Following the delay of Theta’s Mainnet 3.0 launch, the token dipped by 25%, but what drives the lively price action of Theta? There’s no denying the fact that Theta is one of the most discussed cryptocurrency projects on the market in 2021, so much so that the Theta token has already made its way into the top 10 list of cryptocurrencies by overall market capitalization, in what feels like almost no time at all.
Theta’s rise since the start of the year has been nothing short of spectacular, as is best highlighted by the fact that the currency’s value has surged from $1.82 to just over $14 during that timespan. It also bears pointing out that the global video streaming industry is projected to expand at a compound annual growth rate of 20.4% within the next six years.
Kadan Stadelmann, chief technical officer of Komodo — an end-to-end blockchain infrastructure solution — opined that
“The market potential for Theta as well as similar projects is enormous. Today’s most popular video platforms are centralized, and they can arbitrarily decide to take your video down or ban creators from monetizing their content.”