Investors can opt for buying popular crypto like Bitcoin or Ethereum and join the game with relatively low risks. However, these high-cap cryptocurrencies don’t have as much profit potential as less-known coins.
The Orchid protocol is a more recent addition to the markets that has still a lot of room for growth. In this article, we explore the basics behind the Orchid (OXT) cryptocurrency and provide some of its advantages compared to the competition. We also take a closer look at some price predictions from renowned websites.
Explaining Orchid Key Features
Orchid is a privacy-focused blockchain that offers a decentralized VPN. Users from all around the world can purchase bandwidth with OXT from a pool of service providers.
The team behind Orchid created the OXT token (ERC-20) on the Ethereum network. However, the protocol executes payments for VPN services off-chain, eliminating the high gas fees from the Ethereum network. At the same time, Orchid has the security features of the parent blockchain, ensuring safe and private transactions.
The protocol relies on the Orchid app, which users can install similarly to any other VPN service out there. The main difference is that the Orchid VPN provider uses smart contracts and gives users access to a P2P bandwidth marketplace. This marketplace is divided into two main groups:
- Bandwidth providers that act as nodes on the network and provide proxy services to the users.
- Bandwidth users that purchase bandwidth to access secure and private internet connections.
The protocol functions on a proof-of-stake mechanism, where OXT tokens are locked in the smart contract to ensure secure transactions on the network. Providers need to stake OXT and gain access to revenue whenever someone uses their bandwidth.
Analyzing Historical Prices
The team released the Orchid protocol in December 2019. The price experienced consequential growth in the first days on the market, jumping from $0.25 to $0.65 in a matter of days. However, the COVID-19 market crash hurt the price considerably, pushing it down to $0.13 in March 2020.
In August 2020, OXT experienced another strong price rally and reached $0.7 per token. This short-lived bull run was followed by a retracement back to $0.2 at the end of 2020. Then, in 2021, the Orchid cryptocurrency went through multiple rallies and retracements. In April 2021, it reached its ATH of $0.85, then fell back to $0.25 in the summer of 2021.
Finally, the latest rally brought the OXT price to $0.68 in November 2021, but the bearish sentiment in the markets pushed the price down back towards $0.20 in January 2022. Currently, the token’s price is recovering and is trading at $0.27. You can take advantage of this price bottom and purchase OXT on the anonymous Godex exchange now.
OXT Price Prediction
The unique P2P VPN solution is enough to make Orchid stand out from the competition. Expert analysts believe that the coin will grow in the foreseeable future and provide a positive OXT crypto price prediction for 2022-2025.
OXT Price Prediction 2022
PricePrediction.net provides a bullish view on Orchid for 2022. The website believes that the token will reach a maximum price of $0.45 per token. TradingBeasts is at one with the experts and gives a maximum price of $0.46 for OXT by December 2022.
OXT Price Prediction 2025
Analysts predict new heights for OXT in 2025. For instance, PricePrediction.net thinks the token will pass the $1 mark during this period and reach a maximum price of $1.43 per token — a growth of more than 400%.
TradingBeasts, on the other hand, is more conservative in its mid-term forecast. They provide a price of $0.6 per OXT token for 2025.
OXT Price Prediction 2030
Not many experts dare to give long-run price forecasts for low-cap tokens like Orchid. However, analysts at PricePrediction.net keep their bullish sentiment for the token and expect it to reach $7 by the end of 2030.
The Verdict on Future Orchid Price
The Orchid protocol has a unique product that offers a decentralized VPN service with pay-as-you-go features. It allows users to encrypt internet data with the power of blockchain cryptography. Moreover, anyone can start earning OXT by becoming a provider and staking coins, increasing the incentives to create a genuine decentralized VPN network.
These fundamentals have enthused analysts over the internet and created a consensus among experts that the Orchid project is headed for success.
Salman is a prolific environmental writer, and has authored more than 500 articles in reputed journals, magazines and websites. He is proactively engaged in creating mass awareness on renewable energy, waste management, sustainability and conservation all over the world.
Salman can be reached on salman@cleantechloops.com
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