Theta Network (THETA) has experienced a surge in its price and trading volume, reaching an eight-month high of $3.17 and a daily trading volume of $680 million. This rally has been driven by derivatives traders, as evidenced by a 77% increase in open interest, reaching an all-time high of $84 million. However, as the asset's price faces a mild correction, the funding rate has declined, indicating an increase in traders betting on a price drop. Positive social sentiment and discussions surrounding Theta Network have also increased, potentially fueling FOMO among investors. Theta Network, co-founded by Mitch Liu and Jieyi Long, has garnered support from high-profile investors such as Samsung and Sony.



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