Theta Fuel (TFUEL) Hits Market Cap of $58.58 Million

Theta Fuel (TFUEL) traded up 1.7% against the dollar during the one day period ending at 8:00 AM Eastern on July 19th. One Theta Fuel coin can now be purchased for $0.0079 or 0.00000012 BTC on popular cryptocurrency exchanges. Over the last seven days, Theta Fuel has traded 1.3% lower against the dollar. Theta Fuel has a market cap of $58.58 million and approximately $1.55 million worth of Theta Fuel was traded on exchanges in the last day.

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

• Cronos (CRO) traded 3.4% lower against the dollar and now trades at $0.0589 or 0.00000092 BTC.
• Hedera (HBAR) traded up 0.4% against the dollar and now trades at $0.0666 or 0.00000104 BTC.
• Avalanche (AVAX) traded 1.4% lower against the dollar and now trades at $6.45 or 0.00010031 BTC.
• NEAR Protocol (NEAR) traded 0% lower against the dollar and now trades at $1.92 or 0.00002978 BTC.
• Internet Computer (ICP) traded up 0.1% against the dollar and now trades at $2.15 or 0.00003350 BTC.
• Cosmos (ATOM) traded down 0.7% against the dollar and now trades at $1.48 or 0.00002305 BTC.
• Algorand (ALGO) traded 0.4% lower against the dollar and now trades at $0.0818 or 0.00000127 BTC.
• Fetch.ai (FET) traded 0.8% lower against the dollar and now trades at $0.16 or 0.00000244 BTC.
• Akash Network (AKT) traded up 1.5% against the dollar and now trades at $0.54 or 0.00000834 BTC.
• PayProtocol Paycoin (PCI) traded 0.2% higher against the dollar and now trades at $0.0378 or 0.00000059 BTC.

Theta Fuel Profile

Theta Fuel (TFUEL) uses the hashing algorithm. Its genesis date was March 15th, 2019. Theta Fuel’s total supply is 7,403,659,913 coins and its circulating supply is 7,403,659,912 coins. Theta Fuel’s official website is www.thetatoken.org. The official message board for Theta Fuel 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 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. Telegram, Discord, Facebook, GitHub, RedditWhitepaper”

Buying and Selling Theta Fuel

It is usually not presently 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, Coinbase or Gemini. 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