Theta Network (THETA)
What is Theta?
What happens when you mix distributed video streaming with cryptocurrency rewards? Enter Theta, an innovative project which has fulfilled this very objective since publicly launching in March 2019. It was originally founded by Mitch Liu and Jieyi Long in 2017 who both had prior experience in gaming and VR technologies.
The project also boasts a stellar board of advisors, including Steve Chen, YouTube’s co-founder, and Justin Kana, Twitch’s co-founder. Theta is an open-source decentralized blockchain incentivizing users globally to run a decentralized video streaming service.
TFUEL is Theta’s primary utility token for rewarding users on its main streaming service, theta.tv; THETA is the governance token. You can receive TFUEL from sharing your spare bandwidth, staking, creating, and watching content on the platform.
Content-wise, Theta offers a mixed bag of numerous verticals ranging from movies, TV, music to esports and live peer-to-peer. Theta reached an all-time high price of $15.90 in April 2021 but is currently worth about $6.92. The cryptocurrency has a circulating supply of 1 billion tokens.
Is Theta a good investment?
Theta is a good investment for several reasons. For starters, it is in the top 30 of most traded cryptocurrencies according to ranking sites like CoinMarketCap. As a larger-capped worth several billion, it suggests longevity, familiarity, and massive trading volume due to the substantial interest in the services users derive from the platform.
Theta has an understandable and significant business concept: decentralizing video streaming, an approach to improving the corporate structure of centralized platforms like YouTube, Facebook, etc. It aims to make streaming fairer, cheaper, efficient, and, best of all, more rewarding.
Theta is a second-generation proof-of-stake blockchain, meaning it’s quite scalable and environmentally friendly compared to proof-of-work ledgers. Lastly, Theta allows for the development of dApps or decentralized applications.
Ultimately, Theta’s appeal is diverse, making it a potentially lucrative investment for the near future.
Should I buy Theta today: Crypto technical analysis for THETA
We can utilize a straightforward crossover strategy using the 200-day (orange line) and the 50-day moving averages to answer this question. With this approach, we need to meet certain criteria.
The first is for the 50 MA to clearly cross above the 200 MA as our first buy signal. Secondly, the price needs to be above at least one of the moving averages. By observing the chart, we can see Theta does meet this criterion, meaning it’s probably a good time to purchase it today.
Will Theta coin price hit $20 in a year?
Before Theta hit its all-time high price of $15.90, the market was in a nice uptrend, judging by the slope of the moving averages. After a brief dip from April 2021, we can see price has been in a range since mid-July.
Of course, investors would want Theta to challenge the all-time high soon. Yet, the range may just prolong this event until we move into trending territory again. To have more informed knowledge on whether Theta can reach $20 in a year, we can observe forecasting analysis from Digitalcoin who can provide a better picture.
The forecast suggests an $11.07 valuation for THETA in 2022. This prediction is reasonably realistic, but nothing is impossible with cryptocurrencies.
What is Theta’s coin price prediction for 2025?
Observing Theta’s movement on the weekly chart shows us price is still in a strong uptrend, despite the range observed on the daily time frame. So, where is Theta likely to be by 2025?
According to Digitalcoin, 1 THETA should be worth $18.13. Of course, it’s only a prediction. Could Theta surpass this figure a lot sooner than expected? Only time will tell.
The best way to buy Theta
Like most coins, the best way of buying THETA is through the countless recognized exchanges like Binance, Huobi, KuCoin, Crypto.com, OKEx, Gate.io, Bithumb, etc. These provide numerous trading options through an online trading platform.
If you prefer to buy or store THETA/TFUEL, you can choose from numerous hardware and software wallets, including THETA’s official wallet application.