Theta Fuel Trading Up 8.6% This Week (TFUEL)

Theta Fuel (TFUEL) traded 0.2% lower against the dollar during the 24-hour period ending at 13:00 PM ET on April 15th. One Theta Fuel coin can now be purchased for about $0.0326 or 0.00000038 BTC on cryptocurrency exchanges. Theta Fuel has a total market capitalization of $225.20 million and approximately $2.96 million worth of Theta Fuel was traded on exchanges in the last day. In the last seven days, Theta Fuel has traded 8.6% higher against the dollar.

Here’s how other cryptocurrencies have performed in the last day:

• Cronos (CRO) traded 3.2% lower against the dollar and now trades at $0.0833 or 0.00000098 BTC.
• Avalanche (AVAX) traded 3.5% lower against the dollar and now trades at $19.41 or 0.00022911 BTC.
• Hedera (HBAR) traded down 3.3% against the dollar and now trades at $0.16 or 0.00000189 BTC.
• NEAR Protocol (NEAR) traded down 4.6% against the dollar and now trades at $2.04 or 0.00002413 BTC.
• Internet Computer (ICP) traded 1.5% lower against the dollar and now trades at $4.83 or 0.00005705 BTC.
• Cosmos (ATOM) traded 2.5% lower against the dollar and now trades at $4.06 or 0.00004796 BTC.
• Algorand (ALGO) traded 5% lower against the dollar and now trades at $0.18 or 0.00000217 BTC.
• Fetch.ai (FET) traded 6.8% lower against the dollar and now trades at $0.46 or 0.00000545 BTC.
• Kava (KAVA) traded 0.4% higher against the dollar and now trades at $0.42 or 0.00000499 BTC.
• Akash Network (AKT) traded 5.1% lower against the dollar and now trades at $1.07 or 0.00001255 BTC.

About Theta Fuel

TFUEL uses the hashing algorithm. It launched on March 15th, 2019. Theta Fuel’s total supply is 6,907,971,891 coins. 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. The Reddit community for Theta Fuel is https://reddit.com/r/theta_network and the currency’s Github account can be viewed here. The official message board for Theta Fuel is medium.com/theta-network/theta-fuel-the-operational-token-of-the-theta-network-2f6823e2182e.

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 possible to purchase alternative cryptocurrencies such as Theta Fuel directly using U.S. dollars. Investors seeking to acquire Theta Fuel should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Theta Fuel using one of the aforementioned exchanges.

TFUEL/USD price chart by TradingView