THETA/USD recently passed over the $7.20 mark, which it had fallen under last Friday. The outlook is positive for the digital asset currently, as its trending upward.
THETA/USD
Theta is doing much better than it was last Thursday, when it hit an all-month low of $5.4, which was its lowest point by far since May 23rd. The question is whether it will continue this upward trend.
Some of the biggest names in cryptocurrency are shooting up this week, including Bitcoin, Ethereum, Bitcoin Cash, and more. It’s good news for the market, but analysts are hesitant to say that the market is actually recovering from the May slump.
Theta is a digital asset that has proved resilient since then, even though it has fallen quite a bit from its all-time high of $14.28 on April 15th of this year. Even though it is ranked 18 overall in the cryptocurrency market, it doesn’t receive the publicity that some of the higher ranking cryptos do.
Theta’s Bright Future?
News of an upcoming protocol upgrade for Theta’s ecosystem is helping to keep the digital asset afloat. Theta is definitely benefiting from news of the Mainnet 3.0 launch that’s coming soon, and historically, digital assets like Theta have managed to rally with new ecosystem developments like this. That makes Theta an interesting crypto to watch, because it could easily skyrocket after Mainnet 3.0 comes out.
Theta’s price is up 4.23% over the last 24 hours, while trading volume is up 2.58%. The crypto has already reached its max circulating supply of coins, so it’s relying on ecosystem updates and improvements in the data protocol to keep it interesting. It’s not been subject to some of the same legislation as Bitcoin has recently, specifically the mining ban China put into place for BTC. However, THETA could be affected by upcoming legislation from several companies, as cryptocurrency is a hot topic among lawmakers at the moment.