Orchid Research Hub | OXT information, history and analysis
Orchid is a decentralized platform running on the Ethereum Blockchain network that provides a Virtual Private Network service that connects users and bandwidth providers. Orchid is designed to be a decentralized marketplace for VPN services, allowing users to access the Internet safely and securely.
To solve the problems most Internet users face, the Orchid development team launched Orchid Market, a peer-to-peer network with a P2P architecture that allows users to buy bandwidth from bandwidth providers with OXT tokens. Bandwidth providers act as VPNs, allowing users to access the Internet most securely and anonymously while preventing the VPN provider from collecting user information.
Orchid Token (OXT) is a utility token of the Orchid ecosystem, operating on the Ethereum platform according to ERC20 standards and used for the following purposes:
- Pay staking rewards to the nodes that maintain the network.
- Pay transaction fees on the Orchid network.
- Pay for VPN services on Orchid Market.
Current price situation of OXT: The current price of OXT is stable at 0.112 USD, with a market cap of about 110.15 million USD and a total supply of 1 billion coins.
Resistance and support: The significant resistance level of 0.112 USD has challenged the price multiple times. If OXT remains below 0.110 USD, selling pressure will increase below 0.107 USD.
Analysis from social media: User @szitrapamoto pointed out that OXT has broken out of a 490-day resistance level, indicating strength with buying demand.
