HomeCoinsAltcoinsOasis Network (ROSE) Price Surges 18% in the Last 24 Hours

Oasis Network (ROSE) Price Surges 18% in the Last 24 Hours

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  • Oasis’ Emerald has a total worth of $104 million locked.
  • Binance Lab recently committed $200 million to the network.

Oasis Network (ROSE) and Fantom (FTM) are two layer one blockchains bringing color to the early-year crypto cold. The Oasis Network has grown in popularity as a Proof-of-Stake Layer 1 blockchain in recent months.

Read More: Fantom Price Prediction

Its ROSE coin is up 18.1% today, and its DeFi ecosystem has surpassed $100 million in total value. Oasis Network’s Ethereum-compatible subnetwork, Emerald, has seen the most activity in recent weeks. YuzuSwap and DuneSwap are the two decentralized exchanges presently running on the platform.

ROSE/USDT: Source: TradingView

According to DeFiLlama statistics, Oasis’ Emerald has a total worth of $104 million locked, with YuzuSwap holding almost $100 million of it. Within the first few hours after its deployment on Tuesday, the protocol experienced a boom in activity.

Multiple Funding Rounds

To process transactions, the Oasis Network uses a proof-of-stake (PoS) consensus approach. Oasis, like Ethereum, allows developers to create apps on top of these functionalities. Binance Labs’ recent $200 million commitment to the network is one of the factors contributing to the recent ROSE price surge.

Read More: Oasis Network Price Prediction

Read More: Ethereum Price Prediction

The Oasis Foundation’s director, Jernej Kos, said:

“We couldn’t be more thrilled that Binance Labs decided to dedicate such a significant contribution to our Ecosystem Fund. They are a valued partner, and together we can create new frontiers in the blockchain space.”

In recent weeks, Oasis Network has released several big enhancements. According to a report published on Tuesday, Binance’s venture capital arm would contribute $40 million to the Oasis ecosystem fund. Dragonfly Capital Partners, Draper Dragon Fund, JumpCapital, and PanteraCapital participated in the fund announced in November 2021. 

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