2021 was a rollercoaster ride for many projects in the cryptocurrency market but as is the nature of crypto, many tokens hit new all-time highs and then spent the following months drifting lower as the hype surrounding the project faded and traders moved into greener pastures.
This is exactly what happened with Theta, a decentralized broadcasting platform that allows users to earn rewards by contributing their computing resources toward the health of the network.
Theta token kicked off its run on Dec. 11, 2020, when it rose 2,468% from a price of $0.621 to a new record high at $15.90 on April 16, 2021, as Global 500 firms like Google and Sony Europe joined the network’s validator program and Theta Labs was granted its second patent on designs for decentralized blockchain-based video and data delivery.
Data from Cointelegraph Markets Pro and TradingView shows that, since hitting a high of $5.98 on Dec. 27, the price of Theta has slid down to its major support near $3.85 as the wider cryptocurrency market fell under pressure.
THETA/USDT 1-day chart. Source: TradingView
Even with the reversal of fate, Theta still has a handful of fundamental reasons for holders to be bullish in the long-term.
Three reasons to remain bullish on THETA in 2022 include the upcoming launch of the ThetaDrop nonfungible token (NFT) marketplace, the addition of new staking resources and the overall focus on live streaming and gaming which is currently supported by big-name partnerships and integrations.
ThetaDrop launches on February 1
One of the biggest developments for Theta in 2022 will be the full launch of its ThetaDrop NFT marketplace. Plans on airdropping the TDrop governance tokens to members of the Theta community start on Feb. 1.
ThetaDrop does not have any plans for a token sale and instead plans to release its 20 billion token supply over a four-year period to members of the community who provide NFT liquidity mining or stake THETA, TFUEL and TDRop on the network.
TDrop supply release schedule. Source: TDrop whitepaper
On top of…