• Theta Network is building web 3 technology for streaming services, with their native token THETA going bullish recently.
• The network recently released the EdgeStore, a decentralized storage solution, as well as partnering with Media Brand for Enterprise Validator Nodes.
• The token has recently breached the $1.02 resistance to hit $1.04.
Theta Network, a Web 3 technology provider, has been making headlines lately as their native token THETA has been going bullish in the past few weeks. This upward trend is a result of on-chain developments and the reversal of the sentiment on cryptocurrencies. According to CoinGecko, THETA rose 15% in the bi-weekly timeframe along with other altcoins.
Theta Network has been revving up development with the recent alpha release of EdgeStore, a decentralized storage solution for Web3 content. This will run on Theta Edge Nodes, which already have the ability to encode and transcode content. This new way of storing data can help the network and Web3 progress.
Theta Network has also been making partnerships to further accelerate the adoption of Web3 for entertainment services. Trusted Media Brand, a Web3 entertainment firm, is now part of the growing list of Theta’s Enterprise Validator Nodes. This list includes tech industry giants like Samsung, Google, and Sony to name a few.
The fear, uncertainty, and doubt surrounding the cryptocurrency market has not stopped the networks to grow, as evidenced by THETA’s token breach of the $1.02 resistance to hit its current price of $1.04. This drive towards $1 might have left some traders in awe, but the network’s developments and partnerships show that the future of Theta Network is looking bright.
If the recent trend continues, Theta Network could continue to be a major player in the Web 3 space and its native token THETA could become an essential part of the cryptocurrency market.