Theta Community’s native token, THETA, has continually risen over the previous two weeks because the broader crypto market gained bullish momentum.
THETA reached a three-month excessive of $0.79 at round 01:00 UTC on Nov. 1 with a complete market cap of $790 million. The rise comes as Theta Community’s social quantity witnessed a 50% surge over the previous 24 hours and a 350% enhance since Oct. 28, per Santiment knowledge.
Furthermore, THETA emerged as the highest gainer among the many prime 100 crypto belongings, with a ten% hike prior to now 24 hours.
The asset is buying and selling at $0.756 on the time of writing, with a market cap of simply over $755 million.
Theta Community’s 24-hour buying and selling quantity skyrocketed by 531%, reaching nearly $97 million. In line with knowledge offered by the market intelligence platform, THETA’s whole open curiosity (OI) surged by 32% over the previous day, reaching $18.86 million.
In easy phrases, nearly 20% of the whole buying and selling quantity comes from derivatives contracts, suggesting that buyers is likely to be ready for a significant motion.
Moreover, the Binance futures funding fee at present sits at 0.004%, down by 60% over the previous day, per Santiment.
When the Binance funding fee stands on the optimistic aspect, it means that the ratio of short-position holders is bigger than long-position holders.