Theta Fuel (TFUEL) Achieves Market Capitalization of $218.88 Million

Theta Fuel (TFUEL) traded down 8% against the US dollar during the 1 day period ending at 13:00 PM Eastern on April 3rd. One Theta Fuel coin can now be bought for approximately $0.0317 or 0.00000039 BTC on major exchanges. During the last seven days, Theta Fuel has traded down 20.9% against the US dollar. Theta Fuel has a total market capitalization of $218.88 million and approximately $4.84 million worth of Theta Fuel was traded on exchanges in the last day.

Here’s how related cryptocurrencies have performed during the last day:

• Cronos (CRO) traded 9.6% lower against the dollar and now trades at $0.0947 or 0.00000116 BTC.
• Avalanche (AVAX) traded down 9.6% against the dollar and now trades at $17.88 or 0.00021856 BTC.
• Hedera (HBAR) traded down 8.2% against the dollar and now trades at $0.16 or 0.00000192 BTC.
• NEAR Protocol (NEAR) traded 9.6% lower against the dollar and now trades at $2.40 or 0.00002935 BTC.
• Internet Computer (ICP) traded down 6.8% against the dollar and now trades at $5.02 or 0.00006135 BTC.
• Cosmos (ATOM) traded down 3.5% against the dollar and now trades at $4.36 or 0.00005333 BTC.
• Algorand (ALGO) traded down 11.3% against the dollar and now trades at $0.17 or 0.00000209 BTC.
• Fetch.ai (FET) traded 9.7% lower against the dollar and now trades at $0.42 or 0.00000515 BTC.
• Kava (KAVA) traded 0.1% higher against the dollar and now trades at $0.40 or 0.00000487 BTC.
• Akash Network (AKT) traded 13.2% lower against the dollar and now trades at $1.12 or 0.00001361 BTC.

Theta Fuel Profile

TFUEL uses the hashing algorithm. Its genesis date was March 15th, 2019. Theta Fuel’s total supply is 6,895,070,581 coins. 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. Theta Fuel’s official message board 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 currently possible to buy alternative cryptocurrencies such as Theta Fuel directly using U.S. dollars. Investors seeking to acquire Theta Fuel should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Theta Fuel using one of the exchanges listed above.

TFUEL/USD price chart by TradingView