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NewsBTC 2022-11-01 18:49:08

Theta Network Seems To Be Struggling, Will THETA Rebound?

The Theta coin price saw a spectacular rise in the midst of the crypto market rebound. It broke above the $1.1 resistance level, giving the bulls a springboard to extend their bull run. Still, buyers who have been waiting may get another chance to buy as the altcoin gets closer to the $1.2 resistance. However, it appears that THETA has increased too rapidly within a short time. With a 1.60% increase on the day and a seven-day chart representing a downhill trend in previous days, can we see Theta rebound to its previous highs this new month? Related Reading: Shiba Inu (SHIB) Plays Catchup With DOGE; Will Bulls Push For $0.00002? What To Know About Theta? Theta Network is a blockchain-based, smart-contract-powered decentralized content distribution network with a high throughput capacity. The founders of Theta Network, Theta Lab, created it as a decentralized alternative to traditional video streaming services. These days, the industry is dominated by centralized streaming services like YouTube and Netflix. Theta Lab’s goal is to compete with these established services by providing a decentralized environment with superior video quality and quicker connectivity. Additionally, they are concentrating on cryptocurrency-based gaming solutions. This requires sponsors, developers, users, marketers on the network, and content producers and consumers. It originally debuted as an ERC-20 token. However, it launched its main net in 2...

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