How THETA Entered Top-Ten Crypto List Unsettling Chainlink (LINK)?

Published by

Published 23 Mar, 2021 | 03:32:38 PM UTC

How THETA Entered Top-Ten Crypto List Unsettling Chainlink (LINK)?

In a major development in the altcoin space, lesser-known cryptocurrency THETA has made its way to the top-ten cryptocurrencies unsettling the dominant Chainlink (LINK) at the #10 position. The THETA price is 18% up as of writing this story trading at $11.95 and its market cap at $11.9 billion.

A majority of the price rally has come only over the last week as the THETA price has surged more than 70% during the same time. Interestingly, everyone in the crypto space is quite astonished as to how THETA, which has hardly made any news earlier, made it to the top-ten crypto list.

Chinese journalist, who goes by the name Wu Blockchain, explains the reason behind it. Wu writes that the THETA team has huge monetary control over the cryptocurrency and has been largely sought after by Koreans. He further adds:

“Theta’s core advisor is youtube co-founder Steve Chen, with sufficient funds; Top 10 holds 61% of the currency, which may be easy to manipulate the market; the new version of Theta will be launched in the near future and keep up with the NFT boom”.

The Chinese journalist goes on to add that THETA has been “irrationally” popular in South Korea. Crypto exchange Bithumb from South Korea has huge volume for the THETA/KRW trading pair.

The Unique Thing About THETA

THETA is a blockchain-powered network built for decentralized video streaming. Apart from just decentralizing video streaming, its major business concept also involves data delivery and edge computing.

The THETA network on a native blockchain platform and has two native tokens powering it. One is THETA that is available for trade at the exchanges and the other is THETA fuel that powers the platform’s internal economy.

The three key USPS of THETA’s decentralized are:

content creators improve their earnings
save money on building infrastructure and increase advertising and subscription revenues
viewers get rewarded with better quality streaming service

Since THETA is a Proof-of-Stake (PoS) blockchain, its token holders receive governance powers.

Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.   He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by

Bhushan Akolkar

Published 23 Mar, 2021 | 03:32:38 PM

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.