In this article, we will analyze the THETA coin, which is in fifty-first place behind Bitcoin, according to www.coinmarketcap.com data. First, we will discuss the THETA coin and its projects and make a technical and graphic analysis. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is THETA Coin?
Theta Token (THETA): Theta Token is the original cryptocurrency of Theta Labs, the company behind the Theta Network. It was created in 2018 and is used to reward users for sharing video content and engaging with the Theta Network.
Theta Network (THETA): Theta Network is a blockchain-based video streaming platform that allows users to share bandwidth and computing resources to improve the quality of video streaming. THETA is the native cryptocurrency of the Theta Network.
What are the projects of THETA?
THETA is the native cryptocurrency of the Theta Network, which is a decentralized video streaming platform that aims to improve the quality of online video content by leveraging blockchain technology. Here are some of the key projects and initiatives that THETA is involved with:
Decentralized video streaming: The Theta Network is designed to enable decentralized video streaming, which allows users to share their bandwidth and computing resources to improve the quality of video streaming. THETA is used as a reward for users who share their resources, and as a payment method for content delivery.
Edge network: Theta is also building an edge network infrastructure that leverages the idle computing and storage resources of individual users to create a decentralized network of nodes that can deliver high-quality video content.
Theta Drop: Theta Drop is a marketplace for non-fungible tokens (NFTs) that is built on the Theta Network. THETA is used as the primary currency for buying and selling NFTs on Theta Drop.
ThetaSwap: ThetaSwap is a decentralized exchange (DEX) that allows users to trade THETA and other tokens on the Theta Network. ThetaSwap uses automated market making (AMM) algorithms to provide liquidity to users.
Theta.tv: Theta.tv is a streaming platform that is powered by the Theta Network. Users can watch and stream live video content, and earn THETA rewards for their participation.
Overall, the THETA cryptocurrency is closely tied to the development and growth of the Theta Network, which is focused on improving the quality and accessibility of online video content through decentralized technology.
THETA COIN TECHNICAL ANALYSIS
THETA, which reached its highest value of $ 15.88 in April 2021, has decreased by 94% since that date and is traded at $ 0.987 at the time of writing. According to www.coinmarketcap.com data, THETA, which has a size of $ 988,434,662, has had a volume of $ 9,953.00 in the last twenty-four hours.
THETA Chart Analysis
THETA, which fell 94% after seeing the highest value of $ 15.88 in April 2021, seems stuck between $ 1.662-$ 0.799 since May 2021. I think that THETA, which continues the downward trend, must break the downward movement if it is to rise. While we have resistance at $ 1,350 weekly, we need to work with the $ 0.799 support on possible pullbacks.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.