- Theta Mainnet 3.0 will now be launched by the end of June 2021.
- THETA recorded a growth rate of 961% between January 1 to March 14, whereas its sister token, TFUEL recorded 1921% during the same period.
- THETA gained 17% of its dollar value within 4 hours after its prices dropped 25%.
2021 has turned out to be phenomenal for THETA Labs as their native cryptocurrencies touched an all-time high price. But on March 25th, Theta’s prices dropped 25% after the news about a two-month delay in the mainnet launch became public.
THETA token holders were excited about the mainnet 3.0 official launch that was bound to be launched next month. They were left disappointed after the Theta team announced on March 24 that the Mainnet 3.0 launch will now be launched by the end of June.
Losing a Quarter of its Value
The market reacted severely after Theta Labs’ announcement as THETA’s price plummeted from $14.43 to $10.73 by early Thursday morning. It means that THETA lost almost a quarter of its value overnight.
The delay in the mainnet launch is caused by the Theta team’s last-minute decision to add an NFT marketplace and a late code review. In their announcement, Theta stated:
“Key partnership opportunities in the NFT space have required us to devote resources to building out the upcoming Theta NFT marketplace in a broader approach, and incorporating some of these foundational elements into Mainnet 3.0 core.”
A Three-month Dream run
During the period between January 1 to March 24, Theta’s prices were on a constant upward trajectory that many even consider being miraculous. Thus, a 25% dip in the prices has not been that unsurprising.
Rising from the dollar value of $1.36 on January 1 to $14.43 on March 24, Theta recorded an impressive growth rate of 961%. It is important to mention here that Theta follows a dual token system, and the second token is known as Theta Fuel (TFUEL).
Recording a growth rate of 1921% between January 1 and March 24, TFUEL’s price gain was even more impressive than its sister token. But the 25% drop in the prices of THETA also affected TFUEL’s prices as it too lost a quarter of its dollar value overnight, 25.6% to be specific.
The price drop did not last for long as within four hours after THETA and TFUEL lost a quarter of their dollar value, they regained back 17% and 20% of their values, respectively.