Theta Token (THETA) is currently ranked as the 99th best currency in accordance with the official list; however, it isn’t the fact that THETA resides among the top 100 currencies that brought an increased momentum in the market for Theta Token in the past couple of months.
What made Theta gain on the additional interest of the public is the fact that the network that is best known as the video streaming provider has its mainnet launched almost two months ago, while the progress of the token in the market is still visible even after 7 weeks have passed since the launch.
Even though the token is seen forward plummeting on the two-months chart by over -30%, THETA Token is seen going up by around 13% in a single day as noted on August 23rd, also announcing a growing number of video streaming services users.
Theta Video Streaming Services Scoring Hundreds of Thousands of Users
Although Theta Token might not be the most famous cryptocurrency in the market, it certainly makes one of the top gainers of the week as THETA Token managed to climb up by nearly 30% against the fiat even during the crisis of a bearish market.
In that spirit, THETA Token is still seen rising up against the dollar, with around 13% against the dollar in the last 2e4 hours only. Alongside, Theta team announced successful testing on the newly launched test net on SILVER.tv.
The team announced further that the new Theta test channel will allow all users to share any and all unutilized bandwidth directly from their personal computer to network users interested in enjoying full speed video streaming with improved quality and fast downloads.
What might be one of the reasons why THETA Token is currently seen spiking up despite the sluggish trend in the market, might be the fact that more users are starting to rely on Theta network for video streaming services.
The team also reported that the user base of Theta network is consequently growing with the launching of the new test channel through SILVER.tv, adding that the network has more than 300.000 users at the current moment.
The greatest number of the network users is recorded for Brazil, the US, and Russia, however, the list goes on counting users from over 149 different countries across the globe.
This case might easily explain the latest gains of TETHER.
Theta Token (THETA) Network to Challenge Netflix and Amazon
Since Theta Token is working on supporting a great number of users in a still growing user base, the team plans to create an environment for video streaming that would be able to easily challenge centralized video streaming services like Amazon and Netflix that currently count millions of users.
In order to be able to pose as a serious competition to the mentioned services, Theta network is planning on integrating a program for incentivized sharing, so that the users would be additionally motivated to keep using Theta streaming services.
In addition to the growing number of users, SILVER.tv announced that statistics are going in favor of Theta network as each user approximately spends 31 minutes on video streaming services, adding that the recorded time is almost 3 times longer than the average activity time on the majority of streaming platforms hosted on SILVER.tv.
To improve their influence in the industry of online video streaming, once the decentralized streaming network is fully prepared as planned, the users will be rewarded with THETA tokens for sharing redundant bandwidth.
Based on everything that Theta team has succeeded since the tokens were first launched at the beginning of the year, this crypto seems to be one of the most prominent assets currently available in the market, also getting support from Samsung and Sony during the first ICO sale.
Theta Token in the Market
Although THETA Token was caught in all massive market dips altogether with the majority of currencies in the crypto market, unlike toppers that lost almost 90% of their value since reaching an all-time high, THETA lost a little over 70%, gaining around 30% against the fiat in the last 7 days.
Theta Token also showed an amazing performance on August 23rd, when Tetha Token (THETA) noted a rise of around 13% against the fiat, despite the bearish market trend.
THETA is currently being traded at around 0.083$ while the team is aiming at making Theta network a leader in tokenized streaming.