Theta Network price hit a high of $3.412, the highest level since April 10. It is up more than 23% from its April 18 low. Its market cap jumped to over $3.4 billion. Likewise, the price of Theta fuel has increased by more than 3% in the last 24 hours.
New Validator Node
Theta is a leading blockchain project that aims to become a top player in the video infrastructure and non-fungible token (NFT) industries. The network helps decentralize the industry by allowing people to share their free bandwidth with the network. As a result, videos hosted on the network are noticeably faster.
Theta Network price increases after BridgeTower Capital announced that it will become the next enterprise validator for the network. The company has developed a sophisticated platform to uniquely bring products to its authorized markets. It has over 5,000 of its own staking nodes and its own servers. In a statement, the company’s founder mentioned:
“We have long supported the work Theta has pioneered using blockchain infrastructure to provide decentralized video streaming in ways that offer both technical and economic benefits.”
Theta’s Validator Node has grown rapidly over the past few years. Some of the major companies that provide these solutions are Samsung, Sony, and Google. The developers expect the list of validating nodes to continue growing as they have reduced the required amount to 200,000 THETA.
Theta network price also reacts to the performance of its TDROP NFT market. The 20th season of American Idol is set to launch its new NFTs on its platform on Friday. Since its launch, the network has become an important player in the NFT industry.
Theta Network Price Prediction
The four-hour chart shows that Theta price has rallied dramatically over the past few weeks. It managed to break above the 25 and 50 day moving averages and the 50% Fibonacci retracement level.
Moreover, the coin paused and retested as it moved back to $3.2, which was the all-time high on April 14. Therefore, more upside will be confirmed if the price breaks above the important resistance level at $3.54. If that happens, the next key level to watch will be at $4.
Where to Buy Theta Network
As a top cryptocurrency, Theta Network is offered by many brokers and exchanges.
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