THETA (THETA): Price Update and Platform Developments

Briefly

  • One Championship (ONE) declared that Theta Network would help launch their NFT market.
  • Theta Labs announced its plans to unstake 15 million Theta cryptos from validators to finance future projects.
  • Theta Network declares $1 million as the prize for the blockchain hackathon.
  • Currently, THETA trades at $6.5895, up by 10% on a month.

Theta gained traction with its purpose-built and incentivized video delivery platform. The network’s recent updates ensured Ethereum compatibility. That allowed ETH and Ethereum-compatible apps to perform without hurdles on the Theta ecosystem.

Theta created an expansive network that includes ONE Championship, Binance, Chainlink, Institutional Investment Group, Samsung, Sony, Google, and others. What about Theta’s recent moves?

Recent Developments

NFTs have dominated the cryptocurrency space in recent times, and Theta Network joined the craze. A Singapore-based Muay Thai martial arts and kickboxing promotion, ONE Championship declared its partnership with THETA.

ONE will have its first-ever NFT marketplace via the Theta Network. The market will include NFTs for ONE’s memorable events and non-fungibles that celebrate ONE Championship superstar athletes. Though they have not announced the date, Theta Network will play a role in the development.

Also, Thera has declared unstaking 15 million Theta tokens to accelerate the network’s growth. The statement shows that Theta Labs will unstake the tokens from validators to finance the platform’s future events.

Future Events

Besides Theta contributing to the upcoming NFT marketplace by ONE Championship, the network has more upcoming events. For example, the project declared its hackathon 2021 as it aims to dominate the decentralized video protocol.

The 2021 Q1 hackathon introduces the highest prizes ever in the blockchain space at $1 million. Theta plans to take advantage of the event to maximize the community’s growth and development in its ecosystem.

THETA Price Update

With the multiple developments and news surrounding the Theta Network, THETA, the ecosystem’s native token, has seen its price rising. However, the asset lost most of its gains during the market sell-off in August.

While writing this, THETA trades at $6.5895, gaining more than 10% on month-date. However, the token had performed best on 16 August at $8.3 and on 24 August at $8.07. With its current value, Theta’s market capitalization stands at $6.804 billion as it ranks 25th.

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