Oasis Network price prediction: What next for the DeFi coin?

Successful launch of the YuzuSwap exchange has seen native token ROSE bloom

Oasis Network logo                                 
Oasis founder Dawn Song was voted No. 35 in Coin Telegraph’s top 100 most influential people in crypto – Photo: Shutterstock
                                

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On 11 January 2022, the launch of YuzuSwap, the first decentralised exchange (DEX) on the Oasis Network, proved to be a great success, and the exchange reached 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 by Binance Labs, the principal investment arm of Binance exchange, that it had agreed to invest in Oasis Network’s development fund.

Launched in November 2021, the fund aims to attract 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 network’s native token has performed well lately.

But how does all of this affect the Oasis Network price prediction? Before looking at ROSE forecasts, here’s an overview of the project as a whole.

From the Oasis Network white paper

The white paper says: “The Oasis Blockchain Platform is a layer-1, proof-of-stake (PoS) smart contract platform that provides scalability, extensibility and privacy. The main features of the platform enable efficient verifiable and confidential smart contract execution.”

The document goes on to say: “The modular design of the platform allows the consensus layer to be easily changed to use a completely different consensus mechanism to benefit from the latest progress in the space.”

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)?

As mentioned above, 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 access to their private data is limited to the parties involved.

The platform also has a type of digital asset that it refers to as Tokenised 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 use cases 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 establish 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 and beyond?

Before looking at what the experts think, let’s look at how the coin has performed so far, to provide some context for their opinions.

ROSE coin: recent 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 that, however, the coin price dropped to $0.0565 on 23 May, before falling again the following month to $0.0481 on 25 June. The ROSE coin price then began to rise, 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. The coin hit its all-time high of $0.5964 on 15 January 2022. 

The ROSE coin price has subsequently seen a slight correction, hitting a four-month low of $0.2145 on 15 March. The coin subsequently experienced an uptrend, reaching a high of $0.3302 by 5 April.

The coin then dropped, dipping to $0.2318 on 19 April, before crashing to lows of $0.2584 by 1 May. The token has since fallen even further, hitting a low of $0.0552 by 12 May. 

The ROSE coin value currently stands at $0.0704 as of 23 May. 

The ROSE coin has a maximum supply of 10 billion and a current circulating supply of 5.03 billion.

The Oasis Network has a current market cap of $348,691,801. According to CoinGecko, ROSE lost 68% in value in the 30 days leading up to 23 May.  

But how does this information affect 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 in, but they should be viewed as possibilities rather than absolutes. This is especially the case when looking at longer-term forecasts, as these can sometimes be completely off the mark, due to the inherent volatility of the crypto market and the many unknowns that could affect future prices.

With this in mind, WalletInvestor thinks Oasis Network could increase to $0.23 in a year’s time and $0.85 in five years’ time.

Gov Capital, in an optimistic forecast, gives a ROSE price prediction for 2023 of $0.861. The platform puts forward a ROSE price prediction for five years’ time of $7.094.

DigitalCoinPrice also sees the coin increasing in value. The site’s Oasis Network price prediction for 2022 suggests the coin could be worth $0.0964 in June. The platform thinks that Oasis Network could be worth an average of $0.11 in 2023. The website’s Oasis Network price prediction for 2025 stands at $0.14 but the site also suggests a decrease in value to $0.13 in 2026. Then the site forecasts a year-on-year uptrend to an Oasis Network price prediction for 2030 of $0.32.

Final thoughts on Oasis Network

While much remains to be seen in terms of how the project will evolve, and whether the network’s ambitions 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 over privacy and loss of trust in both private businesses and governments, which appear unable 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 5.03 billion.

Many experts think the coin will go up in the future. It is always worth remembering, however, that the crypto market is highly volatile, and that 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, do remember that forecasts, especially long-term ones, are better viewed as indicators rather than absolutes, and that you should always undertake your own research on an Oasis Network coin price prediction before making any investment decision.

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.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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