Key investors in the cryptoverse are pouring millions into Oasis Network. What potential does smart money see in this blooming DeFi ecosystem? Covered: Oasis Network’s $200 Million Funding What Is Oasis Network? ROSE Price Action The crypto markets are looking a lot healthier today after bullish commentary from the Federal Reserve Chairman Jerome Powell about […] The post Crypto Whales Have Invested $200 Million In This Ecosystem appeared first on CryptosRus.

Crypto Whales Have Invested $200 Million In This Ecosystem

Key investors in the cryptoverse are pouring millions into Oasis Network. What potential does smart money see in this blooming DeFi ecosystem?

Covered:

  • Oasis Network’s $200 Million Funding
  • What Is Oasis Network?
  • ROSE Price Action

The crypto markets are looking a lot healthier today after bullish commentary from the Federal Reserve Chairman Jerome Powell about maintaining low-interest rates. As the crypto ecosystem picks up steam again, massive chunks of capital are flowing into select projects. Oasis Network (ROSE) looks to be one of the latest decentralized finance projects on smart money’s eyes.

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Oasis Network $200 Million Funding

Today, Oasis Network announced that the crypto exchange Binance has invested $40 million to Oasis’s latest funding round, raising the project’s total funding to $200 million. 

In November, Oasis launched a $160 million Ecosystem Fund to develop DeFi, NFTs, Metaverse, data tokenization, Data DAO, data governance, privacy applications, and more on the platform.

The fund has a long list of investors involved with the project. On top of Binance’s latest investment, Oasis has received funding from these key partners:

  • AME Cloud Ventures
  • Dragonfly Capital Partners
  • Draper Dragon Fund
  • Electric Capital
  • FGB
  • Hashed
  • Jump Capital
  • Kenetic Capital
  • NGC Ventures
  • Pantera Capital
  • Oasis Foundation

Bill Chin, Head of Binance Labs Fund, says,

 “We are a true believer of Oasis’s vision and have been supporting the project since the early days. We are very excited to join the Ecosystem Fund as we believe that Oasis can advance Web 3.0 development due to its scalability and privacy-preserving features. Also, any project building on top of Oasis will also be part of the Web 3.0 innovation.”

What Is Oasis Network?

So why is this project getting lots of attention from big-time crypto investors? Well, Oasis Network is the first privacy-enabled blockchain platform that claims to have a tailored solution to expanding the data economy. The platform has two core offerings:

Scalable, Private DeFi: The Oasis Network’s privacy-first design can expand DeFi beyond traders and early adopters — unlocking a new mainstream market. Plus, its innovative scalability design brings fast speeds and high throughput to DeFi transactions.

First to Enable Data Tokenization: The Oasis Network can tokenize data, unlocking brand new use cases for the blockchain and an entirely new ecosystem of projects on the network that will power privacy-first applications.

This image may not make sense at first glance, so let me further break down data tokenization on Oasis.

Oasis claims to have created an entirely new unique digital asset that ensures the enforcement of usage policies – the Secure Enclave. It consists of confidential data stored within the data capsule, along with a set of policies to define the parameters of access. The combination of the two allows data providers on the platform to stake their data as tokens with applications that want to analyze various information, enabling the data provider to get paid for their data rather than the other way around.

If you want to dig deeper into the technicals behind this blockchain, I recommend checking out Oasis’s medium post here.

Growth on the network is also looking promising: Oasis network boasts over 1,000 node operators and a rapidly-growing community of over 10,000 active users engaged in global social channels.

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ROSE Price Action

It’s not just the Oasis community that’s growing, either; ROSE is trading in the green after the Binance announcement today. At the time of writing, ROSE is up over 24% in the last two days, trading at $0.42. 

Looking at the daily log chart, ROSE has been trading roughly within this parallel channel since its inception in 2020. There was a large deviation above the channel during the initial local market top when Bitcoin hit $64,000 in April 2021, followed by a large dump below the channel after the crypto markets came crashing down in May.

Ever since the bull market resumed in August, however, ROSE found itself bouncing within that same channel — take note of the steady rise in volume since the July lows as well; that’s something that was missing from ROSE’s first climb to over $0.20 in April. This tells us that a lot more actively-involved traders are interacting with ROSE this time around, so it should have an easier time sustaining higher prices in the future.

Today, ROSE is butting up against the top line of the channel and approaching its previous all-time high of $0.46. Sustained bullish sentiment in the markets could help ROSE push up and out of this channel and jump into price discovery.

The post Crypto Whales Have Invested $200 Million In This Ecosystem appeared first on CryptosRus.