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Theta Network’s native token, <a href="https://crypto.news/price/theta-network/">THETA</a>, has constantly risen over the past two weeks as the broader crypto market gained bullish momentum. 
THETA reached a three-month high of $0.79 at around 01:00 UTC on Nov. 1 with a total market cap of $790 million. The rise comes as Theta Network’s social volume witnessed a 50% surge over the past 24 hours and a 350% boost since Oct. 28, per Santiment data. 
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 <img decoding="async" loading="lazy" width="1024" height="347" src="https://crypto.news/app/uploads/2023/11/Theta-Network-THETA-11.20.48-01-Nov-2023-1024x347.png" alt="THETA reaches 3-month high amid rise in short positions - 15" class="wp-image-14210834">
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 THETA price, social volume, Open Interest and Binance funding rate – Nov. 1 | Source: <a href="https://app.santiment.net/charts/Tlk6BI-w__sCl" target="_blank" rel="noopener">Santiment</a>
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Moreover, THETA emerged as the top gainer among the top 100 crypto assets, with a 10% hike in the past 24 hours. 
The asset is trading at $0.756 at the time of writing, with a market cap of just over $755 million. 
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<a href="https://crypto.news/theta-network-theta-a-blockchain-network-for-video-streaming/">Theta Network</a>’s 24-hour trading volume skyrocketed by 531%, reaching almost $97 million. According to data provided by the market intelligence platform, THETA’s total open interest (OI) surged by 32% over the past day, reaching $18.86 million. 
In simple terms, almost 20% of the total trading volume comes from derivatives contracts, suggesting that investors might be waiting for a major movement. 
Furthermore, the <a href="https://crypto.news/tag/binance/" data-type="link" data-id="https://crypto.news/tag/binance/">Binance</a> futures funding rate currently sits at 0.004%, down by 60% over the past day, per Santiment. 
When the Binance funding rate stands on the positive side, it suggests that the ratio of short-position holders is larger than long-position holders. 
 Read more: <a href="https://crypto.news/secs-gary-gensler-advises-crypto-industry-in-bitcoin-whitepaper-anniversary-post/"> SEC’s Gary Gensler advises crypto industry in Bitcoin whitepaper anniversary post </a>

THETA reaches 3-month high amid rise in short positions

crypto.news

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