Key Takeaways

• The Theta Network’s THETA coin has been on something of an upturn over recent weeks.
• The news that the blockchain would support an NFT version of 90s game Pogs generated interest in the crypto.
• Can THETA maintain upward momentum?

The Theta Network aims to put video streaming on the blockchain. The system’s THETA coin has performed relatively well after struggling in early June’s bear market. A series of upgrades, both installed and upcoming, has seen the blockchain stay in the sights of crypto investors.

Not only that, but the announcement that Theta Network would support a non-fungible token (NFT) version of 90s game Pogs  saw interest in the platform rise.

But what is Theta Network (THETA)? How does the Theta Network work? Let’s see what we can find out, and also take a look at some of the Theta Network price predictions that were being made as of 27 July 2023.

Theta Network (THETA) Explained

Online media streaming is one of the biggest tech growth stories of the last 15 years. Video streaming has exploded at pretty much the same time that blockchain technology and cryptocurrency have come online.

It makes sense that something would try to link the two. The Theta Network  aims to do just that. 

Crypto entrepreneurs Jieyi Long and Mitch Liu founded Theta in 2017. The blockchain allows content makers to make money for creating high-quality videos. It also lets content viewers cash in by supplying bandwidth.

The THETA crypto coin supports the Theta Network.

How Theta Works

In normal streaming networks, geographically-linked groups of operators, called content delivery networks (CDNs) deliver video streaming content. The Theta Network has a worldwide group of people who offer up their bandwidth which means that, unlike traditional CDNs, there should be fewer quality issues.

The platform relies on three groups of users, or nodes. Enterprise Validator Nodes stake THETA in order to validate transactions and add blocks to the blockchain, while Guardian Nodes make sure the Enterprise Validators have done their job accurately. Edge Nodes share bandwidth or stream videos in return for rewards.

As you might have already worked out, the Theta Network is a Proof-of-Stake (PoS) blockchain. This means that blocks are added based on how much THETA someone holds or stakes. 

People who hold THETA can vote on changes to the network. The coin can also be bought, sold, and traded on exchanges.    

THETA Price History

Let’s now take a look at some of the highlights and lowlights of the Theta Network price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Theta Network price prediction. 

THETA came onto the open market in early 2018. It spent much of the first three years of its existence hovering somewhere around $0.10, but it started to climb in the middle of 2020.

The start of 2021 saw a crypto bull run, and THETA joined in the fun, reaching an all-time high of  $15.90 on 16 April. After that, it fell down and it closed the year at $4.58.

2022 was neither a good year for crypto in general nor THETA in particular. The coin dropped as a series of market crashes hit it hard and it closed the year at $0.7218, an annual loss of nearly 85%.

So far, 2023 has gone a little better for THETA, but only a little. Although it shot up at the start of the year, breaking past the dollar in January and reaching highs of $1.29 on 20 and 21 February, it fell after that. 

The news that Crypto.com had suspended its US institutional operations saw THETA sink to a low of $0.5818 on 10 June. The coin then made a recovery. The news that a judge had found that Ripple’s XRP cryptocurrency was not a security if it was sold on exchanges boosted the price of THETA, which reached a peak of $0.8427 on 14 July. 

The coin dropped after that and, on 27 July 2023, it was worth about $0.811. At that time, there were one billion THETA in circulation, representing the total supply. This gave the coin a market cap of about $810 million, making it the 52nd-largest crypto by that metric. 

Theta Network Price Analysis

THETA has been in recovery mode over the last six weeks or so. It has managed to grow by nearly 40% since 10 June, but it is down by about 3.75% since 14 July.

Perhaps more importantly, it is worth around 3.3% less than the $0.8389 it was trading at on 5 June, when the United States Securities and Exchange Commission (SEC) announced it was suing the Binance crypto exchange.  

Theta Network Coin Price Prediction 

With that all out of the way, let’s take a look at some of the Theta price predictions that were being made as of 27 July 2023. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong. Also, keep in mind that many longer-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice. 

First, CoinCodex  made a short-term Theta Network price prediction that said the coin would climb to $0.8976 by 31 July before falling slightly to $0.8823 by 25 August. The site’s technical analysis was bearish, with 21 indicators sending discouraging signals and just nine making bullish ones. 

Theta Network Forecast for 2023

In terms of other Theta Network price predictions for 2023, DigitalCoinPrice  said the coin would reach $1.63, while PricePrediction.net  thought THETA would get to $1.03. Bitnation  stood somewhere between the two, forecasting the crypto to trade at $1.22 this year. 

Theta Network Forecast for 2025

When it came to a Theta Network price prediction for 2025, Bitnation was out in the lead, predicting that the coin would reach $2.85. DigitalCoinPrice thought it would trade at $2.70. PricePrediction.net was more cautious, saying THETA would be worth $2.15 in two years time. 

Theta Network Forecast for 2030

Moving on to a more long-term Theta Network price prediction for 2030, PricePrediction.net said the coin would hit $13.15 that year. Bitnation thought it would trade at $6.91. DigitalCoinPrice had a THETA price prediction that said it would reach $8.28 at the start of the next decade.

Is Theta Network a Good Investment?

It is hard to say. The principle behind the Theta Network is a good one – finding two of the biggest tech growth sectors and fusing them – but how many people are ready to come onboard is another matter.

It may be the case that the link with Pogs could be successful. On the other hand, one does have to wonder whether the NFT gaming ship has sailed and sunk over the last 18 months.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in THETA.

Will Theta Network go up or down?

No one can really tell right now. While the Theta crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Theta Network?

Before you decide whether or not to invest in Theta, you will have to do your own research, not only on THETA, but on other, related, coins and tokens such as FLOW and Near Protocol (NEAR). Either way, you should make sure you never invest more money than you can afford to lose.

FAQs 

How many Theta Network are there?

On 27 July 2023, one billion THETA were in circulation, representing the total supply.

Will Theta Network reach $10?

It could do, but it won’t happen for a while. DigitalCoinPrice says it could reach $10 by 2031 while PricePrediction.net has it getting there in 2030. 

Keep in mind that THETA has not been worth $10 since May 2021. 

What is Theta Network used for?

People who hold the THETA coin can vote on changes to the Theta Network blockchain. The crypto can also be bought, sold, and traded on exchanges. 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.