As of January 2023, THETA is among the top 50 cryptocurrencies by market cap. It is a popular digital asset among crypto traders, enjoying high liquidity and trading volume on leading exchanges.
One key reason that makes THETA stand apart from its competitors is the commercial use case for the underlying Theta Network. The Theta project aims to revolutionize online content streaming using blockchain technology and is one of the most promising applications for the technology in the market.
This makes its native token THETA a valuable asset to trade or hold. The THETA price enjoys an uptrend amid the rising adoption of the Theta Network by developers, dApps, and end users, driving higher on-chain activity.
In addition, the THETA price statistics also receive support from an uptick in Web3 adoption. As a PoS, EVM-compatible network that runs smart contracts, the Theta Network is an attractive platform for developers to design dApps. The higher the innovation and number of dApps on its network, the more valuable the THETA token becomes.
Finally, positive market sentiment towards cryptocurrencies, in general, could also power bullish moves in the Theta Token price. When the price of top cryptos like Bitcoin and Ethereum trades higher, more investors feel confident in buying digital assets across the crypto market, which could drive up the THETA price.