According to data from Coingecko, NFT’s dominance over the global cryptocurrency market is 1.1%. The Theta Network token ranks in the top ten of the major NFTs.
The non-fungible token (NFT) market continues to gain ground in the cryptocurrency ecosystem. At the time of writing this note, its market capitalization exceeded USD 23 billion (USD 23,724,610,258.11), while the total trading volume is more than USD 2 billion (USD 2,642,766,991.02) in the last 24 hours.
The statistics can be found on the Coingecko portal. The portal also stated that currently, NFT’s dominance over the global cryptocurrency market is 1.1%. Comics, music, works of art, literature, and even famous tweets have been converted into NFT, for which they have gained millions of followers around the world. For their better custody, they currently count on a decentralized storage service in Filecoin.
NFTs are digital assets or tokenized versions of real items and representative stuff in the real world that have the particularity of not being interchangeable with each other. These NFTs can work as proof of authenticity and ownership within the digital world.
Theta Network Token Ranks in the Top Ten of the Main Cryptocurrencies
The Theta Network Token is a decentralized blockchain-based video broadcasting network, which posted 41.8% dominance. In this way, it now appears on the charts of the main NFTs by market capitalization with more than USD 9 billion, according to data collected by Coingecko.
Theta network came to light in early 2019; the theta mainnet plays the role of a decentralized network in which users share peer-to-peer (P2P) computing resources. The project is in Steve Chen’s hands, he is the co-founder of YouTube. He and Justin Kan, the co-founder of Twitch, are leading the project.
Theta has its native cryptocurrency token, THETA, which works through various tasks within the network, and features Google, Binance, Blockchain ventures, Gumi, Sony Europe, and Samsung, along with a guardian network of thousands of gatekeepers.
Theta is the main token for the Theta platform and is freely tradable on all big exchanges. The pairs include cryptocurrencies, fiat currencies, and stablecoins. In October 2020, the highest volume pairs came from Binance.
In the last week of 2018, the theta token increased its value 59% from USD 0.160 to USD 0.259, showing its highest point on May 30 of that year with a value of USD 0.290 per coin.
This figure was, at the beginning of this week, USD 185.5 million, although this figure later crumbled down and is now at 165.6 million dollars. The reason for this increase is that the token appeared listed on the Binance exchange, the second platform with the highest volume of exchange according to Coinhills.
By: Jenson Nuñez
