Theta Fuel Achieves Market Cap of $146.89 Million (TFUEL)

Theta Fuel (TFUEL) traded down 1.4% against the U.S. dollar during the twenty-four hour period ending at 7:00 AM E.T. on December 15th. In the last seven days, Theta Fuel has traded 4.6% lower against the U.S. dollar. One Theta Fuel coin can now be purchased for approximately $0.0205 or 0.00000023 BTC on exchanges. Theta Fuel has a market capitalization of $146.89 million and approximately $1.10 million worth of Theta Fuel was traded on exchanges in the last day.

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

• Cronos (CRO) traded 0.6% lower against the dollar and now trades at $0.0970 or 0.00000108 BTC.
• Avalanche (AVAX) traded up 1.3% against the dollar and now trades at $13.22 or 0.00014743 BTC.
• Hedera (HBAR) traded 2.6% lower against the dollar and now trades at $0.12 or 0.00000132 BTC.
• NEAR Protocol (NEAR) traded down 0.4% against the dollar and now trades at $1.62 or 0.00001803 BTC.
• Internet Computer (ICP) traded 0.9% lower against the dollar and now trades at $3.18 or 0.00003542 BTC.
• Algorand (ALGO) traded down 0.6% against the dollar and now trades at $0.12 or 0.00000134 BTC.
• Cosmos (ATOM) traded 0.4% lower against the dollar and now trades at $2.14 or 0.00002382 BTC.
• Fetch.ai (FET) traded up 0.1% against the dollar and now trades at $0.24 or 0.00000266 BTC.
• PayProtocol Paycoin (PCI) traded down 1.9% against the dollar and now trades at $0.0686 or 0.00000076 BTC.
• Akash Network (AKT) traded down 2.6% against the dollar and now trades at $0.43 or 0.00000478 BTC.

About Theta Fuel

Theta Fuel (TFUEL) uses the hashing algorithm. Its launch date was March 15th, 2019. Theta Fuel’s total supply is 7,162,210,808 coins. Theta Fuel’s official website is www.thetatoken.org. 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.

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 US dollars. Investors seeking to trade Theta Fuel should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Theta Fuel using one of the exchanges listed above.

TFUEL/USD price chart by TradingView