Theta Continues Steady Climb with 5.52% Increase Today
After a rough period where Theta (THETA) dipped below the $1.00 level, this cryptocurrency token is back up again and climbing slowly but surely. Today, Theta has achieved a rate of $1.08 (THETA/USD) and does not seem to be stopping.
How Is Theta Faring Now?
That is exciting news for investors who were worried about the coin’s recent performance and its historic fall under $1.
Today, the coin is enjoying a trade volume of $56.9 million, which is a massive increase from yesterday. The trade volume has soared by 149% over the last 24 hours, so investors are hopeful that this bull trend will continue.
Theta is currently ranked #50 overall, and consumer interest in the coin has picked up since it started to get back above $1.
The rate surge for this coin is likely due to the announcement of the Theta Metachain. Theta is involved in NFT marketplace as well as video streaming optimization. The Metachain project is helping move the coin into the metaverse as well, tapping into that popular component of the crypto industry that seems to be everywhere.
Where Can Theta Go from Here?
Initial excitement levels for the Metachain appear to be high, as the rate increase and trade volume gains indicate. The question is whether that level of excitement can be maintained at all. Theta has had a difficult time retaining investors over the course of 2022, and it has fallen overall with a bear trend that does not seem to let up for any substantial length of time. We will have to wait and see if the Metachain launch will provide it with a sustained price boost or if this excitement is just a short-term boon that will fade away quickly.
The Metachain will fully launch in December, and its announcement has helped propel various Theta currencies for the moment. This is part of a push toward a Web 3.0 experience that could be the future for the internet.
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