Theta Fuel (TFUEL) Reaches One Day Trading Volume of $2.43 Million

Theta Fuel (TFUEL) traded up 0.5% against the U.S. dollar during the 1 day period ending at 7:00 AM E.T. on October 20th. During the last seven days, Theta Fuel has traded 2% lower against the U.S. dollar. One Theta Fuel coin can currently be bought for $0.0272 or 0.00000025 BTC on popular exchanges. Theta Fuel has a market capitalization of $193.09 million and approximately $2.43 million worth of Theta Fuel was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed during the last day:

• Cronos (CRO) traded up 4.9% against the dollar and now trades at $0.15 or 0.00000138 BTC.
• Avalanche (AVAX) traded 1.2% higher against the dollar and now trades at $20.72 or 0.00018703 BTC.
• Hedera (HBAR) traded up 6.5% against the dollar and now trades at $0.18 or 0.00000161 BTC.
• NEAR Protocol (NEAR) traded 3.5% higher against the dollar and now trades at $2.30 or 0.00002077 BTC.
• Internet Computer (ICP) traded 2.2% higher against the dollar and now trades at $3.16 or 0.00002850 BTC.
• Algorand (ALGO) traded 2.7% higher against the dollar and now trades at $0.19 or 0.00000170 BTC.
• Cosmos (ATOM) traded 2.7% higher against the dollar and now trades at $3.30 or 0.00002975 BTC.
• Fetch.ai (FET) traded 7.7% higher against the dollar and now trades at $0.29 or 0.00000259 BTC.
• Akash Network (AKT) traded up 1.6% against the dollar and now trades at $0.70 or 0.00000627 BTC.
• Kava (KAVA) traded up 2.8% against the dollar and now trades at $0.15 or 0.00000137 BTC.

Theta Fuel Coin Profile

TFUEL uses the hashing algorithm. It launched on March 15th, 2019. Theta Fuel’s total supply is 7,105,310,489 coins. Theta Fuel’s official message board 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.”

Theta Fuel Coin Trading

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

TFUEL/USD price chart by TradingView