Oasis Network peaked towards the end of November – establishing a new all-time high at $0.46. Market corrections followed suit after the ATH was recorded and the cryptocurrency was expected to be moving downhill for a while; however, the downtrend was soon reversed amidst strong fundamentals and recent developments. During the past twenty-four hours, ROSE token recorded a steep upwards jump, increasing by nearly 20% during the window. Moreover, the weekly performance records a growth of nearly 50%. At the time of writing, the cryptocurrency stands at a price level of $0.31 with the daily trading volume also having surged by around 140%. Oasis Network currently stands at a market rank of #87.
Oasis Network – Recent developments
The engineering team of Oasis Network has been working hard on fulfilling gaps in the network. During November, the network’s wallet saw some major updates which resolved issues as well as revamped the wallet with a better user interface. The browser extension of the wallet is also currently undergoing developments and the team is expecting to release a new version by the end of December.
Another major development on the network is the launch of Emerald ParaTime. Emerald ParaTime is Oasis Network’s EVM-compatible ParaTime designed for NFTs, metaverse and DeFi. The ParaTime has been successfully deployed on the mainnet of the network. The Wormhole Bridge is also expected to be integrated to the Emerald ParaTime by the end of December. The Wormhole Bridge will enable the network to seamlessly transfer assets from Terra, BSC, Ethereum, Solana and Polygon to Oasis. Other developments related to the Emerald ParaTime are also being anticipated. A block explorer for Emerald is also to be added soon to the ParaTime.
The Oasis Network’s ecosystem has also had several developments which have resulted in high community engagement. YuzuSwap – an open and safe DEX ecosystem built on Oasis – launched an airdrop program which saw nearly 90,000 participants. YuzuSwap has also been successfully deployed and in just the first three days of launch, saw 12k unique users. Two grant awardees, WePiggy and Amy.Finance, are also working on lending protocols for Emerald to be launched in January.
Future outlook
The past couple of months have been jam-packed with interesting developments for Oasis Network and is also the reason why ROSE token surged to a new ATH. The network has strong fundamentals which boost a positive future outlook. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $0.48 in a year’s time while the five-year projection places it at $1.17.
