The sustained bullish performance of Bitcoin (BTC) and Ether (ETH) has boosted the confidence of crypto investors, and many are now looking more deeply at projects with a strong foundation and real use cases.
This week, investors turned their attention to Theta (THETA), a decentralized network that allows users to share bandwidth and computer resources to stream video. In the last two months, the THETA price has risen by more than 350%, rising from $ 0.66 on December 10 to a new high of $ 3.44 on February 13.
Three reasons for Theta’s recent price growth include the project’s plan to connect with DeFi through its Theta DEX, the addition of smart contract capabilities and NFTs to its blockchain and a growing list of high-level partnerships that will help bring quality content to its video streaming. network.
Community involvement through non-fungible signs
Following the success of CryptoKitties during the bull market 2017-2018, non-fungible tokens (NFT) are a recurring topic in the cryptocurrency sector. Theta’s addition of smart contract functionality is an attempt to take advantage of this trend.
The Theta Token Minter enables users to create new TNT-20 tokens without any smart contract experience. This simplifies the process of creating new assets on Theta blockchain, including custom streamer assets and new DApps with their own tokens.
The token minter platform also makes it easy for users to trade and trade their newly assembled tokens.
ThetaSwap DEX delivers returns on DeFi size
Decentralized finance has quickly become a cornerstone of the cryptocurrency ecosystem, giving rise to projects that are serious about their long-term viability to create their own DeFi applications.
Theta joined the party by launching its decentralized exchange ThetaSwap v1 on Feb.4. With ThetaSwap, users can exchange Theta-based TNT-20 tokens and Theta Fuel (TFUEL) in a way similar to the user experience on Uniswap and SushiSwap.
The DEX offers NFT holders the opportunity to trade their collectibles in a simple and secure way by integrating the Theta Chrome wallet available in the Chrome and Brave browsers.
Future upgrades to ThetaSwap will provide support for wrapped tokens, including a wrapped form of Theta similar to wETH or wBTC, along with the possible addition of several stable coins whose issuers have already shown interest in creating TNT20 forms of their assets.
Big name partnerships push THETA price higher
The third reason for improving the fundamental aspects of THETA is the increase in big-name partnerships.
On February 9, the team announces that the entertainment powerhouse Lionsgate, home to popular movie titles such as John Wick and The Hunger Games, will join the Theta ecosystem. The partnership will begin with film screenings starting in March.
Data from Cointelegraph Markets Pro shows that Theta’s price fell on February 6 after a bullish outbreak, apparently due to ThetaSwap’s release on February 5.
The VORTECS t score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions, derived from a combination of data points, including market sentiment, trading volume, recent price movements and Twitter activity.
On February 9, the news of the Lionsgate partnership broke out and by February 10, the VORTECS t score had risen to 80, a step followed by THETA’s current rally to its highest point of $ 3.49.
Other notable Theta partners include NASA, which offers a channel that launches live rockets and recently a live feed from a Mars rover. World Series of Poker has also joined Theta and its channel offers uninterrupted coverage of the World Poker Tour.
A rising tide lifts all boats
Theta’s entry into DeFi, the steady addition of big-name streaming partners and the strength of the current crypto-bull market all point to a growing ecosystem that is only beginning to show its true potential.
Since the State Department in Delaware recently filed an application for a Grayscale Theta Trust LLC, the price increase of altcoins may just begin as Bitcoin and altcoins increasingly attract the attention of the general investor.
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