With a 30% Increase, THETA Is the Top Gainer for the Week

THETA regains momentum during the past week and creates quite a buzz. Specifically, according to CoinMarketCap, the crypto saw a 30% increase, to be exact. This makes Theta Token the top gainer of the week.

Running on its mainnet since March 2019, Theta Token has come a long way. Initially, the token was an ERC-20 token. After $20 million funded from private token sales in 2017, the crypto began its journey.

In particular, this sudden surge in THETA’s price could possibly be due to the expected Theta protocol release. This latest version will be out on July 25, 2021. It will mark a significant milestone for the usability improvement on the Theta blockchain. 

Other reasons behind this sudden surge in THETA’s price could be due to other improvements and achievements within the Theta blockchain. For instance, just four days ago, ThetaDrop — the Non-Fungible Token marketplace on the Theta Network, made an announcement.

In detail, the NFT marketplace is working on making new adjustments for the platform. These will include the Know-Your-Customer (KYC) feature. It will also be accompanied by withdrawals to the ThetaDrop platform. This could definitely have sparked further interest in THETA.

Moreover, on July 21, 2021, THETA recorded an all-time high (ATH) with its staking. In fact, THETA staking hit an ATH of 64% of its total supply. The network is still encouraging its hodlers to begin staking their Theta Tokens. Those who do not wish to do so have the option of delegating to a community node.

Furthermore, THETA gained traction for its Theta Guardian Node v3.0.2 release about a month ago. This release bought new and interesting features on the Theta 3.0 mainnet. In fact, this mainnet launch, in particular, was highly anticipated as the launch was postponed.