The bullish performance of Bitcoin (BTC) and Ether (ETH) has boosted crypto investors’ confidence, and plenty of them are now investing in projects with solid fundamentals and real-world applications.
This week, investors focused on Theta (THETA), a decentralized network that permits users to pool bandwidth and processing resources to stream movies. Furthermore, THETA’s price has risen by almost 350% within the last two months. All in all, rising from $0.66 on December 10 to $3.44 on February 13, a brand new all-time high.
Three Factors on Theta’s recent price increase
- the project’s goal to integrate with DeFi via its Theta DEX
- the addition of smart contract capabilities and NFTs to its blockchain
- a growing list of high-level alliances
There was a success of CryptoKitties during the 2017-2018 market. Moreover, non-fungible tokens (NFT) became a recurring hot subject within the cryptocurrency field. The addition of smart contract capability to Theta is an endeavor to benefit from this trend.
Users with no prior knowledge of smart contracts can use the Theta Token Minter to mint fresh TNT-20 tokens. This makes creating new assets on the Theta blockchain. As a matter of fact, this includes unique streamer assets and new DApps with their tokens, it is much easier. Therefore, users can now trade and transact in their newly created tokens through the token minter platform.
Decentralized finance has swiftly become a cornerstone of the bitcoin ecosystem. In addition to this was driving projects to develop DeFi apps that are devoted to long-term viability.
The decentralized exchange ThetaSwap v1 joined the party on February 4th. ThetaSwap is a platform similar to Uniswap and SushiSwap that allows users to swap TNT-20 tokens and Theta Fuel (TFUEL).
The DEX allows NFT holders to trade their collectibles simply and securely by combining the Theta Chrome wallet plugin. Furthermore, this is available on both Chrome and Brave browsers.
Future updates to ThetaSwap will include support for wrapped tokens, like a wrapped version of Theta similar to wETH or wBTC. It will also include the possibility of adding numerous stablecoins whose issuers have expressed interest in minting TNT20 versions of their assets.
Theta Welcomes Lionsgate Studio
Theta announced on February 9 that Lionsgate would be joining the ecosystem. Lionsgate is the studio behind popular films such as John Wick and The Hunger Games. The collaboration will conduct movie nights beginning in March.
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NASA as a Major Theta Partner
NASA provides a channel that broadcasts live rocket launches and, more recently, a live feed from a Mars rover. Theta has also collaborated with the Planet Series of Poker, and their channel currently broadcasts 24/7 coverage of the tournament.
Theta’s entry into DeFi, along with the constant acquisition of big-name streaming partners and the current crypto bull market’s vigor, all point to a burgeoning ecosystem that’s only beginning to show its actual potential.
The altcoin price appreciation may only be beginning, as Bitcoin and altcoins are swiftly catching the attention of mainstream investors, as seen by a recent registration for a Grayscale Theta Trust LLC in Delaware’s Department of State.
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