ROSE/USD has weakened from $0.59 to $0.27 since January 15, 2022, and the current price stands at $0.29.
Technically looking, ROSE remains in a bear market, and the risk of further decline still persists.
Partnership with Binance Labs
The Oasis Network is a privacy-enabled blockchain platform that expands DeFi beyond early adopters to a mass market.
High scalability, the ability to tokenize data, and versatility are the main features of Oasis Network. It is important to mention that Oasis Network separates consensus and execution into two layers to achieve better scalability and increased versatility.
Separation of consensus and execution also allows multiple ParaTimes to process transactions in parallel, meaning complex workloads processed on one ParaTime won’t slow down faster, simpler transactions on another.
The Oasis Network supports a significant ecosystem of applications and enables users to earn rewards by staking their data with apps that they want to analyze.
The popularity of this blockchain project is rising across the globe, and according to the latest news, Binance Labs announced to participate in the Oasis Ecosystem Fund to make contributions on the projects that will be built on the Oasis Network. Bill Chin, Head of Binance Labs Fund, said:
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.
ROSE is the native token of Oasis Network, and it has a total supply of 10 billion tokens. ROSE can be used for staking and for smart contract operations that require fees in ParaTimes, and anybody can earn it by participating in the community of Oasis.
ROSE remains in a bear market
Technically looking, ROSE remains in a bear market, and if you decide to buy this cryptocurrency in February 2022, you should use a “stop-loss” order because the risk remains high.
The current support level stands at $0.25, and if the price falls below it, the next price target could be around $0.20 or even below.
The first resistance level stands at $0.35, and if the price jumps above this level, it would be a “buy” signal, and we have the open way to the $0.40.
Summary
ROSE is the native token of Oasis Network, a privacy-enabled blockchain platform that expands DeFi beyond early adopters to a mass market. ROSE is trading down more than 45% from its record highs registered in January 2022, and the risk of further decline still persists. The current support level stands at $0.25, and if the price falls below it, the next price target could be at $0.20 or even below.
The post Is ROSE a good buy in February 2022? appeared first on Invezz.
from Market Analysis – Invezz
