Theta Fuel (TFUEL) Reaches 1-Day Trading Volume of $1.87 Million

Theta Fuel (TFUEL) traded 1.2% higher against the US dollar during the 1 day period ending at 8:00 AM Eastern on January 24th. One Theta Fuel coin can currently be bought for approximately $0.0184 or 0.00000021 BTC on exchanges. Theta Fuel has a market cap of $132.44 million and $1.87 million worth of Theta Fuel was traded on exchanges in the last 24 hours. Over the last seven days, Theta Fuel has traded down 7.4% against the US dollar.

Here’s how similar cryptocurrencies have performed over the last 24 hours:

• Cronos (CRO) traded up 2.1% against the dollar and now trades at $0.0931 or 0.00000104 BTC.
• Avalanche (AVAX) traded 0.7% lower against the dollar and now trades at $12.10 or 0.00013517 BTC.
• Hedera (HBAR) traded 1.4% lower against the dollar and now trades at $0.11 or 0.00000121 BTC.
• Internet Computer (ICP) traded down 2.6% against the dollar and now trades at $3.49 or 0.00003900 BTC.
• NEAR Protocol (NEAR) traded 0.9% lower against the dollar and now trades at $1.51 or 0.00001684 BTC.
• Cosmos (ATOM) traded 0.1% higher against the dollar and now trades at $2.37 or 0.00002652 BTC.
• Algorand (ALGO) traded 0.5% lower against the dollar and now trades at $0.12 or 0.00000134 BTC.
• Fetch.ai (FET) traded 1.3% lower against the dollar and now trades at $0.23 or 0.00000260 BTC.
• PayProtocol Paycoin (PCI) traded up 13.8% against the dollar and now trades at $0.0885 or 0.00000099 BTC.
• Akash Network (AKT) traded 0.4% lower against the dollar and now trades at $0.43 or 0.00000479 BTC.

Theta Fuel Profile

TFUEL uses the hashing algorithm. Its genesis date was March 15th, 2019. Theta Fuel’s total supply is 7,205,136,202 coins. The official message board for Theta Fuel is medium.com/theta-network/theta-fuel-the-operational-token-of-the-theta-network-2f6823e2182e. Theta Fuel’s official Twitter account is @theta_network and its Facebook page is accessible here. The official website for Theta Fuel is www.thetatoken.org. The Reddit community for Theta Fuel is https://reddit.com/r/theta_network and the currency’s Github account can be viewed here.

According to CryptoCompare, “The Theta Network and protocol aim to solve various challenges the video streaming industry faces today.First, tokens on the Theta blockchain are used as an incentive to encourage individual users to share their redundant computing and bandwidth resources as caching or relay nodes for video streams. This improves the quality of stream delivery and solves the “last-mile” delivery problem, the main bottleneck for traditional content delivery pipelines, especially for high-resolution high bitrate 4k, and 8k.Second, with sufficient network density, the majority of viewers will pull streams from peering caching nodes, allowing video platforms to significantly reduce content delivery network (CDN) costs. More importantly, by introducing tokens as an end-user incentive mechanism the Theta Network allows video platforms to deepen viewer engagement, drive incremental revenuesTheta Fuel (TFUEL) is the operational token of the Theta protocol. TFUEL is used for on-chain operations like payments to Edge Node relayers for sharing a video stream, or for deploying or interacting with smart contracts. Relayers earn TFUEL for every video stream they relay to other users on the network. You can think of Theta Fuel as the “gas” of the protocol. There were 5 billion TFUEL at genesis of Theta blockchain, and the supply increases annually at a fixed percentage set at the protocol level. In December 2020, Theta Labs announced Theta 3.0, which introduces a new crypto-economics design for TFuel, in particular, the concept of TFuel staking and burning. This will greatly expand the capacity and use cases of the network and maximize the utility value of TFuel.”

Buying and Selling Theta Fuel

It is usually not currently possible to buy alternative cryptocurrencies such as Theta Fuel directly using U.S. dollars. Investors seeking to acquire Theta Fuel should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Theta Fuel using one of the exchanges listed above.

TFUEL/USD price chart by TradingView