy to users across the globe.
With Orchid, users are empowered to understand and control every network activity on their personal computers without any form of surveillance, intermediation, or censorship.
Orchid’s OXT is an ERC20 token. Anyone wanting to use the Orchid network needs OXT, the Orchid app, and a Web3 crypto wallet.
Coinbase customers who are eligible can earn $6 of OXT when they read about the token and also take some quizzes.