Theta Network is a decentralized video streaming network based on blockchain technology. Its unique platform allows users to stream video content without any lags. Its product has been praised by users and is being used by leading electronics companies like LG and Samsung. It has an audited report and is listed on top tier exchanges.
Its market-wide fall
In spite of Theta’s market-wide fall, the company has fundamental reasons to remain bullish. It will launch its first NFT marketplace in 2022, add staking resources, and focus on gaming and live streaming. In addition, it has some big partnerships with companies like Samsung and Sony. In February, the company will airdrop TDrop governance tokens to community members.
Theta’s team is made up of seasoned media executives and technologists. The company is co-founded by Steve Chen, the co-founder of YouTube. They have a deep understanding of the video and entertainment industry, and their combined expertise puts Theta on the forefront of media blockchains.
Although Theta’s current focus is on video-on-demand services and entertainment-oriented applications, the company’s long-term vision is to be the decentralized end-to-end network for video and data. It will process all types of data and deliver applications, operating systems, and web content.
Theta’s innovation is set to disrupt the video industry just as YouTube did in 2005. Its decentralized network will reduce the need for expensive data centers. This also enables video aggregation platforms to focus on innovation and building unique business models. Theta’s market cap is currently over $1 billion.
After the hard fork, Theta recovered and traded around US$2.93 on 11 March. It then dropped to $1.05 again by the end of the week, before recovering to its previous high of $4410. If all goes well, Theta may be able to rise to $4.388 by 2024. However, if the company fails to meet its investors’ expectations, it will face liquidation. Further, without fuelling events, the price could even fall to $3.314 annually.
Theta Network’s THETA/USD price has fallen by 3.26% in the last 24 hours. It has gained 9.0% over the past week.
Theta Network’s future price prediction is quite optimistic for 2024. If all of the company’s projects are successful, the price of THETA will climb from $1.56 to $2.47, which represents an increase of 58%. The price of THETA would start the year at $1.56, and it would soar to $1.69 in the first six months of 2024. By the end of the year, the price of THETA would have reached $2.24. It would eventually dip to $2.36, before it would finish 2025 at $2.11, a mark that is well within reach of its maximum price target.
Theta is fully compatible with Ethereum, and it features Turing-complete smart contracts. These contracts enable new user experiences and attribution models for dApps. They also allow new payment-consumption models and trustless crowdfunding techniques. Theta’s ecosystem is ideal for the development of various Web3 apps, including decentralised exchanges, autonomous organisations, and many others. It also has a well-regarded validator and governing council.
This innovative streaming platform aims to provide technical solutions for decentralized video streaming. It aims to incentivize users by rewarding them with tokens for relaying videos to the platform. Theta’s price rally has already raised eyebrows, gaining over 1300%. With this price prediction, the price of THETA will continue to go up, so stay tuned for it.
There are several factors that will affect the price of THETA Network in the future. The network’s growth rate, the growth of the cryptocurrency market, and the overall health of the global economy will all play a role in its price. If these factors continue, THETA coin’s future price may exceed its current prime price.
Moving averages used to predict its price
Theta’s price has not broken any pivot points since 2021. Considering that this is a governance token, the moving averages used to predict the price of Theta are not necessarily indicative of future trends. Before relying on these forecasts, you should do additional research to determine their accuracy.
Theta is facing several challenges, such as competing with the likes of YouTube, and a growing market for metaverse applications. Nevertheless, its fundamentals remain strong. In the near future, it plans to launch the ThetaDrop NFT marketplace, add new staking resources, and focus on gaming and live streaming. Moreover, Theta has announced big-name partnerships in the video streaming industry.
Theta has been gaining traction thanks to its partnerships with high-profile companies, including Google, Samsung, and NASA. Its infrastructure is powered by Google, which allows users to become nodes running the network. As an added bonus, it also offers a reward for user activity on the network.
Theta’s technical analysis should take into account volatility and momentum indicators to determine if the current trend is likely to continue or shift. If it breaks a trend line, then it may be an entry point for a short seller. On the other hand, if momentum and price diverge, it’s a likely reversal spot.
Theta Network’s price is currently trading inside a horizontal range bound region. After forming a head and shoulders pattern, it has fallen into a consolidation stage. Bulls must maintain the upward momentum during the intraday trading session to ensure a sustained rise.