One of the major protocols of layer one that has been gaining some traction in the last couple of months has been ROSE- which is a blockchain-based on privacy. It is built using the Cosmos SDK and is entirely designed for some open finance and a very responsible economy of data.
As it goes, higher costs of the transaction have been quite a major thorn in the side of most of the top protocols of blockchain for years with both Ethereum and Bitcoin seeing the average cost of conducting transfers of its tokens increase staggeringly during moments of network congestion.
ROSE Has Been Helped By Some Powerful Investors
According to data received from TradingView and Cointelegraph Markets Pro, it has been understood that ever since touching a low of $0.169 on the 28th of October, the price of ROSE increased by 176.5% to a new record high of around $0.466 on the 21st of November, and is currently on the move after it received a spike of 70% since the 20th of December.
As it stands, there are a couple of reasons behind the building momentum as well as the price movement of ROSE which also includes the launch of an Oasis ecosystem fund of $160 million, which would see the introduction of the first NFT project on this network along with a rapidly increasing community coupled with an ecosystem of decentralized applications.
One of the major developments for ROSE that helped in its price rally was the announcement on the 17th of November which revealed that an Oasis ecosystem fund of $160 million had been designed to help the founders, as well as the project managers, build upon the Oasis Network and the many ecosystems that it possessed. This fund for development has seen some major backing by a host of investors and partners like Hashed, Draper Dragon, FBG, Pantera Capital- with the main goal of helping the ecosystem expand throughout multiple sectors.