The ongoing upbeat dynamics in Bitcoin (BTC) and Ether (ETH) have boosted investor confidence in cryptocurrency, and many are now taking a closer look at projects that have strong foundations and offer real problems of interest.
This week, investors turned their attention to Theta (THETA), a decentralized network that allows users to share bandwidth and computing resources for video streaming. Over the past two months, THETA has grown more than 350%, from $ 0.66 on December 10 to $ 3.44 at full rate on February 13.
Three reasons for the recent price hikes for Theta include a project plan to partner with DeFi through Theta DEX, the addition of smart contract and NFT options to the blockchain, and a growing list of high-end partnerships to help deliver high-quality video streaming content. networks.
Sharing the community with non-exchangeable tokens
Following the success of CryptoKitties during the 2017-2018 bull market, non-fungal tokens (NFTs) have become a recurring feature in the cryptocurrency sector. Adding theta to smart contract functionality is an attempt to capitalize on this trend.
Theta Token Minter allows users to create new TNT-20 tokens without having to try a smart contract. This simplifies the process of creating new assets on the Theta blockchain, including custom broadcast resources and new applications with their tokens.
The token mining platform also allows users to shop and trade new tokens.
ThetaSwap DEX Delivers DeFi-sized Profitability
The decentralized economy is quickly becoming the cornerstone of the cryptocurrency ecosystem, prompting projects that are serious about its long-term viability to create their own DeFi applications.
Theta joined the party by launching the ThetaSwap v1 decentralized platform on February 4th. ThetaSwap allows users to toggle TNT-20 codes based on Theta and Theta Fuel (TFUEL) similar to the Uniswap and SushiSwap user interface.
DEX gives NFT holders the ability to trade their assets in an easy and secure way through the integration of the Theta Chrome wallet extension, which is available in both Chrome and Brave.
Future updates to ThetaSwap will add support for encapsulated tokens, including a wrapped shape from Theta similar to WETH or wBTC, as well as the ability to add more folded coins, issuers of which have already shown interest in engraving TNT20 models for their origin.
Big Name Partnerships Increase THETA Prize
The third reason THETA is improving is because of the growing number of large partnerships.
On February 9, the team announced that entertainment company Lionsgate, which makes popular films like John Wick and The Hunger Games, will join the Theta ecosystem. The partnership begins with movie nights in March.
Cointelegraph Markets Pro – VORTECS ™ Glasses (Green) vs. THETA Price
Cointelegraph Markets Pro data shows that Theta price dropped on February 6 following a bullish breakout that appears to be the result of the February 5 release of ThetaSwap.
The VORTECS result, excluding Cointelegraph, is a mathematical comparison of historical and current market conditions taken from a range of data points, including market sentiment, trading volume, recent price movements, and Twitter activity.
News of the Lionsgate partnership broke on February 9, and by February 10, VORTECS ø had climbed to 80, followed by THETA’s current high of $ 3.49.
Another notable partner of Theta is NASA, which has a channel that offers rocket launches and the latest live streams from a Mars probe. World Series of Poker has also joined Theta and the channel offers 24/7 coverage of the World Series of Poker.
The tide raises all boats
Theta’s entry into DeFi, the constant addition of big name inflow partners, and the current strength of the cryptocurrency market in a growing ecosystem are just starting to show their true potential.
As a recent file by the Delaware Department of State’s Grayscale Theta Trust LLC shows, altcoin prices can only begin to rise when bitcoins and altcoins increasingly attract the attention of the average investor.