Orchid (OXT) Token Soaring Today After Major Breakout
By Nilesh Hembade 15-Sept-2023 4:45 AM GMT
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Introduction:
Orchid, a cryptocurrency-powered virtual private network (VPN), has stolen the crypto headlines today as its native cryptocurrency, the $OXT token, experienced a remarkable surge of +31.90%. This meteoric rise came hot on the heels of a significant breakout in the token’s price chart.
At the time of writing, the Orchid OXT token is trading at an impressive $0.08062, reflecting a staggering gain of +32.0% over the past 24 hours. The market capitalization of OXT stands at a formidable $77 million.
The cryptocurrency community is abuzz with excitement as Orchid enthusiasts and traders alike celebrate this remarkable price action.
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Major Breakout of Orchid OXT: Unleashes the Bulls
Orchid OXT’s remarkable surge can be attributed to a major breakout that occurred earlier today. The cryptocurrency had been trading within a symmetrical triangle pattern, a classic technical analysis formation. However, it decisively broke out of this pattern when it reached the price level of $0.0623.
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Orchid's Mission and Background:
Orchid (OXT) is the native cryptocurrency of Orchid, a pioneering cryptocurrency-powered virtual private network. Launched in December 2019, Orchid has positioned itself as the world’s first incentivized, peer-to-peer privacy network.
The core objective of Orchid is to tackle internet freedom limitations by leveraging cryptocurrency payments to facilitate the purchase of bandwidth from any participating provider. Orchid achieves this through the implementation of “probabilistic nanopayments,” which are executed using OXT, an ERC-20 standard token built on the Ethereum blockchain.
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Conclusion
Orchid’s native cryptocurrency, the $OXT token, has witnessed a remarkable surge of +31.90% today, driven by a major breakout in its price chart. Orchid’s mission to provide a decentralized, privacy-focused internet experience through cryptocurrency-powered VPN services is gaining momentum
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