The Oasis Network ROSE cryptocurrency is looking for a bottom after pulling back from its all-time high of $0.5964 hit earlier this year. The symbolic price is down around 47% since the start of the year and 62% from the January peak (as of February 28).
The network recently launched decentralized finance (DeFi) applications and formed partnerships for cross-chain interoperability. In this article, we take a look at the latest news from Oasis Network and the price outlook for the ROSE token.
What is Oasis Network?
Oasis Network develops DeFi applications, cross-chain interoperability. It bills itself as the “first scalable, privacy-friendly blockchain network for open finance and a responsible data economy.” Spear as of October 2020, the network is backward compatible with the Ethereum blockchain, allowing developers to bring decentralized applications (dApps) to the Oasis blockchain, for example the decentralized exchange (DEX) Uniswap.
ROSE is the network’s native utility token, which is used to pay transaction fees and for staking and delegation at the consensus layer. The token launched with a circulating supply of 1.5 billion out of a total hard cap of 10 billion. Approximately 2.3 billion tokens will be paid out to stakers and delegators over time as a reward for securing the network.
There are currently around 3.49 billion ROSE tokens in circulation, giving it a market cap of $824.5 million (£616.6 million) at the time of writing (28 Feb) and ranking it ranked 90th among cryptocurrencies.
Oasis Network Price Analysis (ROSE): Further Advances Towards Interoperability
January 11, Oasis noted that Binance Labs, the investment arm of crypto exchange Binance, contributed to the Oasis Ecosystem Fund, bringing its total available capital to $200 million. The Oasis Ecosystem Fund invests in the development of applications on the Oasis network, including DeFi, NFT, metaverse and privacy applications, as well as tokenization and data governance.
Oasis will provide additional financial support with the $500,000 DappRadar x Oasis Accelerator Program introduced February 9. The fund will support developers building apps on the Oasis network, specifically for DeFi, games to earn, and privacy. From these, 10 of the best projects will be selected, beginning in April, to receive a grant of up to $50,000 in ROSE coins each.
oasis too announcement on January 11, DeFi went live on the network, with the launch of YuzuSwap DEX and Wormhole Bridge on the mainnet. YuzuSwap allows token holders to participate in liquidity pools, trade, and earn returns. The Wormhole Bridge connects Oasis to nearly $1 billion in total value locked (TVL) across Avalanche, Binance Smart Chain (BSC), Ethereum, Polygon, Solana, and Terra blockchains. Users can transfer Ethereum-based ERC-20 tokens through the bridge.
On February 17, the WePiggy loan protocol spear on the Oasis network, starting with lending USDT, ETH, and ROSE, with more tokens to come.
Oasis announcement further advances towards interoperability on February 7 through a partnership with Celer cBridge. The partnership offers Oasis Network users instant, low-cost transfers between Oasis and other blockchain and Layer 2 networks supported by cBridge.
“In addition, Oasis Network and Celer Network will explore ecosystem opportunities in the new Celer Inter-Chain Message (Celer IM) framework, which will enable Oasis-based DApp developers to build cross-chain applications with efficient use of liquidity, consistent logic, and shared states. This means users can benefit from a multi-chain ecosystem with a single-transaction user experience,” the announcement reads.
February 16, Oasis Network noted which he integrated with Multichain, a router for the third generation Internet (Web3) developed for arbitrary interactions through blockchains:
“Now cross-chain transfers of five assets (ETH, WBTC, USDT, USDC, DAI) between Oasis Network and Ethereum, and two assets (BUSD, BNB) between Oasis Network and BSC are available on Multichain.”
Oasis Network added that more assets will be added in the future.
February 22, Oasis noted that GemKeeper.Finance has completed its Peckshield security audit, becoming the second DeFi protocol on Oasis to have completed an audit.
GemKeeper provides BLING incentive rewards (its governance token) for Oasis ROSE coin paired with Wormhole USDT, as well as ROSE pairs with Multichain BUSD, LINK, AVAX, FTM, USDC, and BNB.
The price of the Oasis Network token has increased by more than 933% in 2021, rising from $0.04158 to end the year at $0.4298. The price reached an all-time high of $0.5964 on January 15, but then fell back to a low of $0.1826 on February 24.
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Can the price rebound this year or will it remain under pressure? Let’s take a look at what the latest crypto predictions from Oasis Network indicate.
Oasis Network (ROSE) Price Prediction: Long-Term Outlook
Short-term sentiment on the ROSE coin was neutral at the time of writing (February 28), according to CoinCodexwith 13 technical analysis indicators giving bullish signals against 13 bearish signals.
The Average Directional Index and Volume-Weighted Moving Average showed sell signals, while the Hull Moving Average, Relative Strength Index (RSI), Fast Stochastic RSI, Stochastic RSI and Range Williams percentage were bullish. CoinCodex predicted that the value of the oasis network will drop 4.55% to $0.221139 by March 3.
Oasis Coin Price Prediction from Algorithm Based Prediction Site Investor Portfolio (as of Feb. 28) was bullish on ROSE’s long-term outlook, predicting that the price could reach $0.556 by the end of 2022. The price might reach $0.9056 by the end of 2023 and $1.608 by the end of 2025, reaching the $2 mark in February 2027.
digital coin also expects the ROSE price to trend higher over the next few years. Based on historical data, the site’s ROSE/USD forecast had an average price of $0.32 in 2022 and $0.37 in 2023, rising to $0.49 in 2025 and $1.11 by 2030.
Price predictionOasis Network’s price prediction for 2030 was much more optimistic, estimating that the coin could average $7.39 in 2030. This would be a big increase from $1.02 in 2025 and $0.32 in 2022, according to the site’s in-depth AI-assisted technical analysis.
Government capitalROSE price analysis pegged ROSE token trading at $0.932 by the end of 2022 and $2.191 by the end of 2023, reaching $6.147 by the end of 2025 and $9.259 by the end of 2023. by the end of 2027.
It is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict a coin’s price within hours, and even more difficult to give long-term estimates. . As such, algorithm-based analysts and forecasters can and do get it wrong in their predictions.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Read the latest market trends, news, technical and fundamental analysis and expert opinions before making any investment decisions. Keep in mind that past performance does not guarantee future returns.