Theta [THETA/USD] is selling at $9.73 today, up 8.52% as of this writing. While other cryptocurrencies have dropped drastically over the last month from their previous standing, Theta has managed to perform evenly for months and is currently experiencing an upward trend. This may indicate an opportunity for bullish buying over the short term.
What Is Theta?
Coming in at #17 in overall rank for the cryptocurrency market, Theta goes under most investors’ radar, which has likely contributed to its fairly even performance recently. This also means that it hasn’t seen the huge price spike from the beginning of the year that some of the higher ranked cryptocurrencies have, but the relative stability of this crypto is what has made it appealing to investors who are digging below the surface of the crypto market.
The Theta crypto operates on a decentralized infrastructure and is tied into a video streaming network. This network doesn’t compete directly with YouTube and other video hosting sites but instead offers a way to speed up video streaming and keep streaming costs low. The real-world utility behind Theta makes it a crypto to watch for the future.
Theta Up Against Other Cryptos
If Theta did does get more mainstream attention on it, potential investors should expect it to become more volatile. Currently, major cryptocurrencies like Bitcoin, Dogecoin, and Ripple are all considered quite volatile. They have all experienced a drastic price drop in the last few weeks, from which they are still recovering. Plummeting prices 30% and 40% have caused the cryptocurrency market to experience a massive selloff, though the market as a whole could be poised for a turnaround.
Many of the major crypto’s are not considered safe investments right now, though, since they could be headed for a further drop. Experienced industry analysts are divided as to whether cryptos are going to fall further or start making a recovery soon.
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