Oasis Network had picked up bullish momentum during the end of November. The cryptocurrency reached a new all-time high at $0.46 during that period. However, as is the norm, market corrections followed suit after the prolonged bullish period for the cryptocurrency and the ROSE token fell drastically. The cryptocurrency has been vying to pick up the bulls once again but had not been successful previously. The current week shows positive performance of the token. At the time of writing, ROSE stands at a price level of $0.34. The cryptocurrency has increased by 12% during the day while the daily trading volume surged upwards by 72%. Oasis currently stands at a market rank of #93 in terms of capitalization.
Oasis Network’s Ecosystem Fund
On 2nd December, Oasis Network held the launch event of its $160 million Ecosystem Fund, “Building the New Generation of DeFi”. The event was held in collaboration with crypto venture funds Dragonfly Capital, NGC Ventures, and Draper Dragon. Moreover, the platform had also held a giveaway of 5,000 ROSE tokens. The Fund is supported by some established as well as new projects that have combined their synergies for one common goal. The key focus areas of the Fund are DeFi, NFT, Metaverse, and Data Tokenization. It is expected to lead the technological innovation in the blockchain realm given the focus on the current hot topics. Moreover, the team believes that privacy – or the lack thereof – is one of the hurdles in the advancement of blockchain technology – which is something that the Fund and the network are aiming to solve.
What else is happening?
Towards the end of November, the platform had also launched the first decentralized exchange built on Oasis. The launch of the DEX, Yuzu Swap, was celebrated with giveaways which resulted in a significant increase in community engagement.
Another interesting development in Oasis Network’s ecosystem is the recent announcement of a partnership with ThetaNuts. ThetaNuts Finance is a leading decentralized finance derivatives platform that is set to bring structured products to Oasis’s EVM-compatible ParaTime, Emerald. The partnership will be key in unlocking the DeFi 2.0 potential of the platform. ThetaNuets capabilities and proposition are also expected to bring good things into Oasis’s ecosystem.
The recent developments have been causing a surge in the popularity of cryptocurrency. Oasis Network is expected to climb upwards in the upcoming days. According to the estimates of Wallet Investor, the cryptocurrency is expected to be trading at a price level of $0.48 in a year’s time and $1.12 in five years.
