Theta token (THETA), the native token on the Theta dispersed video streaming platform, has actually seen huge rate gains in current weeks, with financiers expecting a significant network upgrade in the near future as the most likely motorist of the rally.
Since press time on Tuesday (11: 21 UTC), THETA, ranked 28 th by market capitalization, was up by 25% over the past 24 hours, and 132% over the past 7 days. The rate increased by 300% in a month and 253% in year. The strong gains made THETA and its associated theta fuel (TFUEL) token the second- best and best entertainer, respectively, for the week amongst the top 100 cryptoassets by market capitalization, information from Coinpaprika revealed.
THETA’s remarkable gains over the past couple of days basically leaves bitcoin (BTC) in the dust behind it, with the primary digital property seeing rise of 1.5% over the past 24 hours, and a decline of more than 10% in the past 7 days.
Although it is constantly doubtful how sustainable a parabolic rally like the one we see in THETA now is, there are some possible elements that can assist discuss the rise.
Amongst these, is the upcoming launch of their “mainnet 2.0,” which is stated to represent a significant advance for the security, operating, and decentralization of the blockchain platform.
According to a blog site post from the Theta team, “community-run Guardian Nodes” will, after the upgrade, take a direct role in block production, while likewise comprising a “second layer of defense” for thenetwork As a result, “no single group or entity will control the majority of THETA staked,” the team stated, while including that this represents a “significant milestone toward Theta’s decentralization.”
Theta’s Mainnet 2.0 is anticipated to introduce on Wednesday May 27.
The most recent rate gains for THETA likewise follows it was reported that the video streaming service may be included as among the material service providers offered in the Samsung Daily platform, pre-installed on every Galaxy S20 smart device delivered in the United States.
Since press time on Tuesday, nevertheless, the original announcement of the new collaboration in between Theta and Samsung has actually been erased by theteam Inquired about the matter in a Telegram chat today, Theta Labs‘ Head of Method, Wes Levitt, said that they did so to prevent “jumping the gun on an official Samsung Daily announcement of new partners,” which they would rather “wait until THETA.tv is released in the app.”