Orchid
About Orchid
The price of Orchid (OXT) is $0.06784714 today, as of Sep 16 08:10 p.m., with a 24-hour trading volume of $3.74M. Over the last 24 hours, the price has decreased by -5.19%. Orchid currently has a circulating supply of 591.54M and a market cap of $40.13M.
OXT is the native cryptocurrency of Orchid: a decentralized marketplace where users stake OXT (deposit tokens into a smart contract) in order to list their virtual private network (VPN) services to other Orchid users. VPNs encrypt a user’s online browsing activity making it impossible for outside parties to track what you are doing.
Orchid’s distributed operation of its VPN runs on the Ethereum blockchain by matching users who need bandwidth to sellers willing to share theirs. OXT price has seen various highs and lows, mainly coinciding with the broader crypto market.
Orchid’s OXT has a total supply of 1 billion tokens, although not all of them are in circulation. The tokens were created when the project was launched in 2017, with over 40% residing in the treasury of Orchid Labs, the organization that developed the tokens. However, no more than 10 million OXT can be released from the treasury per month.
The OXT price recorded its all-time high of $1.03 in April 2021. The price trended steadily downward, hitting a bottom of under $0.22 in late June. OXT spent the subsequent months fluctuating around $0.40.