Oasis Network will hold a token unlock event on May 18th of this year.
The network will unlock $10.7 million worth of tokens, representing 2% of all tokens.
oasis networkThe ROSE token has moved sideways this week ahead of a major event in the ecosystem. ROSE is trading at $0.053 and has remained at this level for the past few days. The price is about 11% above its low this month.
Unlocking Oasis Network Tokens
Oasis Network is a blockchain project focused on privacy in decentralized applications (dApps). It is an Ethereum competitor with lower transaction costs and faster speeds. As part of the ecosystem’s growth, Oasis has launched his $235 million ecosystem fund to enable the building of decentralized apps.
Oasis Network has more Total Value Locks (TVLs), according to DeFi Llama than $6.8 million, below the all-time high of more than $250 million. From ROSE’s point of view, his TVL on the network exceeds R123 million. The top dApps on Oasis Network are Fountain Protocol, YuzuSwap and Lizard among others.
The challenge for Oasis is that it faces stiff competition within the industry. Top competitors include blockchains such as Arbitrum, Ethereum, and Solana.
The most important Oasis Network news of the week is the upcoming token unlocks. Token unlocking occurs when the blockchain releases a portion of the locked tokens to the market. It will occur at a certain pre-determined time period before the airdrop.
The Oasis Network unlocks 199.5 million ROSE tokens of value. that’s all $10.7 million. This amount corresponds to approximately 2% of the total tokens.
There are currently 5.07 billion tokens in circulation. The number of unlocked tokens exceeds 2.58 billion tokens. If the program works, the total tokens will be unlocked in 2031. Most of the time, tokens tend to drop before the big token unlocks.
ROSE price prediction
The 4H chart shows that the Oasis Network token has been in a strong bearish trend over the past few weeks. It has already broken below the critical support level of $0.057 (the lowest level on April 26). This week the pair rose slightly, forming a symmetrical triangular pattern shown in blue.
The Relative Strength Index (RSI) rose from the oversold level of 20.15 to above the neutral point. Therefore, the token may make a bearish breakout as sellers target the monthly low of $0.048.
How to purchase Oasis Network
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