Crypto-based esports streaming app Theta continues to accumulate ahead of Mainnet 2.0’s launch, growing 150% in the past two weeks.
Overall, the theta token has risen by almost 1,300% since the “Black Thursday” crash in mid-March.
In addition to the upcoming technical improvements, Theta’s rally also appears to have been fueled by a number of partnerships with major media platforms such as Android TV and Samsung.
Theta is a crypto-powered 24/7 streaming service that showcases live esports, World Poker Tour tournaments, as well as major blockchain and cryptocurrency conferences like Consensus and the Crypto Asia Summit.
Users will be rewarded for activities and engagement on the platform in the form of Theta’s proprietary reward token, G Fuel. The theta token, meanwhile, is earned by staking
Theta becomes parabolic
Theta Token hit a new record high of $ 0.185 on May 12 and has gained another 150% since then.
THETA / USDT Binance: TradingView
As measured by BTC, theta token gains aren’t quite as impressive, but it’s still up 360% in six weeks, from less than 1,100 satoshis to test the market’s previous record high of around 5,225 sats.
THETA / BTC Binance: TradingView
Theta’s TFUEL token, the ready-to-use crypto asset used to fund transactions over the Theta network (similar to gas on Ethereum), also dominates the fastest growing crypto asset charts – with a price increase of five times $ 0.0035 to $ 0.0153. Since hitting a record low of $ 0.00078 after the Black Thursday crash, TFUEL had gained 3,000% on May 24th.
TFUEL / USDT Binance: TradingView
The launch of Theta Mainnet 2.0 is imminent
Theta’s Mainnet 2.0 upgrade is scheduled for today, May 27th, and will result in trading in Thetas tokens being temporarily suspended – which may disrupt the momentum that theta markets have recently gained.
Leading up to launch, Theta reported that the number of relay nodes had increased from 1,000 to 1,821 in just six days. The company added that transactions in the chain also doubled over the past week.
On May 22nd, Theta also announced that it has started testing smart contracts on its test network.
Theta is expected to be introduced on 75 million Samsung phones
Last week, Theta announced that Samsung’s flagship Galaxy S20 phones will be shipped pre-installed with Theta’s streaming service to US residents.
Under the deal, Theta will be embedded in the ‘Samsung Daily’ interface, which will be updated to all existing Galaxy S10, S9, Note10 and Note9 devices – across more than 75 million phones.
On May 15, the streaming app revealed a partnership with Gumi Cryptos to enter the Japanese market. On May 8th, Theta launched its Android app for smart TVs.