Theta Network (THETA): A Blockchain Network for Video Streaming
Launched in 2019, Theta Network is an innovative blockchain network that offers video streaming functionality.
What is Theta Network (THETA)?
The growing demand for sharing bandwidth and computer resources on a peer-to-peer basis is successfully addressed by Theta Network. Its main function is enabling the fully decentralized video streaming and data delivery, thus contributing to more rational and cost-efficient operations. The network relies on a native blockchain, making it independent of other blockchains. Theta’s functionality is appealing to all parties involved. Users receive access to the top-quality video content, while content creators can generate higher earnings, thus encouraging them to devote additional strengths to such developments. Various services can also collaborate with Theta Network to economize their costs by relying on its infrastructure. The THETA token allows users to participate in governance efforts as well as receive additional benefits proportional to their activity and contribution to the network’s sustainability.
THETA’s price is $2.80 with the circulating and maximum supply being equal 1 billion tokens. At the moment, this cryptocurrency has already issued all possible tokens, and the further increase in the demand for THETA will result in the proportional appreciation of its tokens. At the moment, THETA has the total market capitalization of $2.8 billion, making it the 43rd largest cryptocurrency in the market. As video streaming may continue to expand in the following years, the utilization of decentralized solutions and infrastructure should also increase. Thus, Theta Network possesses additional opportunities for the market expansion as it is one of the leaders in this segment.
Figure 1. Theta’s Ecosystem;Data source – Theta’s Twitter Account
Investing in THETA: Pros and Cons
The long-term demand for THETA will depend on a number of interrelated factors, such as the overall popularity of video streaming services, Theta’s functionality, competitors’ offerings, its integration with other major platforms and infrastructure, etc. THETA has reached the peak of its capitalization in April of 2021 with the September-November price dynamics being much less significant. However, there are different scenarios possible in the short run. The technical analysis may assist in specifying the major support and resistance levels that will determine the plausible directions of price movements in the following months.
Figure 2. Price Dynamics of THETA/USD (3-Months); Data source – CoinMarketCap
The significant support level is observed at the price of $2.2 with the major resistance level being at the price of $4.7. Overall, THETA’s price dynamics within the past three months was mostly negative, indicating the high likelihood of the price testing the support level of $2.2 in the following weeks. The future changes in THETA’s capitalization largely depend on its ability to maintain this support and break the channel upwards. In this case, investors can reliably open long positions with the expectation of the token’s price appreciation in the subsequent months. THETA may be included into the diversified crypto portfolio that will include crypto projects with different specializations. Theta Network possesses a considerable potential for the consistent development due to the stable amount of its tokens and sophisticated infrastructure.