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Is Theta Network a Good Investment?
As of January 2023, THETA is among the top 50 cryptocurrencies by market cap. It is a popular digital asset among crypto traders, enjoying high liquidity and trading volume on leading exchanges.
One key reason that makes THETA stand apart from its competitors is the commercial use case for the underlying Theta Network. The Theta project aims to revolutionize online content streaming using blockchain technology and is one of the most promising applications for the technology in the market.
This makes its native token THETA a valuable asset to trade or hold. The THETA price enjoys an uptrend amid the rising adoption of the Theta Network by developers, dApps, and end users, driving higher on-chain activity.
In addition, the THETA price statistics also receive support from an uptick in Web3 adoption. As a PoS, EVM-compatible network that runs smart contracts, the Theta Network is an attractive platform for developers to design dApps. The higher the innovation and number of dApps on its network, the more valuable the THETA token becomes.
Finally, positive market sentiment towards cryptocurrencies, in general, could also power bullish moves in the Theta Token price. When the price of top cryptos like Bitcoin and Ethereum trades higher, more investors feel confident in buying digital assets across the crypto market, which could drive up the THETA price.
History of Theta Network and THETA Token
The Theta Network was co-founded by Mitch Liu, a computer scientist from MIT who did his MBA at Stanford, and Jieyi Long, an engineer from Peking University with a Ph.D. from Northwestern. They set up Theta Labs as the company that went on to develop both the Theta token and the blockchain.
The initiative was first announced in November 2017 via Medium. A THETA token sale followed this during its initial coin offering (ICO) in January 2018, when the token was initially designed as an ERC-20 token on Ethereum.
The Theta Network mainnet 1.0 launch happened in March 2019, followed by the mainnet 2.0 launch in May 2020. The second mainnet launch brought the concept of community-run Guardian nodes to validate transactions.
The Theta mainnet 3.0 launched in July 2021, bringing smart contract capabilities to its blockchain infrastructure. In 2022, Theta Labs announced the Theta Metachain concept with more scalability, throughput, and security.
What Are the Key Competitors of Theta Network?
As a platform for decentralized video content streaming and sharing, the Theta Network does not have too many direct competitors. However, its disruptive technology does pit the project directly against established giants in the video streaming industry, including YouTube and Netflix.
It offers an innovative, decentralized infrastructure that is easier to operate, provides a cheaper infrastructure to content creators for hosting and streaming, and provides incentives to its community. The innovation sets Theta Network apart from centralized players in this space and distinguishes it from other blockchain networks in the industry to date.
However, with its upcoming Theta Metachain launch and its interest in the Web3 space, we could see Theta Network compete with other leading Web 3.0 blockchain networks. Some of the competitors in the Web3 blockchain space include Ethereum, Polkadot, Cosmos, Filecoin, Audius, and more.
How to Stake THETA Token
Staking Theta Token is a lucrative way to put your crypto to work and generate revenue on your investment. Here’s how to stake THETA token to be eligible for validating transactions and earning TFUEL tokens as rewards:
1. Set up a Theta Wallet, the official wallet developed by Theta Labs.
2. Ensure that your wallet is funded by buying Theta Token on KuCoin or any other supported platform. Withdraw the purchased THETA from your exchange to your Theta Wallet address.
3. Head to the Stakes tab on your Theta Wallet interface by clicking on it.
4. Click on the Deposit Stake button on the top right side of your screen.
5. Please note that you need to stake a minimum of 1,000 THETA tokens to become a Guardian node and function as a validator on the blockchain.
6. If you choose this option, copy the text string from your Guardian Node app to stake THETA to this and function as a network node.
7. You can also choose the Delegated Guardian Node to delegate your staked THETA crypto to existing validator nodes on the decentralized network. This is a convenient option if you wish to stake fewer than 1,000 THETA tokens.
8. Sit back and watch your rewards accumulate in the Theta Wallet in TFUEL crypto.
THETA (THETA) Price Analysis
Live PriceThe live price of THETA is 0.6015 USD, representing an increase of 1.81% in the past 7 days and -1.98% decrease in the past 24 hours.
Historical TrendsThe all-time high of THETA was -- USD on Invalid date, from which the coin is now down .
The all-time low of THETA was -- USD, from which the coin is now up .