Theta Token (THETA), currently ranked among the top 100 cryptos while being placed at the spot number 91 by the latest events, has been mentioned by Binance in one of their latest announcements, so it seemed like Theta might surge with having its listing announced a couple of days back. However, it seems that Theta Token started to plummet against the dollar despite the supplement by Binance gave in the form of the announced listing that should take place on May 29th.
Binance Announces Listing for Theta Token: Reactions are Divided
One of the latest supplements that affected THETA by helping it surge against the dollar around 48 hours ago when Theta could be seen rising up against the dollar for over 30%.
The massive bounce off which resulted in an increased trading volume took place in the middle of the market crisis which made Theta Token stand out from the crowd with gaining around 32% against the dollar while trading in the green.
The main reason for having Theta Token price surging up against this fiat currency is said to be the latest announcement made officially by Binance.
Apparently, since Binance started to add coins like DigiByte and Odyssey, which most certainly increased the visibility of this token when it comes to the general interest of the investor and the market demand, so Theta Token found its way towards getting a listing on one of the biggest exchange platforms.
The opinion on the matter of having Binance listing Theta Token seem to be divided as some crypto enthusiasts are claiming that coins like Theta Token are paying for large extortion fees in order to be listed on exchanges like Binance, which were up until the recent turn of events, exclusively reserved for top prominent coins.
The other side of the community disagrees, believing that projects like Odyssey or Theta Token are far from empty coins with no real purpose. Binance seems to be sharing that vision since it started out with listing “small” coins like Theta Token.
The listing made the price of Theta Token (THETA) go up while surging against the dollar by 32%, although we can see the coin down while trading in the red only a couple of days later while dropping by over 12% at this point.
Binance has announced the listing of Theta Token with common trading pairs THETA/BTC, THETA/ETH and THETA/BNB; the coin became available for live trading on Binance on May 29th, followed by the announcement that came a day before.
The Launching of the Theta TestNet
Besides from getting the exciting news of having Theta Token listed in one of the greatest exchanges in the market, the team behind Theta Token has announced great news while reminding their Twitter followers that the date of the testnet launching is approaching.
In their latest tweet that was released at the time of this writing. On May 31st, Theta Token announced on their Twitter page that the test net is going to be launched in June while their team is going to make the blockchain source available on Github alongside with development tools for the community.
With the availability of the blockchain source, the developers would be able to join the competition and start making decentralized apps on the provided blockchain source. The best projects are to be hand-picked and sponsored by Theta Token.
This is another great move for Theta Token, and can most probably aid the coin in the market at this moment when Theta Token can be seen dropping by over -12% against the dollar.
Theta Token and the Market
Theta Token has just been added to Binance which made its price surge up by 32% against the dollar in the course of only 24 hours, despite the sluggish trend in the market that has taken over the entire market.
Theta Token marked its success in the market on the given day when the 32% surge took place; however, we can now see it dropping despite the good news about the upcoming testnet while trading in the red and going down against the dollar.
Following the latest change in the market, Theta Token has dropped by -13.25% against the dollar while trading in the red.
In addition to losing against the dollar, Theta Token is also going down against BTC by -14.89 and ETH by -16.58.
After the latest change in the market, Theta Token can now be traded at the price of 0.24$, which means that Theta Token (THETA) is being traded close to its record price of around 0.30$ which was set back in January then briefly revisited at the end of May with the listing on Binance exchange.