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Theta Network postpones launch of mainnet 3.0, THETA price crashes by 20%

Theta Network (THETA) has delayed the launch of mainnet 3.0 from April 21st to June 30th. The project announces this on March 24:

Thus Theta Labs. Theta is a kind of decentralized content delivery system and video streaming service. The company states in the press release that it still has more time to take a closer look at the code and run tests.

In addition, Theta Labs reports that it is also developing a marketplace for non-fungible tokens (NFTs) and needs more time to do so. The focus on this NFT marketplace comes from the recent explosion of the NFT market.

Theta also wants to ensure that the network scales correctly when more than 100,000 Elite Edge Nodes are running. These nodes can “tokenize” internet bandwidth and serve as a decentralized storage service for NFTs. With mainnet 3.0 it will also be possible to stake TFUEL tokens via these Elite Edge Notes.

The price of Theta has risen considerably in recent times. The price was still around $ 3.00 on March 1 and rose to an all-time high (ATH) of $ 14.85 on March 24. That is an increase of almost 400% in three weeks. After the news, however, the price corrected downwards with a drop of more than 20%.

Sony Europe announced at the beginning of this month that the company has joined Theta Network.

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