Theta is an open-source blockchain network that incentivizes users to use their computers to stream high-quality video around the globe. The Theta cryptocurrency (THETA) is the governance token for the Theta blockchain. It is distinct from the TFUEL cryptocurrency, which is used to pay for transactions on the Theta blockchain.
The Theta price chart below shows the most recent THETA crypto price today.[crypto_chart id=812]
Theta Price History
The Theta blockchain was founded in 2017 by Mitch Liu and Jieyi Long. To get the project off the ground, the Theta team held a private sale of 300 million Theta tokens at a price of $0.66 each, raising a total of $20 million.
Theta began trading on crypto exchanges in 2018, although the coin was worth less than during the private sale. The Theta tokens crypto price was initially around $0.20 per tpken, but fell to as low as $0.04 by the end of the year. The coin spent most of 2019 at or below $0.10 before starting to gain value in 2020. The coin regained its original sale price of $0.66 in September 2020.
In December 2020, the Theta crypto price began to skyrocket. The coin jumped to $2.10 by the start of 2021, then shot up to an all-time high of $14.28 on April 15, 2021. This was in response to several catalysts, including major companies like Google and Sony joining Theta’s network validation program. Around the same time, Theta Labs, the company behind the Theta network, received a patent on its blockchain-based video delivery system.
The coin has fallen steadily in value since hitting its high in April 2021. By the end of the year, it had dropped to $4.70 per token. As of today, the Theta coin price is valued at $1.25 and the price shows few signs of having hit a bottom.
Theta has a market cap of $1.25 billion and is the 46th largest cryptocurrency by market cap. The coin has a fixed supply of 1 billion coins, of which all are currently available for trading on major crypto exchanges.
Theta Coin Price Prediction
If you’re thinking about buying Theta while it’s down, it’s important to know where this cryptocurrency might go next. Right now, Theta’s decline does not appear to be finished. The coin has not established a lasting support level since its rise at the end of 2020. The next support below the current price is around $0.60.
At the same time, some crypto analysts conudcting Theta price predictions believe Theta’s price could fall further. WalletInvestor predicts that the coin could drop to $0.15, for example. Other analysts point to the potential success of Theta’s video updated network as cause for celebration, and believe the coin could rebound to $2.50 to $12 by the end of the year.
The broader decline in the cryptocurrency market creates headwinds for Theta. It may be several years before the cryptocurrency is able to reclaim its April 2021 price level.