Want to hit the positives since I've hit the Theta negatives recently
As I see it there are 3 main things that keep me overweight in the Theta project. I've been critical as of late and I think it has been deserved. I have no problem patting the back of the Team when they do well so it shouldn't be an issue to kick them in the pants when they drop the ball. I know that doesn't make the booty lickers happy but here it goes.
1. Staking: This has been the biggest plus in my book by far. We have seen 65 million newly staked Theta in just a few months time. We could speculate when these were bought, what wallets they were hidden in but it's all guess work but there is real money and interest out there in this project. Why is Thetas price so badly getting out paced by other projects? I dont know but hopefully and I believe it will turn around.
2. Patents: The amount received and applied for gives me a strong conviction that this is going to be the reason many will be funneled to Theta network as opposed to competitors. It will be interesting to see this play out. This is obviously a well connected project and behind the scenes power players have a vested interest in this project succeeding.
3. On chain wallet growth: I'm always checking this number and its steadily climbing daily. Although not as important as the other 2 IMO it's a good behind the scenes strong indicator that there is continued growth regardless of what price is doing.
Sadly I think we are probably going to see a #30 or below market cap before we take off again. However there is a strong chance it catches fire like it did earlier this year pushes back into the top 15. On a side note its clear the Theta Network is the number 1 blockchain amongst witches, physics and spooky women globally so we do have that going for us I guess