Theta’s Price Hits New ATH Of $3.49: Price Analysis

Theta’s price hits a new all-time high of $3.49 thanks to a few reasons like big-name partnerships and the release of the ThetaSwap DEX so let’s read more about it in the latest altcoin news today.

The sustained bullish performance from ETH and BTC increased the confidence of crypto investors and many are looking deeper into the projects which have strong fundamentals and they also offer real-world use cases. This week the investors turned their attention to Theta which is a decentralized network that allows the users to share computing resources and bandwidth in order to stream videos. In the past two months, the Theta price increased by 350% and rallied from $0.66 to a new all-time high of $3.44.

Some of the reasons for the recent price growth include the project’s plan to engage with DeFi via Theta DEX and also the addition of the smart contract capabilities and NFTs to the growing list of partnerships that will bring more quality content to the video streaming network. Following the success of CryptoKitties in the 2017 and 2018 bull market, non-fungible tokens became the hot topic in the crypto sector and with Theta’s addition of smart contract functionality, it was time to capitalize on this trend.

The Theta Token Miner also allows the users to create new tokens without needing smart contract experiences which simplifies the process of minting new assets on the Theta Blockchain like custom streamer assets with new Dapps on their own tokens. DeFi became the main spot for the crypto ecosystem prompting projects which are serious about the long-term viability to create their own Defi applications and now Theta joined the party by launching its ThetaSwap v1 decentralized exchange which allows users to swap the TNT 20 tokens and Theta Fuel in a manner similar to the user experience in both SushiSwap and Uniswap.

The third reason for the improving fundamentals came from the increase in major partnerships. The team announced that Lionsgate will be joining the Theta ecosystem that is hoped to kick off with more night screenings that start in March. This platform also partnered with NASA which now hosts a channel that live streams rocket launches while World Series of Poker also joined and now offers non-stop coverage of the world poker tour.