THETA as an altcoin started trading around three years back on January 17, 2018. IT started with a price of $0.1560 and today trades at $3.37 at the time of writing. It is currently circulating at 870,502,690 out of the planned 1,000,000,000. The currency has seen a 9.67% change in the last 24 hours and 10.86% during the last week itself.
It currently has a market capitalization of $3.3 billion and is one of the biggest gainers in 2021. This massive gain has occurred during February, since it started with a price of $2.2 on February 5, 2021. It rose about 18% on the same day. While it declined briefly, it has only been picking up and is now up to 58% since February 5.
Uniqueness of THETA
Theta blockchain is a unique one as it was designed to incentivize the sharing of bandwidth across the network and for users to contribute their excess bandwidth and computing resources in exchange for token rewards. These were done to tackle various challenges the video streaming industry faces today via an innovative new blockchain. The main problem it tackles is the bottleneck of traditional content delivery pipelines. Theta users enjoy access to a global infrastructure for video content and data delivery. This open-source project runs on the newly promoted Multi-level BFT blockchain consensus.
How Technicals Place THETA
The RSI for 14 days places the currency at 60.13 which is a NEUTRAL zone but will get strengthened by the EMA and SMA of the corresponding period. The SMA and EMA with 2.19 and 2.14 indicate a strong BUY signal. While the Average Directional Index of 14 days points towards a SELL, it is important to note that the 14-day and indicators are otherwise strong.
THETA hit an all-time high of $3.49 a few days back on the back of big partnerships and the release of ThetaSwap DEX. The addition of the smart contract functionalities and NFTs as partnerships is now bringing it to a serious level of performance.