The cryptocurrency market exploded last year, and all other tokens set a new record this year. One of the best performing tokens in that time has been THETA, the token that powers the Theta Network. THETA entered the coveted top 10 recently for the first time. In a recent video, trader Lark Davis delved into the token, detailing why he has been on such a bull run and what's next for the project, and his token.
As Crypto report recently reported, THETA pushed LINK out of the 10th position on the chart recently after a massive rally last year. THETA gained more than 19,000% in that time, 9 times this year alone, to reach a new record of $ 14.94. With a market capitalization of $ 12.3 billion, it is now more valuable than heavyweights like Bitcoin Cash, Stellar, and VeChain.
Theta Network is an incentivized peer-to-peer video delivery platform. It allows its users to earn tokens for sharing excess bandwidth and relieves video sharing platforms from excessive costs in content delivery. Being a proof-of-stake platform, it is very efficient and can process up to 1,000 transactions per second.
Theta Network operates using tuned internet upload bandwidth. It automatically rewards the people who provide it with TFUEL tokens, basically paying you to watch your favorite content.
Upcoming V3 update and Google and Samsung support
One of Theta's biggest selling points is its sponsors, Lark Davis told his 260,000 subscribers.
Certainly Google, Sony, Samsung, and Binance, among a few other large but lesser-known companies, are operating nodes running Theta Network. They are using business validation nodes. That's a big problem. Not many blockchains can boast of something like that.
The network has also generated great excitement at the prospect of launching its main network. It was originally intended to launch the mainnet in April, which generated a lot of interest in its token. However, the team behind the project announced that it would delay the launch for 3 months.
Updated Theta Mainnet 3.0 launch schedule – June 30, 2021: https: //t.co/eSDJ7gd8Hf
– Theta Network (@Theta_Network) March 24, 2021
The mainnet will introduce the staking and burning of Theta Fuel (TFUEL), a Gas-like token on Ethereum. It will also add NFT capabilities, a last minute addition that was the cause of the launch delay. "The key partnership opportunities in the NFT space have forced us to dedicate resources to building the next Theta NFT market in a broader approach and incorporating some of these fundamental elements into the Mainnet 3.0 core," stated the company to explain the delay.
Obviously, you have to include NFT in the mix, which is why they bring NFT. What are you doing without NFT on your blockchain?
Invest cautiously in THETA, warns Davis
THETA has proven to be a token that has real-world applications and is not just hype, Davis noted. It is one that "we will continue to hear a lot about in the future of the crypto economy."
However, the trader asked for caution when investing in the asset in its current run. It has seen a return of 9 times this year and is likely to see a correction soon. Even more significant is its delay in launching the mainnet.
Remember, V3 (the mainnet launch) was delayed 3 months. That's a long time in crypto land for people to pay attention and keep up with the hype. I suppose you will get some good entry points before the V3 release. But keep in mind that the V3 launch will arrive in June. You will likely see a new ad cycle heating up three to four weeks before the June launch.
(embed) https://www.youtube.com/watch?v=mA4Gyf8ZT8A (/ embed)