Theta Fuel Reaches One Day Volume of $1.75 Million (TFUEL)

Theta Fuel (TFUEL) traded 0.3% lower against the U.S. dollar during the one day period ending at 8:00 AM Eastern on May 8th. One Theta Fuel coin can currently be bought for approximately $0.0115 or 0.00000014 BTC on exchanges. Theta Fuel has a total market capitalization of $84.36 million and $1.75 million worth of Theta Fuel was traded on exchanges in the last 24 hours. During the last seven days, Theta Fuel has traded up 1.7% against the U.S. dollar.

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

• Cronos (CRO) traded down 1.7% against the dollar and now trades at $0.0697 or 0.00000087 BTC.
• Avalanche (AVAX) traded down 0.4% against the dollar and now trades at $9.59 or 0.00011951 BTC.
• Hedera (HBAR) traded 0.3% lower against the dollar and now trades at $0.0909 or 0.00000113 BTC.
• NEAR Protocol (NEAR) traded up 3.8% against the dollar and now trades at $1.55 or 0.00001932 BTC.
• Internet Computer (ICP) traded down 2.3% against the dollar and now trades at $3.13 or 0.00003894 BTC.
• Algorand (ALGO) traded 1% higher against the dollar and now trades at $0.13 or 0.00000161 BTC.
• Cosmos (ATOM) traded down 2% against the dollar and now trades at $1.88 or 0.00002344 BTC.
• Fetch.ai (FET) traded down 0.3% against the dollar and now trades at $0.23 or 0.00000283 BTC.
• Akash Network (AKT) traded up 0.4% against the dollar and now trades at $0.66 or 0.00000827 BTC.
• PayProtocol Paycoin (PCI) traded down 1.3% against the dollar and now trades at $0.0509 or 0.00000064 BTC.

Theta Fuel Profile

Theta Fuel (CRYPTO:TFUEL) uses the hashing algorithm. It launched on March 15th, 2019. Theta Fuel’s total supply is 7,323,094,144 coins. Theta Fuel’s official message board is medium.com/theta-network/theta-fuel-the-operational-token-of-the-theta-network-2f6823e2182e. The Reddit community for Theta Fuel is https://reddit.com/r/theta_network and the currency’s Github account can be viewed here. Theta Fuel’s official Twitter account is @theta_network and its Facebook page is accessible here. Theta Fuel’s official website is www.thetatoken.org.

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. Telegram, Discord, Facebook, GitHub, RedditWhitepaper”

Buying and Selling Theta Fuel

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

TFUEL/USD price chart by TradingView