Thursday, June 1, 2023

What’s Driving Theta Mainnet 2.0’s Massive Rally?


Since March, certain high-profile partnerships have spurred four-figure percentage growth for Theta’s tokens in the run-up to the mainnet 2.0 launch.

Theta is a crypto-powered Esports broadcasting software. It gained 150 percent in the last two weeks as it prepares to launch its mainnet 2.0.

Since the ‘Black Thursday’ crash in mid-March, the Theta Token has risen roughly 1,300 percent.

A succession of partnerships with major media platforms appears to fuel Theta’s rise in addition to its upcoming technological advancements.

Theta is a crypto-powered 24/7 streaming service. It broadcasts live Esports, WPT competitions, and major blockchain and cryptocurrency conferences such as Consensus and the Crypto Asia Summit.

Theta’s unique rewards coin G Fuel reward users for their activity and participation on the network. Meanwhile, staking obtains the Theta Token.

Theta Token hit a new high of $0.185 on May 12 and has gained another 150 percent since then.

Theta Token’s gains aren’t as stunning when compared to BTC. But it has nevertheless risen 360 percent in six weeks. It went from less than 1,100 satoshis to attempt the market’s previous record high of 5,225 SATs.

Theta’s TFUEL token funds transactions on the Theta network (similar to gas on Ethereum). It also tops the top gaining crypto asset charts, with a five-fold increase in price from $0.0035 to $0.0153. TFUEL had gained 3,000 percent since the Black Thursday meltdown, when it hit a record low of $0.00078.

Theta Mainnet 2.0

Theta’s mainnet 2.0 upgrade slates for today, May 27. It may result in a temporary suspension of trade for Theta’s tokens, potentially disrupting the market’s current upswing.

Theta said that in the six days leading up to the launch, the quantity of relay nodes had climbed from 1,000 to 1,821. On-chain transactions have also risen in the last week, according to the company.

Theta also announced on May 22 that it had begun testing smart contracts on its testnet.

Theta said last week that customers in the United States will receive Samsung’s top Galaxy S20 phones preloaded with Theta’s streaming service. Samsung has said that it will profit from Bitcoin mining and usage. The majority of Samsung’s engagement with Bitcoin is based on proof-of-work mining. Because Samsung is one of the world’s largest computer chip manufacturers, which PoW mining utilizes, the rising demand for them is a method for the company to generate a lot of money.

Theta will be integrated into the Samsung Daily interface, which will upgrade to all existing Galaxy S10, S9, Note10, and Note9 handsets, totaling over 75 million.

The streaming app announced a cooperation with Gumi Cryptos on May 15 in order to access the Japanese market. Theta debuted its Android app for smart TVs on May 8.

Mary Santos
Mary Santos
Mary Santos has a degree in economics and after a successful career as an investment analyst, she found an interest in Cryptocurrency. Mary enjoys finding the latest scoop on crypto news.

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