The THETA coin has become a hot topic in the world of cryptocurrency, which means you might be interested in THETA coin news and finding out what is going to happen to it.
Can we make a THETA coin price prediction? Is THETA a good investment 2022? Let’s have a look.
THETA explained
At the start of the coronavirus pandemic – and with the associated lockdowns – live streams of music concerts and sporting occasions became extremely popular, but low-quality streaming proved problematic for viewers and content creators.
Content creators aim for high quality, but existing technology cannot quite keep up with what people want to achieve. This can be a problem, especially when people have paid to watch a stream and have to suffer poor picture quality and buffering.
Theta Network creates a worldwide group of users who offer their spare bandwidth and other resources to help stream videos. In theory, more bandwidth means high-quality streams with less buffering.
How THETA coin works
Developers can use the Theta Network to build decentralised applications on top of its blockchain, such as apps for royalty distribution and crowdfunding. Theta is becoming popular with online content creators who want more control over their videos – how they are watched, their quality and how they get paid for them.
The Theta blockchain runs in the background, helping to establish a consensus mechanism and paying out rewards. It has two native currencies: theta fuel (TFUEL), which is used to pay out rewards to the Edge Nodes, and THETA coin, which went live in 2019.
In 2018, the company held a private sale of 30% of the 1 billion THETA coins available. This raised about $20m and started to generate interest in the theta token. THETA coin, which is really a token, allows people to stake a claim on voting rights and validate transactions.
One important thing to note when looking at the THETA price is its limited supply. You cannot mine the token – you must wait for someone to sell it.
THETA price history
The THETA price stayed at around the $0.10 mark for the first couple of years of its existence, but in 2020 things started to move. It broke the $0.20 barrier in May 2020, hit $0.70 in early December and passed $1 for the first time on 22 December.
And then the price soared. It reached $2.13 on 5 January 2021 and $3.19 on 14 February. At the end of February, it stood at just under $3.10. In March it rose further, ending the month at $12.21, an increase of more than 293%. THETA reached an all-time high of $15.08 on 16 April 2021.
The THETA coin then suffered huge losses during the cryptocurrency crash of 19 May 2021. By 3 June, it was worth $8.93, considerably more than it was at the start of 2021, but still no way near its all-time highs of a few months earlier, and it hit a low of $4.75 in late September 2021.
Some of those losses were recovered, with THETA peaking at $8.35 in late October and moving once more in an upward trend. However, many cryptocurrencies struggled over December and into the New Year, and by 24 January 2022 the token was trading at $2.59, its lowest price for almost 12 months.
On 23 February 2022 the coin was trading at $2.94, but when Russia invaded Ukraine the next day, the price fell to $2.28. After that, it managed to recover somewhat, boosted by news that a hard fork would take place on 14 March. On 11 March, it stood at around $2.93. In late March, the price soared and it reached a high of $4.38 on 1 April. After that, though, it slid back down and was trading at about $3.45 on 8 April.
China’s crypto ban saw the coin slide to a low of $2.96 on 11 April, but there was some recovery as it reached $3.52 on 21 April. The market then slowed down and, on 4 May 2022, it was worth around $2.35. The decline was exacerbated by the market turmoil following the depegging of UST and the collapse of LUNA and, by 17 May, it was worth $1.38.
The downturn was not over, though: on 27 May it dipped to $1.07, before making something of a recovery to stand at $1.33 on 31 May. By 17 June, it had dipped again to trade at $1.19 in the wake of the cancellation of withdrawals on the Celsius crypto-lending platform. The following day it got even worse, falling to $1.06, but then there was a recovery to $1.54 on 25 June. By the end of the month it had fallen to $1.16. The next month saw something of a recovery, with it reaching $1.36 on 20 July before in sank back down to $1.14 on 26 July. August saw some recovery, with the token reaching $1.71 on 8 August, but then there was another downturn and, on 18 August, THETA stood at about $1.40.
THETA coin price prediction
Looking to the future, Gov Capital has a THETA price prediction sees it close 2022 at just under $1.92, before reaching $7.03 on 18 August 2023, reaching a fraction of a cent under $22.50 the same date in 2025 and trading at $43.09 on 18 August 2027.
CryptoGround suggests a THETA value of a little under $3.72 in one year and a shade under $17.61 in five years’ time.
TradingBeasts says that the THETA price in 2022 could be just under $1.51 at the end of the year, before it closes 2023 at a little under $1.66. A year from then, it could be up to trade at about $2.14 while a Theta Network Price prediction for 2025 could stand at around $2.64.
Finally, PricePrediction.net suggests that THETA could hit $1.88 in 2022, before rising to $5.54 in 2025. Its Theta Network price prediction for 2030 is $35.18. The year after that, the THETA price prediction sees it trade at $51.61.
Any good THETA coin review will tell you that price predictions are often wrong, as they are not representative of all market conditions. Remember that cryptocurrencies are highly volatile. The value of investments can go down as well as up, and you should never invest more than you can afford to lose.
Is THETA a good investment 2022?
For THETA coin price predictions, the trend is debatable. The consensus among some analysts is that it will rise, although by how much and how quickly is a matter of conjecture. As ever, remember to do your own research.
Hope this article can provide you a better understanding about THETA coin price prediction.
