Theta Token Edges out LINK, LTC as Institutions Stake $100M in THETA 16

Theta Token Edges out LINK, LTC as Institutions Stake $100M in THETA

Summary:

  • Theta (THETA) is now a top ten digital asset in terms of market cap
  • THETA is ranked 9th after edging out Litecoin and Chainlink
  • THETA has gained almost 100% in one week and 19,542% in one year as fundamentals continue to be strong
  • Sierra Ventures, Heuristic Capital, VR Fund, and GFR Fund have staked more than $100M in THETA to a collective Enterprise Validator Node

Theta Token (THETA) is now a top ten digital asset in terms of market capitalization.

At the time of writing, Theta is ranked 9th with a market cap of $13.769 Billion according to CoinGecko.com. Theta (THETA) managed this feat after rallying by almost 100% in the past week and consequently edging out crypto heavyweights such as Litecoin (LTC) and Chainlink (LINK).

The screenshot below courtesy of the tracking website further demonstrates this fact.

Theta Token Edges out LINK, LTC as Institutions Stake $100M in THETA 17

Theta (THETA) Rallies by 19,542% in One Year

With respect to price, Theta (THETA) is trading at $13.75 after posting an all-time high of $14.87 only hours ago. To note is that exactly one year ago, THETA was valued at roughly $0.07 which means that it has gained by 19,542% to its current value and by 21,142% to its most recent all-time high.

The chart below courtesy of CoinGecko further demonstrates the remarkable price growth of THETA in the last 12 months.

Theta Token Edges out LINK, LTC as Institutions Stake $100M in THETA 18Institutional Investors are Eyeing Theta (THETA)

In terms of fundamentals, the video streaming project of Theta Network (THETA) recently attracted four institutional investors who have staked more than $100 million in THETA to a collective Enterprise Validator Node. The four institutions include Sierra Ventures, Heuristic Capital, VR Fund and GFR Fund.

According to the official announcement, the four companies have over $2 Billion in assets under their management. Furthermore, these companies are also partners to top national endowments, pension funds and corporations.

Ben Yu, Managing Partner at Sierra Ventures, pointed out the development progress of Theta as the main reason they opted to participate in running an Enterprise Validator Node.

We were one of the earliest funds to see the potential in Theta, investing in the company’s convertible Seed round in 2016.

The massive strides that Mitch and the entire team made since affirm our confidence in Theta Network and we continue to support their groundbreaking blockchain technology by participating as an Enterprise validator.

We look forward to 100x growth as Theta transforms the media and entertainment industry.