Several first-tier blockchains are facing the crypto winter this early in the year, including Oasis Network (ROSE) and Fantom (FTM).

ROSE is up 16.5% in the last 24 hours. Tier 1 blockchain was also up at the beginning of the year: 34.5% in the last 14 days.

The Oasis Network is a privacy-focused blockchain that uses a proof-of-stake (or PoS) consensus algorithm to process transactions. As with Ethereum, developers can develop applications on Oasis with these features included.

Part of the reason behind the rise in the price of ROSE is a recent $200 million contribution to the network by Binance Labs.

“We couldn’t be more excited that Binance Labs has decided to dedicate such a significant contribution to our Ecosystem Fund. They are valued partners and together we can create new frontiers in the blockchain sector,” said Jernej Kos, Director of the Oasis Foundation.

Fantom (FTM) rose 24.2% in the last 24 hours. FTM is also defying the broad crypto market slump in 2022, up 31.6% over the past two weeks.

Fantom is another alternative to Ethereum as it features a PoS blockchain network with high throughput.

The recent rise has not gone unnoticed.

Austin Barack of crypto investment firm Coinfund said that FTM “has achieved incredible growth across all metrics” and that he “expects that growth to continue as Fantom is positioned as one of the most exciting [redes] first layer for 2022”.

Other tier-one blockchains such as Harmony (ONE) and Near (NEAR) have also increased, up 36.8% and 35.6% in the last two weeks, respectively.

However, the rest of the crypto market is not so healthy.

The new crypto winter?

The most well-known cryptocurrencies on the market have dropped sharply since the New Year, causing observers to speculate whether the industry is entering a new crypto winter.

Despite up 5.7% in the last 24 hours, bitcoin (BTC) is down 8% in the last 14 days.

Between the unrest at the mining core in Kazakhstan, the Fed’s plans to raise the interest rate and a backlash to Crypto.com’s propaganda featuring Matt Damon, the leading cryptocurrency is generating controversy from all sides.

Bitcoin is not the only cryptocurrency that is experiencing problems. Ether (ETH) has also had a rough start to 2022, dropping 11.4% over the past two weeks. However, the asset managed to rise 8.8% in the last 24 hours.

It remains to be seen whether this indicates a rally or the true start of a stable downtrend.

*Translated and edited by Daniela Pereira do Nascimento with permission from Decrypt.co.

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