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After Extremely Strong December Gains, Theta Price Explodes On New Year’s Day

The price of Theta was a mere 57 cents at the beginning of December. Looking back, Theta was one of the best performers on the cryptocurrency market in the month that just ended. From 57 cents on December 1, Theta climbed relentlessly to close out the month at a price of $1.71, for a 30 day gain of 300%.

On the first day of this new year Theta has continued to soar, reaching a high (so far) today of just slightly more than $2.30, up an eye-popping 34% in the past 24 hours.

Theta was one of the best performers on the crypto bull market in the last several weeks, and for now, there is no signal of the trend reversal.  

Theta is a decentralized peer-to-peer network that was launched in 2019, and according to analysts, this network could improve the video streaming industry as well as a broad segment of the internet itself. Theta offers better video delivery at lower costs, and it is also important to mention that Theta has partnered with Chainlink to fight against online video ad fraud.

All major cryptocurrencies are advancing this past trading week; Bitcoin has increased above the $29,000 level, and this situation also supports Theta’s price. “The bull cycle of bull cycles has started, as more and more players are starting to adopt towards Bitcoin and cryptocurrencies,” said Cointelegraph Markets analyst Michaël van de Poppe.

Theta has been moving in an uptrend last several months, and the price of this cryptocurrency has exploded in December. Theta reached a low point in 2020 on March 13 at a price of slightly more than 5.5 cents.

Theta Fuel (CURRENCY:TFUEL) traded 13.3% higher against the U.S. dollar during the one day period ending at 0:00 AM E.T. on December 30th. Theta Fuel has a total market capitalization of $152.81 million and approximately $15.51 million worth of Theta Fuel was traded on exchanges in the last day. One Theta Fuel coin can currently be purchased for about $0.0308 or 0.00000106 BTC on major cryptocurrency exchanges including Gate.io and Upbit. In the last seven days, Theta Fuel has traded 60.8% higher against the U.S. dollar.