After recording an all-time high during 2021, the theta value decreased by 25% in less than 24 hours until March 25 after news of the project’s main network launch being delayed by two months.
Theta is a blockchain-based video streaming platform that’s ready for the official Mainnet 3.0 launch next month. On March 24, Theta team announced that they had delayed the launch of the mainnet until the end of June.
Theta lost a quarter of its value early Thursday morning, down from $ 14.43 to $ 10.73.
It appears the cause of the delay on the mainstream network was a late code review and a last-minute decision to include the NFT market in an upcoming update.
“The significant partnership opportunities in the NFT domain require us to leverage the resources to expand the upcoming Theta NFT market more broadly and incorporate some of these pillars into the core of Mainnet 3.0,” Theta said.
Given the miraculous boom in theta during the first three months of 2021, it may not be surprising that token prices have finally fallen. From January 1 to March 24, when the dollar rose from $ 1.36 to $ 14.43, the token showed a 961% increase.
Theta sister, theta fuel (TFUEL), which makes up half of the double token system, has also seen significant growth over the past three months. TFUEL is up 1.921% since January 1, but it also lost a quarter of its value Thursday morning and fell 25.6% overnight.
Four hours in particular after Theta and Theta Fuel lost 25% of their values, they both saw a big jump, gaining 17% and 20%, respectively.