Theta, the cryptocurrency of blockchain project Theta Network, has jumped above Chainlink in terms of market cap. The digital asset is now the 10th largest cryptocurrency in the world with a market cap of more than $11 billion.
According to the latest data published by Coinmarketcap, Theta is up by more than 70% in the last 7 days. The digital currency is now more valuable than USDC, Bitcoin Cash (BCH), Stellar (XLM), and Dogecoin (DOGE).
Theta blockchain in an end-to-end infrastructure for decentralized video streaming and delivery. The core advisors include Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.
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“Theta’s core advisor is YouTube co-founder Steve Chen, with sufficient funds, top 10 holds 61% of the currency, which may be easy to manipulate the market, the new version of Theta will be launched in the near future and keep up with the NFT boom. Some of Theta’s investors and advisors have a poor reputation in China, but it is irrationally sought after in South Korea. According to CMC data, the trading volume of Theta/KRW on Bithumb, the leading exchange in South Korea, ranks fourth,” Wu Blockchain, a China-based crypto researcher mentioned on Twitter.
Theta’s Price Jump
Theta started this year with a price level of $1.9. The cryptocurrency registered a jump of more than 500% in the last 12 weeks. As of writing, the world’s 10th largest cryptocurrency is trading near $11.15 with a market cap of around $11.2 billion. The recent boom in altcoins has contributed a lot towards the jump in the price of Theta. The cryptocurrency assets like IOTA, Filecoin, TRON, Kusama, and BTT have also posted strong gains in the last 7 days. The surge in altcoins is causing a drop in the market dominance of Bitcoin.
BTC’s market dominance dropped from 62% to 59.5% within the last 7 days. The world’s top 5 cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), and Cardano (ADA).