Orchid, under #OXT - was added to Coinbase in December 2019. After a short early increase in price during the first month to .72, the price crashed down to .15 in March, during the Crypto March crash. At first glance it looks like the market cap is only $12 million in Coinbase, which would be nowhere relative to every other cryptocurrencies listed as a trade-able asset.
Accounting for the circulating supply, the realistic valuation for Orchid is around 167M.
Comparing Orchid to the other Alt Coins listed on Coinbase, Orchid is the only Cryptocurrency recently put into market with this low of market cap already on Coinbase.
Earliest backers of this San Francisco based firm Orchid, include Andreessen Horowitz, DFJ, MetaStable, Compound, Box Group, Blockchain Capital, and Sequoia Capital. With OXT coins, one can utilize their VPN service on the Blockchain. Differentiation is that it protects users from spying from the VPN provider or whoever else. The most exciting part of this project, is the practicality around the utilization of the cryptocurrency.
The current value of the global VPN market is around 30 - 40 billion, with high growth expected to continue. If TikTok is banned in the United States, the usage of a VPN could become a common adoption over night.
The VPN market is growing, its early partnership with CoinBase shows promise, and its early investors constitute some of the most well known firms. Experiencing only a modest recovery since the March bottom, OXT is in a strong position for growth.