Theta token price sinks 25% overnight after mainnet delay

Theta lost a quarter of its value in a flash dip following the delay of its mainnet launch.

After recording new all-time highs all throughout 2021, the value of Theta (THETA) dropped 25% in less than 24 hours leading into March 25, following news that the project’s mainnet launch had been pushed back two months.

Theta is a blockchain-based video streaming platform that was gearing up for its official Mainnet 3.0 launch next month. On March 24, the Theta team announced that it was delaying the mainnet launch until the end of June.

By early Thursday morning, Theta had lost a quarter of its value — falling from a token price of $14.43 down to $10.73.

 The TFUEL price surged 1,921% since Jan. 1, but by Thursday morning it too had lost a quarter of its value, dropping 25.6% overnight.

Notably, four hours after Theta and Theta Fuel had each lost 25% of their values, both were subject to a sizable bounce, regaining 17% and 20% respectively.

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Author: Priyanka

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