Theta Network Price Prediction 2024: Will EdgeCloud Phase One Help THETA?
What's next for THETA?
Key Takeaways
- The Theta Network’s THETA coin has been on something of an upturn recently.
- The news that the platform would launch a cloud network generated interest in the crypto.
- Can THETA maintain upward momentum?
- One Theta Network price prediction suggests THETA can reach $10.67 in 2025.
The Theta Network aims to put video streaming on the blockchain. The long-serving platform recently made the headlines when it announced it would be launching the EdgeCloud cloud network on May 1, 2024.
Theta Network did not immediately respond to a request for comment.
On March , THETA was worth about $3.05.
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 March 8, 2024.
Theta Network Coin Price Prediction
Let’s examine some of the Theta Network price predictions being made on March 8, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
| 2024 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $6.13 | $7.43 | $22.32 |
| Prediction #2 | $1.70 | $5.90 | $38.92 |
| Prediction #3 | $7.62 | $10.67 | $25.92 |
First, CoinCodex made a short-term Theta Network price prediction that said the coin would climb to $3.26 by March 13 before falling to $3.14 by April 7. The site’s technical analysis was bullish, with 28 indicators sending upbeat signals and just three making bearish ones.
Theta Network Price Prediction for 2024
DigitalCoinPrice said THETA would reach $6.13 this year, while PricePrediction.net thought it would get to $4.02. Bitnation said the coin would be worth $2.48 in 2024.
Theta Network Price Prediction for 2025
Bitnation’s Theta Network forecast said it would reach $10.67 in 2025. DigitalCoinPrice thought it would trade at $7.43. PricePrediction.net was more cautious, saying THETA would be worth $5.90 next year.
Theta Network Price Prediction for 2030
Moving on to a more long-term Theta Network price prediction, PricePrediction.net said the coin would hit $38.92 in 2030. Bitnation thought it would trade at $25.92 then. DigitalCoinPrice had a THETA price prediction that said it would reach $22.32 at the start of the next decade.
Google BardAI Price Prediction for Theta Network (as of March 8)
Google’s BardAI platform gave the following price prediction for Theta Network on March 8. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.
Short-term (Next few days):
- Possible increase of around 5%. Reasons: Recent positive momentum could continue, fueled by overall market sentiment (currently in “Extreme Greed” territory according to some indices).
Medium-term (Next 6 months):
- Price range between $2.93 and $8.20. Reasons: Varied predictions exist. Some analysts, like CoinCodex, predict a moderate increase due to continued adoption and positive technical indicators. However, the broader market’s direction and potential corrections could also play a role.
Long-term (Next few years):
- Gradual increase with potential for significant growth. Reasons: Theta’s focus on solving content delivery challenges aligns with the expected rise of bandwidth-intensive applications like VR and streaming. If Theta gains wider adoption and partnerships, the price could see significant growth. However, long-term predictions are inherently uncertain and depend on various factors like technological advancements and future regulations.
Important to remember:
- These are predictions, not guarantees. The cryptocurrency market is volatile, and unexpected events can significantly impact prices.
- Always do your own research before making any investment decisions. Consider factors like the project’s roadmap, team, and overall market trends.
It adds: “Please note that these are just predictions and the actual price of THETA could be higher or lower. It is important to do your own research before investing in any cryptocurrency.”
Recent Updates from Theta Network
Theta Network recently confirmed that its EdgeCloud network would come out on May 1 2024. In a blog post, it said : “The Theta engineering team has been heads down for the greater part of this past year developing the Theta EdgeCloud, one of the most advanced decentralized software platforms in edge computing.
“Its mission is to provide developers, researchers and enterprises large and small with unlimited access to GPU processing power for any AI or video task, at the most optimal cost. This approach brings the best of Cloud computing to a decentralized system, powered by the Theta Edge Network.”
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 April 16. 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%.
Theta Network in 2023 and 2024
2023 went a little better for THETA. 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 but 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, reaching a low of $0.563 on October 19. November went better, with it reaching a high of $1.14 on November 11. By December 1, it was worth about $0.99. It closed the year at $1.25, having risen nearly 75% over the course of 2023, but underperforming the market.
Theta Network rallied in March 2024 and, by March 8, it was worth about $3.05.
At that time, there were one billion THETA in circulation, representing the total supply. This gave the coin a market cap of about $3 billion, making it the 45th-largest crypto by that metric.
Theta Network Price Analysis
After reaching a record high in the spring of 2021, THETA started a multi-year bear cycle. It fell by more than 95%, dropping below $0.57 in October 2023, when a new bull phase began.
By March 8, the price of THETA had increased around of 500% since its October low. This was, most likely, its wave three out of a five-wave uptrend pattern.
THETA’s next significant resistance is at $4. After it reaches this level, a correction would be expected. If it holds above $2 on the retracement, another higher high of $8 is likely to take place.
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 will be worth keeping an eye on THETA once EdgeCloud comes out.
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.
Who are the Founders of Theta Network?
Crypto entrepreneurs Jieyi Long and Mitch Liu founded Theta in 2017.
Fact Box
| Supply and distribution | Figures |
|---|---|
| Maximum supply | 1,000,000,000 |
| Circulating supply (as of March 8, 2024) | 1,000,000,000 |
From the Whitepaper
In its technical documentation, or whitepaper , the Theta Network says it solves problems people face with video streaming. It says: “Tokens on the Theta blockchain are used as an incentive to encourage individual users to share their redundant computing and bandwidth resources as caching or relay nodes for video streams.
“This improves the quality of stream delivery and solves the “last-mile” delivery problem.”
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.
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 Network Attention Tracker
Here is a chart for the Theta Network Google search volume for the past 90 days. This represents how many times the term “Theta Network” has been Googled over the previous 90 days.
FAQs
Will Theta Network reach $10?
It could do. Bitnation says it can get there as soon as 2025, while DigitalCoinPrice and PricePrediction.net think THETA will reach double figures over the following two years.
Keep in mind that Theta Network has not traded at $10 since May 2021.
What is Theta Network used for?
THETA supports the Theta Network blockchain. People can also buy, sell, and trade it on exchanges.
Will Theta Network reach $10?
It could do. Bitnation says it can get there as soon as 2025, while DigitalCoinPrice and PricePrediction.net think THETA will reach double figures over the following two years.
Keep in mind that Theta Network has not traded at $10 since May 2021.
What is Theta Network used for?
THETA supports the Theta Network blockchain. People can also buy, sell, and trade it 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.
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