Theta Rallies In Anticipation Of Upcoming TDROP LaunchJanuary 31, 2022 6:14 pm
Theta has been steadily recovering from its recent lows in the market and social media attention has increased recently for the video-delivery blockchain.
The blockchain focuses on being a decentralized video-sharing network that is powered by the users on the network and aims to make video delivery much more efficient by utilizing a mesh network of the video content.
Theta has been running on its own mainnet since 2019 although it had initially launched as an ERC-20 token.
Focus on Theta has usually been relatively quiet, but a few major upcoming events have caused the price of Theta to surge and the blockchain receive more attention than usual.
The main event coming is the the TDROP launch that is expected to take place within a number of days which will essentially launch a NFT liquidity mining token that can be used within the Theta ecosystem.
“Everything you need to know about the February 1st TDROP Launch— VIP Benefits, Staking, and…” by Theta Labshttps://t.co/noNgZ3o9Nl
— Tj – Stocks📊• Crypto💻• Econ🌍 (@YoungBlkGifted) January 30, 2022
The major catalyst behind THETA’s ongoing rally is the TDROP launch expected to take place in five days.
The Theta Network team announced a few hours ago that it had updated its Theta Explorer with support for TNT-20 tokens, TNT-721 NFTs, and exact TFUEL token burn amounts for each transaction.
TDROP is the NFT liquidity mining token for the Theta ecosystem, and it is designed to work with THETA and TFUEL tokens to incentivize onchain transactions volumes and blockchain security.
As a result, it was recorded that social media activity regarding Theta has recently increased by around 40% in just the past week alone.
This attention increased and enabled the price of Theta to recover despite the current downward pressure in the crypto market.
With that being said, investor sentiment has been starting to improve recently as it was recently recorded that institutional flows have become positive again for the first time in 5 weeks.
Theta is also considered right now once of the most underrated blockchain projects that has a lot of untapped potential and currently has a total market cap at almost $3 billion making it the 42nd largest blockchain project.
Preparation continues for TDROP launch in just 6 days! Theta Explorer has now been updated with support for TNT-20 tokens, TNT-721 NFTs, and exact TFUEL token burn amounts for each transaction. Search your transactions at https://t.co/k6Fcq3ZAgT to see the new features in action pic.twitter.com/mJYrPQ3oa1
— Theta Network (@Theta_Network) January 26, 2022
At the time of writing, Theta Network (THETA) was trading at $3.06, up nearly 7% over the last 24 hours.
Investors are awaiting the launch of TDROP, an NFT platform expected to operate on the Theta Network (THETA) in the coming days.
The improved investor appetite has also been felt by THETA Fuel which has surged by over 10% as well in 24 hours.
The launch of TDROP is actually big. In fact, we have seen THETA gaining a lot even before the news becomes official. We expect the token to surge even further once the news is announced. The recent rally also comes after THETA crashed to monthly lows of around $2.27 about a week ago.
— cryptoboss ⚡️ (@cryptobossca) January 27, 2022
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