THETA, the native token of the Theta Network, a decentralized blockchain-based video delivery network, has entered the top 10 cryptocurrencies by market capitalization.
It has been reported according to data from CoinGecko that THETA overtook Chainlink’s LINK as the 10th biggest cryptocurrency by market cap at nearly $11.5 billion.
However, THETA has seen huge growth recently, gaining 70% over the last week and hitting new historical highs. The coin has seen consistent growth in 2021, even outperforming Bitcoin’s (BTC) late-2020 rally.
The report said that THETA’s entrance to the top 10 coins by market cap comes soon after major altcoin Bitcoin Cash (BCH) dropped off the top 10 list in early March. The new all-time highs (ATH) for THETA come shortly after Theta Labs secured its second patent on designs for decentralized blockchain-based video and data delivery from the United States Patent and Trademark Office on March 16.
The native token of @Theta_Network overtakes LINK in terms of market capitalization at $11.5 billion. https://t.co/iQKzAGj07l — Cointelegraph (@Cointelegraph) March 23, 2021
Earlier in March, Theta Labs released an open-source code for the Theta protocol version 2.2.0 on its GitHub.
As previously reported, the Theta Network has been actively growing its validator program, attracting collaboration with Fortune Global 500 firms like Google, Samsung, and Sony, as well as major industry firms like Binance, Blockchain.com, and Gumi.