Here’s Why Theta Could Be a Breakout Star in 2022
Theta’s price is still plunging 73% from its ATH. However, there is still a chance it will be rising again soon. 2021 saw many tokens hit new all-time highs and later sail down, making traders look for greener pastures.
Theta, a DEX platform, was no exception. However, it might be worth keeping an eye on it in 2022. Theta allows its users to earn rewards by donating their computing resources to the network. Theta token began its run in December 2020. After it rose about 2468% in profit from its initial start price of $0.621 to $15.90.
In this article, we will be looking at a few reasons that will make Theta remain bullish all year 2022. Among these include the launch of the Thetadrop NFT marketplace, the new staking resources, and the general fixation on live streaming and gaming.
Theta: Tokenomics Recently
With big firms like Google and Sony Europe also joining the network, Theta has the grant for its second patent on decentralized blockchain and information delivery designs. According to traders and analysts, Theta has dropped from its all-time high of $15.90 to about $5.23.
By December 27, 2021, the token had slid down to its current significant support of $3.80 as the crypto market, in general, fell under pressure. The token was trading $3.91 with a revolving supply of about 1 trillion tokens at writing. Even with the fatal reversal, Theta has reasons why holders and traders should be bullish in the long run, especially in 2022.
ThetaDrop NFT Marketplace
ThetaDrop marketplace is one of the most significant developments for Theta in 2022. The launch of the NFT marketplace will be taking place in February 2022. Theta’s members and holders will enjoy the TDrop governance tokens, which Theta plans to airdrop from 1st February 2022.
ThetaDrop plans to release about 20 billion tokens supply, distributed in four years to members of the Theta community who provide the liquidity in mining or stake Theta TFUEL and TDrop on the network.
Additionally, the Theta networks are also experiencing a handful of new projects launching on their blockchain, including the OpenTheta NFT marketplace and the Voltaswap DeFi platform, which will be supporting the swapping of the Theta-based tokens.
Looking at how NFT has surged in price with some selling to the tune of about 200 million dollars, the launch of the marketplace will make the price of Theta surge to new heights. This is because of the transactions that will take place on the Theta network. The marketplace will gain traction for many investors and traders, considering the launch of the Voltaswap DeFi.
The Staking Resources Improves
Theta is improving on the access of staking on its platform. This is potentially going to put Theta and its TFUEL on a bullish run in 2022. Before, users needed to stake a minimum of 10000 THETA to use the node and help protect the network and the creation of the GPooL and, most recently- the Thetaboard. Thetaboard gives THETA and TFUEL holders the staking access for some commission.
However, members will now stake a minimum of about 1000 THETA with the improvement. This amount will attract many stakers to join the network, initially locked out due to Theta’s price running to $15 in early 2021.
Furthermore, Thetaboard is also launching its NFT marketplace, which will help grow the NFT ecosystem, including the NFT collections by Katy Perry.
The Video Live Streaming and Gaming
The gaming industry swept the crypto industry in 2021. The trend is still strong in 2022, especially with classic games like Axie Infinity which has risen billionaires from scratch, some owning mansions and lavish homes. Theta will also be soaring on the wings of blockchain gaming and video streaming, especially with its partnership with Samsung and Sony firms.
The members using the Theta. tv interface will earn rewards by viewing community members playing games like; the witcher 3, wild hunt, and others. They get to donate and earn.
The protocol will also benefit from multiple big names partnerships like Samsung. Theta. tv app loaded on smart TVs. Users will also receive TFUEL rewards when watching their choice shows. All these partnerships, including Google and sony, act as node validators for the network. Blockchain is widely gaining traction and mass adoption.
The blockchain-based video streaming network now has its DEX- Thetaswap- Theta’s first DEX on its blockchain. Thetaswap v1 users will be able to swap Theta-based tokens. With the launch of the DEX, the project is hopeful that users will earn more. Theta is a blockchain-based video streaming platform that focuses on its mainnet 3.0 launch.
Theta Price Analysis(Theta/USD)
Theta has been on a descending triangle pattern for the past month. The price has moved on on a 20-week exponential moving average, and the relative strength index is in the negative zone. This is indicative of the fact that the slightest resistance will force the price to the downside.
The $3.8 zone looks to be strong support. However, the 20-week EMA becomes more critical to watch for in the short bull run. Furthermore, if the price bounces on the 20 week EMA, the bears will be selling on a minor rally, increasing the possibility of a break below the current support level.
Contrarily bulls might drive the price above the 20-week EMA. This is the first sign that selling pressure is reducing and that the pair might be rising to the next 50-week EMA at $6.85. On January 11th, 2022, the bulls began gathering their momentum on the dips. With this rate, the price might break the 20-day EMA at $4.41, completing a double bottom pattern in the short term with targets at $8.05.
The bull rally continues strongly from the $ 3.9 support zone up 25% and is likely to hit a new all-time high above $ 8.9.
Final Thoughts: Theta Price Prediction in 2023
Theta, a token that powers the decentralized video delivery network, also enables the new blockchain. The token is built to empower a decentralized streaming network, allowing Dapps to get built on its platform.
Many investors are becoming more well-versed with social networking and video tools. Therefore the need for ad-blocking software that will run on more than 600 million smartphones and computers is necessary. Users on Theta earn money by viewing ads monitored by the brave browser.
Theta price history has been wrought with minor changes dating back to 2020, with prices starting at $0.6. Its prediction has surpassed the mark kept by the analysts and traders. The trend has equally been so aggressive, leading to a promising potential path.
Based on one year’s historical price information, Theta shows a surge in 2021 that has also seen it reversing towards the last quarter. Many analysts see that irrespective of its adoption, Theta is rallying to about $21 by the end of 2022 and consequently to $60 by 2024, when the next crypto bull rally is expected.
Moreover, this price might reach in a short period because of the projects that Theta is undertaking on its blockchains like the Thatswap and the NFT marketplace. It is still highly bullish and an excellent investment to launch as an investor. Interested investors can buy Theta using the following steps
- Open an account online on best exchanges like Binance, Coinbase eToro, and buy Ethereum or any other token that you can exchange for Theta
- you will require a wallet. In this case, the Theta wallet is recommendable. You can access it for free on your PC and create it in minutes.
- Buy Theta on the exchange. Binance supports the exchange Theta/BTC, Theta/USDT. You can trade, sell or convert it.
* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.