Theta Network (THETA) down 7.9%, but Is a Long-Term Increase Expected?
As most of the cryptocurrency market stays mostly flat today, the Theta Network (THETA) token is down 7.9%. This brings the Theta rate to $1.21 (THETA/USD) and could spell disaster for this crypto. Yet, some analysts still predict that Theta will prove to be a sound investment over the long term.
A Brief Look at Theta
THETA is the proprietary coin of the Theta network, which is a video streaming blockchain platform. The goal of this service is to offer a faster, better way to stream video, integrating with established streaming platforms to improve the way they operate. It had some success in its early days and did very well through much of 2021, but 2022 has been a tough year for Theta.
We have seen this coin gradually drop lower and lower over the past months to reach a point where it hangs out near $1. It rarely dips below that point, but that danger is always there. Recently, Theta has seen some impressive highs and lows, often moving with much more volatility than Bitcoin and some of the major cryptos. It doesn’t hold onto its gains, though, which makes it hard to call it a good investment.
Theta’s trade volume is down 26% today, but still trading over $50 million in a 24-hour period.
Theta’s rate has jumped over the last few days and then plummeted repeatedly, creating a volatile environment for investors. It appears that this is the norm for Theta for now, which means its long-term numbers could go in either direction.
Should Investors Hold on to Theta?
This crypto has proven to be a poor investment this year so far, and there is no indication that it will change that course anytime soon. Recent movement for the Theta price suggests that investors are deadest against allowing it to go below $1, but even diehard Theta supporters may not be enough to prevent a catastrophe caused by a poor economy.
We do expect the economy to turn around at some point, and then Theta might prove to be a decent long-term investment. We see some resiliency in this crypto right now, but it is hard to say if that will continue. That did achieve some incredible gains last year and proved to be a sound investment then, and a change in the economic fortunes could shift Theta back that way.
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