More

    3 reasons why Theta price hit a new all-time high at $3.49

    The sustained bullish performance from Bitcoin (BTC) and Ether (ETH) has increased the confidence of crypto investors and many are now looking deeper into projects that have strong fundamentals and offer real-world use cases. This week investors turned their attention to Theta (THETA), a decentralized network that allows users to share bandwidth and computing resources in order to stream video. In the last two months THETA price has increased by more than 350%, rallying from $0.66 on Dec.10 to a new all-time high of $3.44 on Feb.13.THETA/USDT 4-hour chart. Source: TradingViewThree reasons for Theta’s recent price growth include the project’s plan to engage with DeFi through its Theta DEX, the addition of smart contract capabilities and NFTs to its blockchain and a growing list of high-level partnerships that will help bring quality content to its video streaming network. Community engagement via non-fungible tokensFollowing the success of CryptoKitties during the 2017-2018 bull market, non-fungible tokens (NFT) have become a recurring hot topic in the cryptocurrency sector. Theta’s addition of smart contract functionality is an attempt to capitalize on this trend.The Theta Token Minter allows users to create new TNT-20 tokens without needing any smart contract experience. This simplifies the process of minting new assets on Theta blockchain, including custom streamer assets and new DApps with their own tokens. The token minter platform also makes it easy for users to trade and transact in their newly minted tokens. ThetaSwap DEX bring DeFi-sized yields Decentralized finance has rapidly become a cornerstone of the cryptocurrency ecosystem prompting projects that are serious about their long-term viability to create their own DeFi applications. Theta joined the party by launching it’s ThetaSwap v1 decentralized exchange onFeb.4. ThetaSwap allows users to swap Theta-based TNT-20 tokens and Theta Fuel (TFUEL) in a manner similar to the user experience on Uniswap and SushiSwap. The DEX allows NFT holders the opportunity to trade their collectibles in a simple and secure manner through the integration of the Theta Chrome wallet extension available on both the Chrome and Brave browsers. Future upgrades to ThetaSwap will add support for wrapped tokens, including a wrapped form of Theta similar to wETH or wBTC, along with the possible addition of several stablecoins whose issuers have already expressed interest in minting TNT20 forms of their assets. Big-name partnerships push THETA price higherThe third reason for THETA’s improving fundamentals comes from the increase in big-name partnerships.On Feb.9 the team announced that entertainment powerhouse Lionsgate, home to popular movie titles like John Wick and The Hunger Games, would be joining the Theta ecosystem. The partnership will kick off with movie night screenings beginning in March. Cointelegraph Markets Pro – VORTECS™ Score (green) vs. THETA priceData from Cointelegraph Markets Pro shows that Theta’s price was decreasing on Feb.6 following a bullish breakout which appears to be the result of ThetaSwap’s release on Feb.5. The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.On Feb.9 news of the Lionsgate partnership broke and by Feb.10 the VORTECS ™ score increased to 80, a move which was followed by THETA’s current rally to its all-time high at $3.49.Other noteworthy Theta partners include NASA, which hosts a channel that live streams rocket launches and most recently a live feed from a Mars rover. World Series of Poker has also joined with Theta and its channel offers non-stop coverage of the world poker tour. A rising tide lifts all boatsTheta’s entrance into DeFi, the steady addition of big-name streaming partners and the strength of the current crypto bull market all point to a growing ecosystem that is only beginning to display its true potential. With Delaware’s Department of State showing a recent filing for a Grayscale Theta Trust LLC, the altcoins price appreciation may just be getting started as Bitcoin and altcoins are increasingly catching the eye of the mainstream investor. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

    Related articles

    Comments

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Share article

    Latest articles

    Newsletter

    Subscribe to stay updated.

    bitcoin
    Bitcoin (BTC) $ 63,048.00
    ethereum
    Ethereum (ETH) $ 2,316.79
    binance-coin
    Binance Coin (BNB) $ 548.79
    xrp
    XRP (XRP) $ 1.67
    tether
    Tether (USDT) $ 0.997944
    cardano
    Cardano (ADA) $ 1.37
    polkadot
    Polkadot (DOT) $ 40.60
    uniswap
    Uniswap (UNI) $ 33.44
    litecoin
    Litecoin (LTC) $ 258.37
    dogecoin
    Dogecoin (DOGE) $ 0.121601
    chainlink
    Chainlink (LINK) $ 35.23
    bitcoin-cash
    Bitcoin Cash (BCH) $ 765.29
    stellar
    Stellar (XLM) $ 0.599150
    theta-token
    Theta Network (THETA) $ 11.78
    usd-coin
    USD Coin (USDC) $ 0.993244
    filecoin
    Filecoin (FIL) $ 164.58
    vechain
    VeChain (VET) $ 0.158231
    tron
    TRON (TRX) $ 0.133098
    wrapped-bitcoin
    Wrapped Bitcoin (WBTC) $ 63,035.00
    klay-token
    Klaytn (KLAY) $ 2.84
    eos
    EOS (EOS) $ 7.13
    solana
    Solana (SOL) $ 24.91
    crypto-com-chain
    Crypto.com Coin (CRO) $ 0.240637
    terra-luna
    Terra (LUNA) $ 15.31
    compound-ether
    cETH (CETH) $ 46.50
    monero
    Monero (XMR) $ 313.55
    iota
    IOTA (MIOTA) $ 2.01
    cosmos
    Cosmos (ATOM) $ 23.11
    okb
    OKB (OKB) $ 20.34
    bitcoin-sv
    Bitcoin SV (BSV) $ 285.72
    binance-usd
    Binance USD (BUSD) $ 0.991985
    bittorrent-2
    BitTorrent (BTT) $ 0.007661
    aave
    Aave (AAVE) $ 392.52
    ftx-token
    FTX Token (FTT) $ 54.44
    tezos
    Tezos (XTZ) $ 6.21
    avalanche-2
    Avalanche (AVAX) $ 36.18
    neo
    NEO (NEO) $ 64.11
    elrond-erd-2
    Elrond (EGLD) $ 232.01
    compound-usd-coin
    cUSDC (CUSDC) $ 0.021763
    kusama
    Kusama (KSM) $ 442.02
    algorand
    Algorand (ALGO) $ 1.41
    huobi-token
    Huobi Token (HT) $ 20.32
    nem
    NEM (XEM) $ 0.399599
    pancakeswap-token
    PancakeSwap (CAKE) $ 22.55
    thorchain
    THORChain (RUNE) $ 14.31
    cdai
    cDAI (CDAI) $ 0.021228
    holotoken
    Holo (HOT) $ 0.017329
    dai
    Dai (DAI) $ 0.995889
    hedera-hashgraph
    Hedera Hashgraph (HBAR) $ 0.367169
    havven
    Synthetix Network Token (SNX) $ 18.79