Major protocol upgrades can play a significant role in altcoin rallies regardless of the state of the wider cryptocurrency market because new features excite token holders and help to attract new investors.
One ecosystem that has been heating up over the past two weeks is the Theta protocol. The project’s THETA token rallied 50% and Theta Fuel (TFUEL) gained 71% ahead of the network’s upcoming Mainnet 3.0 launch scheduled for June 30.
THETA/USDT vs. TFUEL/USDT. Source: TradingView
Toward the end of May, price action for THETA and TFUEL began to ramp up after the project revealed that the Creative Artists Agency (CAA), a talent and sports agency, had become the newest validator node operator for the network.
The subsequent release of one-click delegated staking for the Theta web wallet also raised excitement in the community as the simplified method for earning a yield is ideal for holders who don’t want to deal with more complicated ways of yield farming.
Theta 1-click delegated staking