The Theta Mainnet 2.0 launches in the altcoin news today but we can also notice that some high profile partnerships were behind the four-figure percentage gains for Theta’s tokens (THETA and TFUEL) since March this year. Therefore, many analysts are wondering what stands behind this altcoin’s massive rally.
The crypto powered eSports streaming app Theta continues to rally as we speak, gaining 150% in the past two weeks ahead of its Theta Mainnet 2.0 launch. In addition to these technical upgrades, Theta’s rally appears to have also been fueled by a series of partnerships with major media platforms including Android TV and Samsung.
For those of you who don’t know or haven’t read in our cryptonews, Theta is a cryptocurrency powered 24/7 streaming service showcasing live eSports, World Poker Tour tournaments and major blockchain and cryptocurrency conferences including Consensus and the Crypto Asia Summit.
In that manner, users are rewarded for activity and engagement on the platform in the form of Theta’s proprietary rewards token G Fuel. The Theta Token is earned through staking.
As of lately, we could see how the Theta Token posted record highs of $0.185 on May 12 and since then has gained a further 150%. Measured against BTC, Theta Token’s gains aren’t quite as impressive. However, the token has still surged 360% in six weeks from less than 1,100 satoshis to test the previous record high at the market at roughly 5,225 satoshis.
As the Theta Mainnet 2.0 launches, we can also see the “brother cryptocurrency” of Theta Token (THETA), named Theta Fuel (TFUEL), which is the operational crypto asset used to finance transactions across the Theta network (similar to gas on Ethereum). This coin is also dominating the top gaining crypto asset charts – and the price is surging five-fold, going from $0.0035 to $0.0153.
The Theta Mainnet 2.0 is scheduled for today, May 27, and will result in trade for Theta’s tokens being temporarily suspended – which may disrupt the current momentum of the altcoin(s) on the market right now.
In the run-up to the launch, Theta also reported that the number of relay nodes had increased from 1,000 to 1,821 in just six days which is another impressive factor. On top of that, the on-chain transactions also doubled over the past week.
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