Major protocol upgrades could play a significant role in the altcoin rally regardless of the state of the cryptocurrency market, because new features excite token holders and help attract new investors. The THETA token is up 50% and Theta Fuel (TFUEL) is up 71% ahead of the upcoming Mainnet 3.0 launch scheduled for June 30th.
As of June 6, over 60% of all THETA tokens in circulation have been locked in the network verification protocol. The cut in available supply should help mitigate the risk of a serious price drop, even as the token corrected sharply when the bitcoin price plummeted on May 19.
The dual token system received a new boost on June 7 with the release of the updated Theta v2.4.0 protocol. This was followed by a 35% rally in TFUEL price from a low of $0.42 on June 6 to an intraday high of $0.565 on June 7.
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