Good day everyone,
I hope you are all having a good week so far, welcome to CryptoGod-1's blog on all things Crypto. Today I will be writing about Oasis Network (ROSE), and whether or not it has the potential to pump over the coming weeks and months.
What is Oasis Network (ROSE)
As per their website, which you can find , Oasis Network is basically a privacy enabled blockchain platform for open finance and encouraging a responsible data economy.
As per their website the following information is available about what exactly ROSE offers:
By bringing privacy and scalability to DeFi, the Oasis Network expands DeFi beyond early adopters to a mass market. It enables private smart contracts, high scalability, and the ability to tokenize data. This unlocks new use cases like private lending, undercollateralized loans, and private automated market makers.
The Oasis Network’s unique combination of confidential computing and blockchain enables a new paradigm called Tokenized Data. With Tokenized Data users can earn rewards by staking their data with apps that want to analyze it or control how their most sensitive information is consumed by the services they use.
Smart Contracts:The Oasis ParaTime scaling architecture supports fast transaction speed, high scalability, and large workloads by separating execution from consensus. Anyone can create their own ParaTime, allowing for the Oasis Network to support a rich ecosystem of applications and use cases.
Indicators
Looking on Coin Geko today you can see Oasis/Tether is sitting in 19th for coin positions on Binance. The recent 24-hour trading volume for ROSE at the time of writing has been around the $500 million mark, while the coin itself has a market cap of $557 million. This indicates that the coin is in a very positive position, with so a high trading volume compared to its market cap signalling that many people are accumulating this coin. Currently, the price is sitting around the $0.36 mark. This is very close to its all-time high price of $0.44, which it reached on 21/11/2021 (yesterday at the time of writing).
Is it Worth Investing?
If you are looking for a long term HODL then ROSE has great potential. Whether or not it will reach its potential is another question, but looking at the CoinPerspective it shows that the coin could be worth a maximum price of $714.27 if it was to reach the market cap of Bitcoin. While this is unlikely, as it would give a return of 1934x, there is potential for a 10x or more with ROSE as part of the Bull run. With a maximum supply of 10 Billion coins and only 1.5 Billion coins currently in circulation, there is a lot of long term growth potential.
It has already pumped from a price of 0.20 on 17/11/21 and is currently in a downtrend. This does not mean it is not a good investment, as the long and short term growth could easily see this coin pushing towards the $1 mark and beyond. With some interesting ideas and focusing on the security of their user data within their Network, the Oasis Protocol is an interesting alternative to the traditional coins such as BTC, ETH, ADA, etc. Their community has close to 1,000 node operators, developers, ambassadors, and nearly 10,000 members active in their social media groups.
Please remember this is not financial advice, merely some trends, and indicators I have noticed. Invest at your own risk, and I have not received any remuneration for writing about this topic.
Have a great day.
CryptoGod-1.
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