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3 reasons why Theta price hit a new all-time high at $3.49

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The sustained bullish performance from Bitcoin (BTC) and Ether (ETH) has increased the confidence of crypto investors and many are now looking deeper into projects that have strong fundamentals and offer real-world use cases. 

This week investors turned their attention to Theta (THETA), a decentralized network that allows users to share bandwidth and computing resources in order to stream video. In the last two months THETA price has increased by more than 350%, rallying from $0.66 on Dec.10 to a new all-time high of $3.44 on Feb.13.

THETA/USDT 4-hour chart. Source: TradingView

Three reasons for Theta’s recent price growth include the project’s plan to engage with DeFi through its Theta DEX, the addition of smart contract capabilities and NFTs to its blockchain and a growing list of high-level partnerships that will help bring quality content to its video streaming network.

Community engagement via non-fungible tokens

Following the success of CryptoKitties during the 2017-2018 bull market, non-fungible tokens (NFT) have become a recurring hot topic in the cryptocurrency sector. Theta’s addition of smart contract functionality is an attempt to capitalize on this trend.

The Theta Token Minter allows users to create new TNT-20 tokens without needing any smart contract experience. This simplifies the process of minting new assets on Theta blockchain, including custom streamer assets and new DApps with their own tokens.

The token minter platform also makes it easy for users to trade and transact in their newly minted tokens.

ThetaSwap DEX bring DeFi-sized yields

Decentralized finance has rapidly become a cornerstone of the cryptocurrency ecosystem prompting projects that are serious about their long-term viability to create their own DeFi applications.

Theta joined the party by launching it’s ThetaSwap v1 decentralized exchange onFeb.4. ThetaSwap allows users to swap Theta-based TNT-20 tokens and Theta Fuel (TFUEL) in a manner similar to the user experience on Uniswap and SushiSwap.

The DEX allows NFT holders the opportunity to trade their collectibles in a simple and secure manner through the integration of the Theta Chrome wallet extension available on both the Chrome and Brave browsers.

Future upgrades to ThetaSwap will add support for wrapped tokens, including a wrapped form of Theta similar to wETH or wBTC, along with the possible addition of several stablecoins whose issuers have already expressed interest in minting TNT20 forms of their assets.

Big-name partnerships push THETA price higher

The third reason for THETA’s improving fundamentals comes from the increase in big-name partnerships.

On Feb.9 the team announced that entertainment powerhouse Lionsgate, home to popular movie titles like John Wick and The Hunger Games, would be joining the Theta ecosystem. The partnership will kick off with movie night screenings beginning in March.

Cointelegraph Markets Pro – VORTECS™ Score (green) vs. THETA price

Data from Cointelegraph Markets Pro shows that Theta’s price was decreasing on Feb.6 following a bullish breakout which appears to be the result of ThetaSwap’s release on Feb.5.

The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

On Feb.9 news of the Lionsgate partnership broke and by Feb.10 the VORTECS ™ score increased to 80, a move which was followed by THETA’s current rally to its all-time high at $3.49.

Other noteworthy Theta partners include NASA, which hosts a channel that live streams rocket launches and most recently a live feed from a Mars rover. World Series of Poker has also joined with Theta and its channel offers non-stop coverage of the world poker tour.

A rising tide lifts all boats

Theta’s entrance into DeFi, the steady addition of big-name streaming partners and the strength of the current crypto bull market all point to a growing ecosystem that is only beginning to display its true potential.

With Delaware’s Department of State showing a recent filing for a Grayscale Theta Trust LLC, the altcoins price appreciation may just be getting started as Bitcoin and altcoins are increasingly catching the eye of the mainstream investor.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Source: https://cointelegraph.com/news/3-reasons-why-theta-price-hit-a-new-all-time-high-at-3-49

Blockchain

Bitcoin price is going to ‘infinity’ — Kraken CEO

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Bitcoin (BTC) will be worth “infinity” and humanity will soon give up pricing it in U.S. dollars, says the CEO of cryptocurrency exchange Kraken.

Speaking to Bloomberg on March 4, Jesse Powell was characteristically bullish on Bitcoin as BTC/USD broke above $50,000.

Powell: $1 million Bitcoin in ten years “reasonable”

“Of course, you know, we can only speculate, but when we measure it in terms of dollars, you have to think it’s going to infinity,” he told Bloomberg TV about future price trajectory.

“This national currency’s only fifty years old, it’s already showing extreme signs of weakness, and pretty soon I think people are going to start measuring the price of things in Bitcoin.”

Powell was commenting as the USD weakened alongside a macro market sell-off on Wednesday, an event which had next to no impact on Bitcoin. At the same time, the U.S. national debt quietly passed $28 trillion for the first time in history.

Despite a rejection of $50,000 support, Bitcoin bulls thus remained more than optimistic.

“The people that are believers in Bitcoin see… it’s going to replace all of the world’s currency, so that basically means whatever the market cap of the dollar is, the euro — all of that combined is what Bitcoin could be worth,” Powell continued.

“I think in the near term, people see it surpassing gold as a store of value, so I think $1 million as a price target within the next ten years is pretty reasonable.”

As Cointelegraph noted, Bitcoin closed February 26% above its target dictated by the stock-to-flow-based price models, with creator PlanB still confident that $100,000 will hit at some time this year.

Bitcoin stock-to-flow chart as of Mar. 3, 2021. Source: Digitalik

No time for gold

Meanwhile, the gold ecplise argument has been steadily gaining support on social media in particular, often at the expense of gold bugs, who are left with increasingly little ammunition to defend their anti-Bitcoin stance.

As Cointelegraph reported, it was billionaire and former Bitcoin skeptic Mark Cuban who this week took SchiffGold.com CEO Peter Schiff to task over his love of the precious metal. Gold, he told Schiff, “is dead.”

“Bitcoin has been crushing gold since inception,” Kraken growth lead Dan Held added in response to claims by Schiff that a bet against gold was a losing one.

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Source: https://cointelegraph.com/news/bitcoin-price-is-going-to-infinity-kraken-ceo

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Giottus technologies offers access to Bitfinex liquidity

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Giottus Technologies (Giottus), a cryptocurrency exchange, today announced that it will provide access to liquidity on Bitfinex, providing its customers with some of the deepest crypto-to-crypto liquidity in the industry.

Giottus is also introducing the most competitive fee structure in India for its customers.

“Giottus customers can now enjoy high liquidity across BTC/USDT, ETH/USDT, XRP/USDT, TRX/USDT, ETH/BTC, and many more. Through the strategic agreement with Bitfinex, we have further strengthened our compliance policies and procedures, both on and off-chain,” said Vikram Subburaj, Co-Founder & CEO at Giottus.

The commitment to our customers comes first, which is why we have introduced the most competitive fees in India, 0% Maker & 0.075% Taker. Traditionally, the largest global exchanges charge these low fees only to customers trading USD 3Bn+ monthly. Giottus customers can enjoy these fee levels irrespective of their monthly trade volumes,” added Arjun Vijay, Co-Founder & COO at Giottus.

Benefits of this new strategic agreement include,

  • Some of the deepest crypto to crypto liquidity in the industry
  • The most competitive fees in India – 0% (Maker) & 0.075% (Taker)
  • Enhanced on & off-chain compliance and controls

About Giottus 

Giottus is changing the way Indian users trade their digital assets by building a platform that is customer-centric along with top-tier customer support on par with the world’s best international exchanges. Preferred by beginners and veterans alike, Giottus offers products and solutions that cater to users of all segments.

Key product features include,

  1.  Trading in 100+ crypto pairs
  2.  One-Click INR Deposit and Buy
  3.  24×7 Banking Support
  4.  Multilingual Customer Support (English, Hindi, Tamil & Telugu)
  5.  Superfast KYC processing

In the past month, Giottus has launched the trade of 30+ new INR-crypto pairs along with an improved compliance mechanism and upgraded tech-stack to support its growing Indian consumer base.

Giottus is highly rated and loved in India with a greater than 4.8 on 5 average ratings among reviews on Google, Facebook, and Trustscore.

Contact

Srivathsan A R, Chief Marketing Officer, Giottus @ [email protected]

For more details, visit their website or contact them on Telegram

Disclaimer: This is a paid post and should not be taken as news/advice

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Source: https://ambcrypto.com/giottus-technologies-offers-access-to-bitfinex-liquidity

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Coinbase CEO tops China’s Hurun list of blockchain billionaires

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The CEO of the United States’ largest cryptocurrency exchange, Coinbase, has topped the list of global industry billionaires by China’s Hurun Research Institute.

Issued on March 2, the latest Hurun report provides a brief overview of the world’s richest, stating that the number of global billionaires has surged nearly 50% to hit over 3,000 people over the past five years. The report includes 17 “blockchain billionaires,” or industry entrepreneurs who made their fortune “mainly from cryptocurrency” as of January 2021.

According to the report, Coinbase CEO Brian Armstrong is the world’s biggest crypto billionaire, with his net worth surging ten-fold from $1 billion last year.

According to Hurun’s data, Armstrong now has an estimated wealth of $11.5 billion ahead of Coinbase’s imminent initial public offering. The company officially announced its IPO plans in December 2020 in a draft filing with the United States Securities and Exchange Commission.

Sam Bankman-Fried, founder and CEO of Alameda Research and FTX exchange, is ranked the second-richest blockchain billionaire, with a net worth evaluated at $10 billion. The executive is a new entrant in the Hurun list, following the massive growth of FTX in 2020.

Changpeng Zhao, CEO of the world’s largest crypto exchange Binance, is ranked the third, with total wealth estimated at $8 billion, up more than 200% from last year. In 2020, Zhao was featured as the richest crypto billionaire in the Hurun list, overtaking Bitmain’s co-founder Micree Zhan Ketuan.

The Hurun’s new blockchain billionaires list includes a number of major industry players like Ripple co-founders Chris Larsen, Stellar co-founder Jed McCaleb, Digital Currency Group CEO Barry Silbert, the Winklevoss brothers, MicroStrategy CEO Michael Saylor, and others. The list features a total of 11 new entrants in the list including major industry investor Tim Draper and Galaxy Digital founder and CEO Michael Novogratz.

Source: Hurun

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Source: https://cointelegraph.com/news/coinbase-ceo-tops-china-s-hurun-list-of-blockchain-billionaires

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