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Why THETA value is up 180% in two weeks, outperforming even Bitcoin

The Theta Community is a protocol that allows customers to look at digital content material, like esports, utilizing the blockchain. The protocol’s native token THETA rose by 180% from $0.867 to $1.92 inside two weeks between Dec. 20 and Jan. 2 to outperform even Bitcoin (BTC), which continues to soar to new value discovery highs.

THETA/USDT 1-day candle chart (Binance). Supply:

Theta Mainnet 3.0 roadmap was the primary catalyst

Usually, the native tokens of blockchain protocols are inclined to surge in worth following high-profile bulletins.

Theta launched its plans to introduce Theta Mainnet 3.0 within the spring of 2021. The protocol improve permits the community to seize dwell video and allow dwell streaming, along with viewing different movies on the platform.

The event group behind Theta Mainnet 3.0 defined that the “EdgeCast” know-how would enable dwell streaming with out a central server. The group defined:

“This new totally decentralized know-how stack provides the power to seize dwell video, transcode it in real-time, cache and relay dwell stream video information to customers globally — all via Theta’s P2P edge community run by hundreds of group members. Not a central server or service is used on this pipeline.”

Two main elements on this mainnet launch are the introduction of Elite Edge Nodes and TFuel burning.

Merely put, Elite Edge Nodes tokenize web bandwidth. By staking Theta Gas (Tfuel), which is one other native token of the Theta blockchain, customers can earn extra Tfuel. This course of known as uptime mining.

Tfuel was primarily airdropped to present Theta Token holders in 2019, when it launched. Theta Token is the governance token of the blockchain, and Theta gas is the gasoline token that’s used to pay transaction charges on the protocol.

The Tfuel burning mechanism may additional cut back the provision of Tfuel because it burns the provision of Tfuel with the revenues taken from charges on the protocol.

The mix of Elite Edge Nodes and Tfuel burning make Tfuel extra compelling, which naturally buoys the sentiment round Theta Token.

Different bulletins have been additionally key

On Dec. 19, Theta revealed the Theta Pockets Chrome extension on the Google Chrome web site. This primarily permits customers to make use of the pockets like Metamask, interacting with the Theta platform.

Previous to that, on Dec. 11, Theta accomplished a key protocol improve, releasing good contracts on the mainnet. The group mentioned on the time:

“The protocol improve is successful! New options together with good contracts and stake min to 1,000 THETA at the moment are carried out onchain, & the Theta Pockets and Explorer have been up to date.”

As a result of consecutive launch of highly-anticipated bulletins, Theta has been one of many best-performing cryptocurrencies alongside Polkadot (DOT). Analysts at Santiment famous:

“The top of 2020 and starting of 2021 have been excellent for #crypto, as probably the most worthwhile funding asset within the final decade, #Bitcoin, is getting ready to $30,000. Along with its 20% week, $DOT, $THETA, $DOGE, and $STX carried out even higher.”