Can Oxygen (OXY) crypto go past US $3 post Kraken listing?

Highlights

  • Oxygen cryptocurrency (OXY) is a decentralised finance (DeFi) brokerage service, which operates on the Solana blockchain. 
  • OXY was listed on the Kraken exchange on Thursday.
  • According to CoinMarketCap, the OXY was trading at US $2.07 with a 24-hour trading volume of US $13,50,441,

Oxygen cryptocurrency (OXY) is a decentralised finance (DeFi) brokerage service, which operates on the Solana blockchain. Due to its vibrant ecosystem and decentralised financial ecosystem, it has risen on investors list as a must-invest coin of late. With the ease of the Solana blockchain, it is able to let the users earn yield and earn leverage against their portfolios.

OXY got a further impetus with the Kraken listing on Thursday. Powered by Serum's on-chain infrastructure, the users can take advantage of the protocol’s main service, which offers fund transfers and token exchanges, and other features.

Also read: Will KuCoin listing supercharge Opulous crypto?

What makes Oxygen crypto unique, and an investment-worthy coin is its prospects of giving great returns. This is supplemented by the fact that volume saw an impressive spike of 61.83%, which showcases that there are enough buyers in the market. Market participants prefer the Oxy coin's short-term profits compared to the long-term plans as short-term gains are more profitable in the current volatile crypto environment.

What makes Oxygen unique?

Being built on Solana network, Oxygen crypto gets the benefit for faster transaction and can execute 50,000 transactions per second for only US $0.0001 in gas fees. In order to execute credit services, Oxygen optimises Serum’s DEX, which allows the users to match their borrowing and lending orders. Besides, it also offers auditory services for risk management and allows the derivatives market-making, leveraged trading, and over-the-counter trading.

Oxygen crypto enables the users to generate yield on your portfolio, which can be used as a collateral, when the users want to borrow other assets. This ensures that there is a lower liquidation risk for the portfolio. Besides as the order-book is based on a set model, users get the best prices for their borrowings.

Also read: How Paypal’s new crypto payments app is unique

Why OXY is a good investment

OXY is ranked 343 on CoinMarketCap. According to CoinMarketCap, the OXY was trading at US $2.07 with a 24-hour trading volume of US $13,50,441. At the time of writing (BST 7:30 am), OXY was up by 3.60% in the last 24 hours. Oxygen crypto has a live market cap of US $11,83,44,726 with a circulating 5,72,92,710 OXY coins. 

With OXY showcasing bullish sentiment, the investors can expect to book significant profits in the short-term. Investors are flocking in post Kraken listing. With its opening in other markets, the coin is expected to strengthen further in the intra-day trading sessions. Experts predict that OXY could reach US $3 mark by the end of this year.

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