Theta [THETA]: Brace Up for the Next Price Parabolic Wave in 2021

By Sunil Sharma
Published June 5, 2021 Updated June 5, 2021
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Theta [THETA]: Brace Up for the Next Price Parabolic Wave in 2021

By Sunil Sharma
Published June 5, 2021 Updated June 5, 2021

What is Theta (THETA) Uniqueness? Major advantages/features (use cases and what’s the problem they are solving)

THETA is a blockchain-based video streaming service, a decentralized Content Delivery Network – CDN developed by Theta Labs that aims to complement and address significant drawbacks of traditional streaming services like YouTube and Twitch.

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Theta’s technology combines few technologies like a Multi-level Byzantine Fault Tolerance (BFT), aggregated signature gossip scheme, and a micropayment pool that’s resource-oriented.

At 1000 transactions per second, Theta’s innovation brings its network ahead of Bitcoin (7 TPS) and Ethereum (50 TPS).

Users on the Theta protocol can earn from advertisers, broadcast/relay video streams to other users via a network of local nodes that cache video data, and reward their favorite influencers or content creators with gifts.

Future of Theta (THETA) Token

Significant partnerships/collaborations, progress made so far. 

  • Theta enabled website integration with streams from Theta.tv, making it possible for streamers, viewers, and websites to earn rewards in Tfuel tokens.
  • Theta’s partnership with the world poker tour adds a 24/7 Livestream of Poker to Theta.tv.
  • Theta also streamed one of the most significant events by Coindesk.
  • Smart TVs can now run the Theta.tv app and start streaming video.
  • Google partners with Theta while also being a validator node on the Theta network.
  • Theta release their 2.0 mainnet, embedding Theta.tv into SamsungLive running on over 75 million Samsung mobile phones.
  • Theta’s partnership with MGM allows for the streaming of Hollywood classics.
  • There is news regarding Coinbase listing Theta on the popular US-based crypto exchange.
  • Recent Theta and Chainlink partnership aims at combating video scams and low-quality streams.
  • Theta launched EdgeCast, setting the pace for a decentralized video streaming platform.
  • Theta officially launched its Smart contracts after series of tests and iterations for months. 

The Theta community and Theta Labs are currently building decentralized exchanges, Decentralized Applications – dApps, and staking pools to go live soon.

Theta now allows for New NFT collectible creations and assets using Theta’s very own fungible and non-fungible token standards.

– With the new web browser wallet plugin similar to Metamask, users can now mint new tokens and interact with decentralized applications – dApps.

2021 Road map Update

Q1 ’21

  • Theta Network Token – TNT-20, a minter that’s expanded for Non-Fungible Tokens NFTs.
  • Staking and testing of TFUEL – Pre Elite Edge Node.
  • One-click delegated staking within Theta wallet
  • DEX – Decentralized exchange on the Theta blockchain.
  • NFTmarket place launched on the Theta blockchain

Q2 ’21

  • 3.0 Mainnet Launch: Elite Edge Nodes, TFUEL staking, and burning
  • The official Theta app to be released and launched for Trezor and Ledger hardware wallets.
  • Theta integrates with LINE dApp.
  • Expanded video transcoding/encoding with v2 Edge.

Q3 ’21

  • New use cases for Edge Caching, such as game patches, software updates, and much more.
  • New use cases for Edge Compute, such as machine learning, AI, other computer heavy tasks.
  • A completely decentralized streaming dApp for v2 Edgecast.

Q4 ’21

  • Beta version of Edge storage and IPFS integration
  • Theta’s advanced Smart contract developer platform V2.

Competition analysis with similar projects highlights the most valued competitor and the probability of surpassing it.

The only major competitor for Theta is Livepeer LPT, a quite similar decentralized video transcoding network built on the Etherum blockchain.

However, Theta Labs has patents on their methods and more features, as highlighted above, making it surpass LivePeer going forward.

Theta’s patent should grant them a 20years head start and monopoly, putting them farther ahead of any competition, not forgetting the extensive partnerships with Google, Samsung, and so on.

THETA Token 2021 Price Levels and Projections

  • THETA/USDT Weekly Chart Analysis
ThetaUSD
Chart by TradingView

The current upward trend of the THETAUSDT  took off from a weekly chart overview on April 20, ’20, after the crypto pair entered the RSI overbought area and has not breached the RSI level-30 since then.

Selling pressures from the bears gave way to increasing demand on November 30, ’20, following a hidden bullish divergence, launching the THETAUSDT higher by roughly 2000% to its current all-time high.

Let’s not forget the most recent hidden bullish divergence on March 01, ’21 that also reinforced confidence in a price hike.

  • Bullish Scenario for THETAUSDT:

OK, THETAUSDT is already in a bullish trend. However, recent slowing in the upward momentum indicates a possible correction of earlier gains.

On the other hand, a third hidden bullish divergence may be in the pipelines if the RSI sets a lower low, while the THETA price forms a higher trough above the MA-10.

  • Bearish Scenario for THETAUSDT:

Although the THETAUSDT is currently in an uptrend, there appears to be a slowing of the bullish impulse wave.

If the current week closes as a bearish Inside-bar candlestick formation, we may see a correction to the $7 & $5 marks.

  • THETA/BTC Weekly chart
Thetausd
Chart by Tradingview

The THETABTC broke out of price consolidation after the RSI closed above a bearish divergence trend line (Weekly Close Price -> 0.00008507) on March 01, ’21, and soared by 226%.

A bearish closing week is anticipated, signaling a bearish closing Inside-bar candlestick pattern, leading to a possible price decline into the 0.00014298 and 0.00011979 support zones.

  • A Bullish Case for THETABTC: 

If the RSI drops below the overbought area and lower than the last trough, we can expect a bottoming of the correction phase and a price hike to 0.00045.

Conversely, an increase in buy pressure could sideline further price decline and a sudden price hike in the early parts of Q2 ’21.

  • Yearly price predictions

Following our bullish and bearish scenario overhead, we conclude that the THETAUSDT holds a more bullish narrative from Q2 ’21 into Q4 ’21.

If the exchange rate flows as anticipated, we project a 645% increase in the THETAUSDT exchange rate where the THETA price should trade at $50 after a slight correction to around the $8 and$7 support area.

Is THETA token a Good Investment for the future?

The THETA project and tokenomics is a total game-changer for the video streaming industry. The partnerships and analysis of the exchange rates reveal that the project should be among your top five crypto project picks into the future.

  • Market Cap projections and demand/supply scenario

At a fixed supply of 1 billion Theta tokens, Theta’s demand continues to surge, as revealed on the analyzed price charts.

If the price dynamics play out as analyzed, with first a price correction, expect a 10X surge in THETA’s market cap on or before Q4 ’21.

The Theta token can find its way to the top five cryptocurrencies by market cap with an increase in adoption rate, completion of significant milestones, and token burning mechanism.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sunil Sharma
203 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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