Oasis Network price prediction: What next for the DeFi coin?
The successful launch of the YuzuSwap exchange has seen native token ROSE bloom
Contents
- Oasis Network’s founder
- Overview: What is Oasis Network (ROSE)?
- YuzuSwap
- ROSE coin performance
- Oasis Network price prediction: Expert opinion
- Final thoughts
- FAQs
The 11 January launch of YuzuSwap, the first decentralised exchange (DEX) on the Oasis Network, proved to be a great success, with the exchange reaching a staggering $100m total value locked, or TVL, in its first 24 hours of operation.
The launch of the DEX, which gives users access to low-cost token swaps, coincided with an announcement from Binance Labs, the principal investment arm of Binance exchange, that it had agreed to invest in Oasis Network’s development fund.
Launched back in November 2021, the fund aims to lure developers by offering them the chance to build promising start-ups on the Oasis Network.
With big names backing the fund, and by proxy the network itself, things are looking positive. Add in the positive launch of YuzuSwap, and it’s no wonder that the coin has performed well lately.
But how does all of this affect the Oasis Network coin price prediction? Before looking at forecasts, here’s an overview of the project as a whole.
Oasis Network’s founder
Dawn Song is the founder and CEO of Oasis Network. She graduated from Carnegie Mellon University with an MS in computer science before gaining a PhD in computer science from the University of California, Berkeley.
After completing her studies, Song initially worked as a professor at Carnegie Mellon University. In March 2018, she founded Oasis Labs while also being a professor at UC Berkeley.
Overview: What is Oasis Network (ROSE)?
According to the company’s website, Oasis Network is a layer 1 blockchain that uses proof-of-stake. It is also the first privacy-centred project in the open finance sector. The crypto’s mission is to accelerate the mainstream uptake of decentralised finance (DeFi). It aims to do this by creating a more scalable, accessible, and cheaper platform than other protocols on the market.
According to the platform, there are two components to the Oasis blockchain that make it highly scalable. Oasis Network calls these the Consensus layer and the ParaTime layer.
The ParaTime layer ensures that many transactions can be conducted in parallel, increasing the overall processing speed. According to the website, ParaTime processing is more secure than other blockchains’ sharding and parachain processes.
The Oasis Network claims that privacy is a core feature of the project. The project uses a secure computing technology called Trusted Execution Environment (TEE), which Oasis Network says secures smart contract execution and ensures data is never leaked to developers or validators. This helps reassure users that their private data remains limited to the parties involved.
The platform also has a type of digital asset that it refers to as Tokenized Data. According to Oasis Network, this feature allows individuals to control the data they generate. Unlike legacy technologies, where businesses own the information they capture, Oasis Network is attempting to redefine data ownership to create “a more responsible data economy”.
The project aims to unlock a host of new case uses with these privacy features. It will also ensure that sensitive data, such as banking and health information, can be processed by apps without users having to worry about the data being leaked, it says.
YuzuSwap
The launch of Yuzuswap and its immediate success among investors could help secure the network as a significant future player on the crypto scene.
The decentralised exchange was built using Oasis Network’s Emerald, a smart contract environment that uses a peer-to-peer market maker. The ecosystem is compatible with Ethereum Virtual Machine. It also allows users to trade coins and non-fungible tokens on six other notable blockchains.
With significantly lower gas fees than competitors such as Ethereum, plenty of notable investors behind the project and the mainnet successfully launched, Oasis Network’s ROSE seems to be a coin to watch.
How will this affect Oasis Network price predictions for 2022? Or even an Oasis Network price prediction for 2030?
Before looking at what the experts think, let’s look at how the coin has performed so far to provide context for their opinions.
ROSE coin performance
The ROSE coin, the native token of the Oasis Network, climbed soon after its launch from $0.0382 on 17 November 2020 to $0.1336 on 17 February 2021. The coin hit resistance in early March but subsequently climbed again to $0.2255 on 14 March 2021.
Soon after, however, the coin price dropped to $0.0565 on 23 May, dropping again the following month to $0.0481 on 25 June. The ROSE coin price began to rise soon after, reaching $0.2818 on 7 September 2021. The coin hit resistance in late September before rising in November to $0.4166 on 21 November 2021.
Then It dropped again, hitting $0.2332 on 10 December before rising to $0.4463 on 1 January 2022. This month, the coin has hit record highs, reaching $0.5659 on 14 January 2022.
The ROSE coin price has subsequently seen a slight correction, standing at $0.4588 on 20 January 2022.
The ROSE coin has a maximum supply of 10 billion and a current circulating supply of 3.29 billion.
The Oasis Network has a current market cap of $1.6bn. According to the Coin Gecko platform, ROSE has surged more than 880% in the past year and has doubled in the past 30 days, climbing 50% in the past week.
But how does this information impact an Oasis Network price prediction? Let’s look at what the experts think.
Oasis Network price prediction: Expert opinion
Predictions can be helpful as an indicator of which direction the price might move, they should be viewed as possibilities rather than absolutes. This is especially the case when looking at long-term forecasts, as these can sometimes be completely off the mark. This is because of the inherent volatility of the crypto market but also the many unknowns that could affect future prices.
With this in mind, WalletInvestor thinks Oasis Network could increase to $0.973 in a year’s time and $2.830 in five years’ time.
Gov.capital, in an optimistic forecast, estimates a ROSE price prediction for 20 January 2023 of $1.265. The platform puts forward a ROSE price prediction for five years’ time of $9.014.
DigitalCoinPrice also sees the coin increasing in value. The platform thinks that Oasis Network could be worth $0.7631 in 2023 before increasing to $0.7747 in 2024. The website’s Oasis Network price prediction for 2025 stands at $0.9662.
Final thoughts
While much remains to be seen in terms of how the project will evolve, and how amibitions for the future will materialise, the project seems to have promise.
Big tech is increasingly under fire for mining data, and the conversation is heating up around how individuals should ultimately own and monetise their own information.
The Oasis Network’s proposition appears, in theory at least, to solve a genuine problem that erodes the privacy of individuals and weakens trust in both private businesses and governments, who appear incapable or unwilling to put appropriate regulations in place.
FAQs
There is a maximum supply of 10 billion ROSE coins and a current circulating supply of 3.29 billion.
Many experts think the coin will go up in the future. It is always worth remembering that the crypto market is highly volatile and the price of all tokens and coins can go down as well as up.
The Oasis Network appears to be an interesting crypto project with some unique features. Many experts think this coin is a good long-term investment. However, it is always worth remembering that forecasts, especially long-term ones, are better viewed as indicators rather than absolutes.
Investing is a highly personal endeavour. Do your own research and try to keep up to date with any developments within the Oasis Network that could boost or dampen its prospects.
Remember, investing can be risky, and it is important never to invest more money than you can afford to lose.
