The sustained bullish performance from Bitcoin (BTC) and Ether (ETH) has increased the confidence of crypto investors and many are now looking deeper into projects that have strong fundamentals and offer real-world use cases.
This week investors turned their attention to Theta (THETA), a decentralized network that allows users to share bandwidth and computing resources in order to stream video. In the last two months THETA price has increased by more than 350%, rallying from $0.66 on Dec.10 to a new all-time high of $3.44 on Feb.13.
Three reasons for Theta’s recent price growth include the project’s plan to engage with DeFi through its Theta DEX, the addition of smart contract capabilities and NFTs to its blockchain and a growing list of high-level partnerships that will help bring quality content to its video streaming network.
Community engagement via non-fungible tokens
Following the success of CryptoKitties during the 2017-2018 bull market, non-fungible tokens (NFT) have become a recurring hot topic in the cryptocurrency sector. Theta’s addition of smart contract functionality is an attempt to capitalize on this trend.
The Theta Token Minter allows users to create new TNT-20 tokens without needing any smart contract experience. This simplifies the process of minting new assets on Theta blockchain, including custom streamer assets and new DApps with their own tokens.
The token minter platform also makes it easy for users to trade and transact in their newly minted tokens.
ThetaSwap DEX bring DeFi-sized yields
Decentralized finance has rapidly become a cornerstone of the cryptocurrency ecosystem prompting projects that are serious about their long-term viability to create their own DeFi applications.
Theta joined the party by launching it’s ThetaSwap v1 decentralized exchange onFeb.4. ThetaSwap allows users to swap Theta-based TNT-20 tokens and Theta Fuel (TFUEL) in a manner similar to the user experience on…