Here’s A Big Anomaly Amid Bitcoin Freefall

At a time when Bitcoin and a majority of the tokens are seeing turbulent times, hardly any projects are resisting the market pressure. On Friday, Bitcoin freefall took it for the first time since 2020 fell below the $20,000 level. As of writing, BTC is trading at $19,403, down 7.12% in the last 24 hours, according to CoinMarketCap.

Theta Up 10% Amid Market Crash

Contrary to the wider market sentiment in the crypto space, Theta Fuel is trading at $0.05, up 7.39% in the last 24 hours. In fact, Theta is the only token in the top 100 to maintain a significant growth percentage in last 24 hours.

The Theta network has in the recent times progressed on multiple fronts, including stitching partnerships with big players. Earlier this week, the token was one of the top gainers thanks to its collaboration with Sony Electronics.

Sony had on Thursday launched its 3D NFT ‘The Tiki Guy’ for its Spatial Reality Display on ThetaDrop. The limited edition NFT witnessed great response with the supply of 500 NFTs sold out within 30 seconds.

New Updates Boost Theta Price

Mitch Liu, the co-founder and CEO of Theta, said his team is focused on innovating. He tweeted,

“Theta network and team keeps pushing across the board. Laser focused on tech, product , innovation and great brand partnerships like Sony. This will put us way ahead when markets begin to recover.”

The Theta community has been backing the developers to ink more partnerships and grow its reach. A crypto enthusiast named Mr Altcoin on Twitter showed his confidence in the project.

“I am not selling a single THETA or TFUEL no matter how low it drops. You have my word fam! Theta network
is the future some people just don’t know it yet,” he tweeted.

Despite maintaining steady price momentum amid the market pressure, Theta’s market cap in the last week had dropped by around $13 million. From a total market cap of $298 million on June 11, TFuel fell to $285 million on June 18 amid Bitcoin freefall.

Anvesh reports major announcements around crypto adoption by institutions and popular personalities. Having been associated with the cryptocurrency industry since 2016, Anvesh is a strong advocate of decentralized technologies. Follow Anvesh on Twitter at @AnveshReddyBTC and reach out at anvesh (at) coingape.com

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.