Theta Fuel is up by 700% in a Week

Colin Baseman

During the week, the price of the token of the Theta project called Theta Fuel increased by more than 700%, from $0.002 to the current mark of $0.016. On May 25, the altcoin exchange rate set a historical high of $0.025. The daily trading volume of the coin increased by 51% and reached $272 million. Because of the sudden surge in price, it was able to take 84th place in the rating of cryptocurrencies by capitalization.

The growth of the price was also shown by another cryptocurrency of the project. Over the same period, the Theta token has risen in price by almost 100% and is now trading at $0.36. The daily trading volume of the coin increased by 80%, to $110 million, and the ranking in terms of capitalization is 30.

The main driver of the growth in the value of tokens may be the launch of the main Theta network. In addition, the Theta app.tv will soon be available on the Samsung Daily platform on Galaxy mobile devices. Binance exchange announcement about support may have tipped the scales as well. The company announced on its official website that it will support the update of the Theta blockchain.

On may 21, the I/O Coin token rose by 5800%, which allowed it to toke 223rd place in the rating of cryptocurrencies by capitalization. However, the exact reason for the rise in price of the coin is unknown. The project team did not announce any significant updates or developments.