Since the beginning of the year 2020 and 2021, the prices of Bitcoin (BTC) and Ethereum (ETH) are experiencing all-time highs. Both the top cryptocurrencies are enjoying vast growth and adoption rate from the mainstream institutions as well.
This bull run of the currencies has not only worked in favor of the major currencies. But the bull-run has expanded itself all across the cryptocurrency industry. Every day, there is a new cryptocurrency making into the headlines for hitting all-time highs with respect to market capitalization or price.
Due to the major cryptocurrencies and their bullish trend, investors are now confident and trusting other cryptocurrencies as well. With time, investors have started moving forward and they are now exploring more currencies and assets in the industry.
Every week, the industry announces the launch of a new cryptocurrency or a new product is launched by already running firms. There are currently more than five thousand cryptocurrencies in the entire industry and it is not coming to an end.
Investors have become used to cryptocurrencies and they know exactly what they need to look for when searching for a new cryptocurrency asset to invest in.
As the utilization of cryptocurrencies continues to grow in the real world, investors are investing more in digital assets that offer real-world use cases as well as practice strong fundamentals.
This week, the stars have started shining over Theta (THETA), as the investors have started rallying on the token. The decentralized network gathering a lot of attention and adoption due to the service and benefit it has to offer.
THETA is a decentralized network that enables users in sharing their computing resources and bandwidth. The said resources are gathered with the aim to stream videos that in return award the providers with THETA for their contribution.
According to the figures, THETA has managed to gain an enormous amount of investment and adoption rate. The figures suggest that the platform has managed to grow over 350% in the past couple of months. The on-chain data analyzing firms suggest that back on December 10, 2020, the price of THETA was $0.66. After two months, and as of February 10, 2021, the prices for THETA have rallied and are currently sitting at $3.44.
According to analysts, there are three major factors behind the surge in the price of Theta (THETA). The first factor behind the success of THETA is that it interacts with the community through non-fungible tokens (NFT) functionality.
The second reason is that the ThetaSwap DEX has started bringing yields to the platform that are comparable to the size of decentralized finance (DeFi).
The third factor is that the platform as managed to partner with huge and popular names such as Lionsgate, which is a studio responsible for major movie titles including “The Hunger Games” and “John Wick”.