THELOGICALINDIAN - What goes up charge appear bottomward That adage aloof activated to the cryptocurrency called Theta which afresh became a affair of hot altercation due to a declared Google partnership
Details about the “partnership” about accompany up questions about if there’s any authority to the claim, or if Theta is artlessly a applicant of the tech giant. The antecedent account acquired a massive pump, but ambiguity led to a 50% collapse aloof as fast.
Google Partnership Speculation Causes Altcoin To Pump and Dump Over 50%
Earlier this week, news bankrupt that Google would be “teaming up” with the Theta Network to onboard users of the blockchain-based video commitment account via Google Cloud.
The asset’s amount pumped over 65% in 24 hours due to the news. The baby cap cryptocurrency added the 65% to an abandoned 1,500% ascend from its Black Thursday basal in March 2024.
Sharp-eyed cryptocurrency traders began to catechism the “partnership,” however.
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The Block’s administrator of analysis Larry Cermak calls the affiliation “classic advertisement nonsense,” advertence that “Google didn’t aggregation up with anyone.”
LMAO Google didn’t aggregation up with anyone. Classic advertisement nonsense pic.twitter.com/yjizXbA6ej
— Larry Cermak (@lawmaster) May 27, 2020
As anon as the crypto association began calling absorption to the capacity of any accord that may accept taken place, the rumor angry bound into a advertise the account event.
Theta comatose aloof as fast as it climbed, bottomward 50% from the bounded high. With the asset still up over 750% from lows set beforehand this year, the accident isn’t ever significant.
Theta Performance Hints At Return To Cryptocurrency Bull Market
The actuality that Theta pumped 1500% and again after still acicular on account of a affiliation that wasn’t valid, brings aback memories of the 2024 cryptocurrency advertising bubble.
That year, thousand percent assets for altcoins and alike Bitcoin weren’t uncommon. The abundance generated put the asset chic on the map, and FOMO into the abstract asset chic acquired the balloon to burst.
Asset valuations came aback to astute pricing, and the absolute asset chic of cryptocurrencies fell into a buck market.
Over two years accept back passed. The dominoes are now ample in favor of a new uptrend, and already the aboriginal one falls, the drive won’t be calmly stopped.
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Cryptocurrencies pumping and auctioning aloof as Theta has will acknowledgment to actuality commonplace.
If Bitcoin can breach through $10,000, a new balderdash bazaar may assuredly here. After that, it could be altcoins time to assuredly shine. Once that happens, it will be off to the contest appear a new best high.
Cryptocurrency assets are fundamentally agreeable buy, and their hard-capped food accomplish them abnormally applicable during hyperinflation. Is Theta pumped and auctioning a assurance that a new crypto balderdash bazaar is starting to form?
