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The Bullish Case for $ROSE
$160 Million Ecosystem Fund to Accelerate Adoption
Welcome to the tenth Alpha newsletter. We curate alpha for you. That’s it; that’s the newsletter.
Everyone likes roses. They do, don’t they?
Well, today we are going to talk about a very special type of $ROSE, the crypto currency kind, which is the native utility and settlement token of the Oasis Network - a very cool L1.
What is the Oasis Network?
The Oasis Network is a privacy-enabled blockchain platform for open finance and a responsible data economy.
How does the performance compare to other L1s?
*Theoretically 1M TPS.
What’s happening currently?
As of yesterday, the Oasis Network’s Emerald is now live on mainnet! This is a big deal as EVM-based Dapps can now be deployed easily to the network.
Ok, so I know you are thinking, so what? There are already loads of EVM compatible L1s. Oasis is already too late and too far behind. Just hold on a second there.
Oasis announced this rather large ecosystem fund to help accelerate adoption of the network. $160 million is a pretty tidy sum.
Avalanche’s ecosystem fund is $220 million (that was the announced figure) and the market cap of $AVAX was around 10 billion when it was announced.
At the time of this announcement from the Oasis Foundation the market cap of $ROSE was only $330 million (it has risen since). I’ll let you draw your own conclusions.
How was such a large ecosystem fund possible? Big backers. Notably three of the biggest crypto hedge funds: Polychain Capital, Pantera Capital and Andreesen Horowitz.
Interestingly, $ROSE is a big favourite amongst funds within the crypto space. Those guys don’t usually miss, right?
Combine everything you have just read with this mega announcement below. Yeah, things are looking bullish for $ROSE.
Obviously we don’t have the specifics of how Meta (formerly Facebook) will be working with Oasis Labs, but this is a huge partnership and an exciting development, which will surely have a positive effect on the Oasis Network adoption at some point.
Alpha from CT
Jon is showing off the potential of the network. “Potential” is the key word. We know scalability doesn’t happen overnight.
Route 2 Fi is bullish and sees the DeFi potential with the Oasis Network.
Crypto Puppy points out that Oasis Labs has connections to quite a few tech giants.
Adding some more context to the significance of launching EVM compatibility.
We all want to retire. Listen to the good man.
Sometimes you just have to buy the coin (DCAing always recommended by Alpha though).
If you are looking for a real deep dive into the fundamentals of $ROSE, then here’s your thread.
How’s the TA for $ROSE?
Unsurprisingly, given all of the bullish stuff above, $ROSE is in price discovery.
Importantly, it has been very strong against $BTC.
A bit of hopium to finish with.
And that’s your alpha.
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