Although THETA is not listed on Binance US or Coinbase, its performance has drawn a lot of glances lately. However, despite the upside in recent price action, THETA’s market capitalization fell nearly 4% and its 24-hour trading volume fell nearly 45%. While this is not good news, it also shows that this is the buy zone for THETA.
The price of the altcoin didn’t exceed $ 1.05 until after Dec. 22, being within 13% of its ATH of $ 14.99 at press time. Although it took 3 months for the price to drop from 80 cents to $ 15, the crypto asset is currently on an expanded price rally. The expectation is that the price will exceed $ 15 and soon hit another ATH.
THETA’s competitors have low market capitalizations based on data from CoinMarketCap. The project is currently the leader in the NFT market with $ 12.93 billion and daily volume of more than $ 570 million. In addition, THETA’s new partnerships have pushed the network ahead of its competitors, especially since THETA has had more active CPUs than Microsoft and NVidia combined over the past 50 days.
Source: CoinMarketCap
Now, the price movement and market capitalization of an asset are not as indicative of price development as the partnerships and activities on the network. With over 30,000 fringe nodes, THETA and the partnerships development updates resemble the early stages of XRP’s rise to # 3 (before 2021) before USDT, ADA and DOT moved forward.
THETA is not only going to the moon, but possibly to Mars with partnerships such as Google, NASA and SpaceX. The reinvention of data and video streaming via THETA is more important in the long term than the price chart. There are expectations for a 100x, which is in the top 10 unlike most other altcoins.
In fact, on-chain and technical analysts are more optimistic today than they were a month ago. Just as Grayscale took the lead with institutional funding in BAT, LINK, MANA, FIL, LPT, THETA’s institutional funding came from Sierra Ventures, Heuristic Capital, the VR Fund, and the GFR Fund, with over $ 100 million in THETA stuck.
The upcoming mainnet launch in June 2021 is the next event that is expected to have a positive impact on the price of THETA. The trading volume for the THETA / USDT market is currently optimistic. The outlook for April is also bullish, especially as market capitalization continues to grow. This will be an important metric to look out for in the future as it signals an increase in volatility and liquidity.
Ergo, one can expect THETA to reach a different ATH or local peak based on the assessments of the traders on the spot exchanges.
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