The Oasis Community (ROSE) gains 64% in seven days as the cryptocurrency market as a whole trades in a bullish zone. The value of the cryptocurrency market increased by more than 4%, increasing the total market capitalization past $1,100 billion. Bitcoin, the most revered cryptocurrency on the market, was trading near $23,000 after gaining more than 3% in the previous week.
Oasis Community (ROSE) Value Overview
The current price of Oasis Community is $0.085, with a 24-hour trading volume of $173 million. Oasis is currently ranked #87 available and has a market value of $428 million.
Oasis Community (ROSE) was among the top-performing cryptocurrencies in the top 120 by market capitalization. However, the ROSE community’s gains were short-lived as the cryptocurrency market lost its upward impetus.
ROSE dropped below the $1,1 trillion threshold at the beginning of the month. The reason may be the recently released negative GDP in the United States. It increases the possibility of a technical recession and will result in a sell-off of cryptocurrencies.
Oasis Community (ROSE) Soars 64% Due to Partnership with Meta Platforms
The Oasis Network (ROSE) is a top-layer 1 platform that helps developers build robust platforms in a variety of industries, including Decentralized Finance (DeFi) and Non-fungible currency (NFT). Oasis has being utilized to develop key blockchain applications.
The Fountain Protocol, the Kyber Community, Wormhole, and Multichain are among the most well-known initiatives within the ecosystem. The value of Oasis Community increased significantly. The majority of the upward trend was caused by a contract between the developers and Meta Platforms, the parent corporation of Facebook, Instagram, and Whatsapp.
The partnership’s primary objectives will be to evaluate the company’s products for fairness while protecting individual privacy. It also includes Safe Multi-Party Computation to protect the information that clients provide to Meta (SMPC). Meta Platforms may also utilize the Oasis Network to ensure the integrity of their AI models. The partnership will benefit Meta Platforms, which is undergoing problems at now.
According to company numbers released this week, income and earnings declined for the first time since the company went public two years ago. As a result, this was regarded as one of the primary offers on which Meta Platforms and Oasis Community collaborate.
Weaker US Dollar and a Bearish Cryptocurrency Market
The market capitalization of cryptocurrencies dipped below the $1.10 trillion threshold set the previous week, resulting in losses for the most popular altcoins, including Oasis Community (ROSE), Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), and Ripple (XRP).
In contrast, the negative bias of the broad-based US dollar was viewed as one of several major factors that helped Oasis prices limit declines. As a result, the broad US dollar sank to a new six-week low as traders anticipated that the Federal Reserve would delay tightening monetary policy in the event of a US economic slump.
The most recent survey from the University of Michigan, closely followed by Fed policymakers, suggested a decline in consumer inflation expectations, causing the dollar to fall further towards the end of the previous week.