Does Theta’s (THETA) Recent Price Spike Mean This Crypto Is about to Blow Up?
The Theta network appears to be doing quite well today after months of poor performance. This cryptocurrency token spiked up to $1.56 (THETA/USD) yesterday, which was a jump of 15%. The price fell some since then, but the crypto is up 2.28% today, still doing well and holding on to some of its gains.
Theta’s Recent Status
The current Theta rate is $1.42, which is an excellent price for this crypto that has had such difficulty of late. We have seen this crypto play dangerously close to the $1.00 level for quite some time now, with many investors worried that the price would drop below there. There was concern that if that happened, that would be the nail in the coffin for Theta.
We saw a recent resurgence, though, and Theta has managed to stay above $1.30 in recent days. The current trade volume for Theta is excellent, at $182,721,807.81 over a 24-hour period. This is big news for this crypto token, since that means a 92.44% jump in trade volume in that time.
Is Theta Ready to Blow up?
There is some indication that Theta could be shooting up quickly very soon. We saw a hint of that yesterday with the price hike, and that could be a signal that the price is headed up even further after today’s calm. Is it a calm before a storm, though, or a sign that interest in Theta is fading?
What’s interesting is that we did not see a similar jump from Bitcoin. Usually, Thetas price skyrockets because Bitcoin is going up as well, and the bigger token pushes up the small one. That’s not the case where, and there is genuine investor interest in Theta that could propel it much further than where it is right now.
Investors should be paying close attention to this one. This high trade volume and positive movement not associated with a wider market trend is boding well for the Theta Network.
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