Oxygen (OXY) is a digital asset that functions as the governance and utility token for the Oxygen protocol, a prime brokerage service in the decentralized finance (DeFi) space. This guide provides a detailed overview of its market performance, availability, and fundamental characteristics.
Current Price of Oxygen (OXY)
As of the latest data, the price of 1 Oxygen token is $0.02667. The token has experienced a 24-hour price change of approximately 1.05%. It is important to note that cryptocurrency prices are highly volatile and can change rapidly based on market conditions.
Oxygen (OXY) Market Overview
OXY is not categorized under a specific sector within the cryptocurrency market, which is common for utility tokens that serve a specific protocol's ecosystem.
Where to Trade Oxygen (OXY)
OXY tokens are available for trading on several cryptocurrency exchanges. The following table outlines the major trading pairs, their prices, and trading volumes.
| Exchange | Trading Pair | Price | 24h Volume |
|---|---|---|---|
| Kraken | OXY/USD | $0.0265 | $356 |
| Kraken | OXY/EUR | €0.0226 | $302 |
| Raydium | OXY/RAY | RAY 0.0130 | $228 |
| Orca | OXY/SOL | SOL 0.0002 | $28 |
The highest trading volume for OXY is currently on the OXY/USD pair on the Kraken exchange, accounting for a significant portion of its total market activity. Over the past week, the token's price has seen fluctuations, with a recorded low around $0.0266.
Oxygen (OXY) Conversion Calculator
A simple conversion shows that:
- 1 OXY = $0.0267 USD
For more accurate and real-time calculations, consider using a dedicated cryptocurrency converter tool 👉 View real-time conversion tools.
Understanding the Oxygen Protocol and OXY Token
Oxygen is designed as a prime brokerage protocol operating on the Solana blockchain. It aims to provide a comprehensive suite of financial services, including lending, borrowing, and trading, all within a decentralized framework.
The OXY token is central to this ecosystem. Its primary uses include:
- Governance: Token holders can participate in decision-making processes regarding the protocol's future development and changes.
- Utility: The token is used to pay for fees within the platform and may provide holders with access to exclusive features or discounts.
How to Manage OXY in a Wallet
To store your OXY tokens, you will need a compatible cryptocurrency wallet that supports the Solana blockchain, such as a Solana-compatible wallet like Phantom. The process for adding a custom token like OXY is generally consistent across wallets:
- Open your wallet and ensure you are connected to the correct network (e.g., Solana Mainnet).
- Navigate to the section for managing tokens, often labeled "Add Token" or "Import Token."
- You will need to input the token's smart contract address. Always obtain this address from an official and verified source to avoid losing funds.
- Once the address is pasted, the token's details (like symbol and decimals) should auto-populate.
- Confirm the addition, and the OXY balance will appear in your wallet.
Always double-check contract addresses from official project sources before adding any token to your wallet.
Official Oxygen Resources
For the most accurate and up-to-date information, always refer to the project's official channels. The primary resources for the Oxygen protocol include:
- Official Website: The main portal for information on the protocol and its services.
- Twitter (X): The team's official account for announcements and community updates.
- Other Social Media: The project may also maintain communities on platforms like Reddit.
Be cautious of unofficial groups or accounts that may attempt to impersonate the project for fraudulent purposes.
Frequently Asked Questions
What is the main purpose of the OXY token?
The OXY token serves a dual purpose as both a governance and utility token. It allows holders to vote on proposals for the Oxygen protocol's development and is used within its ecosystem for fee payments and potential rewards.
Which blockchain is Oxygen built on?
The Oxygen prime brokerage protocol is built on the Solana blockchain. Consequently, the OXY token is a SPL token (Solana Program Library token) native to that network.
How can I safely buy OXY tokens?
The safest way to acquire OXY is through well-known and reputable cryptocurrency exchanges that list it. Always ensure you are using the official website of the exchange, enable all security features like two-factor authentication (2FA), and never share your private keys or seed phrases with anyone.
What is a prime brokerage protocol in DeFi?
A prime brokerage protocol in decentralized finance aims to offer integrated financial services—such as leveraged trading, borrowing, and lending—from a single margin account. It simplifies the user experience by aggregating liquidity and services.
Are there any risks associated with holding OXY?
Like all cryptocurrencies and DeFi tokens, OXY carries inherent risks. These include market volatility, smart contract vulnerabilities, regulatory changes, and protocol-specific risks. Always conduct thorough research and only invest what you can afford to lose.
Where can I learn more about DeFi investing strategies?
For those new to decentralized finance, numerous educational resources are available online. It is crucial to start with the basics of blockchain technology, understand smart contracts, and learn about risk management 👉 Explore more DeFi strategies.