Theta Fuel (TFUEL) Market Cap Hits $80.66 Million

Theta Fuel (TFUEL) traded down 3.5% against the U.S. dollar during the 24-hour period ending at 8:00 AM ET on May 16th. One Theta Fuel coin can currently be bought for approximately $0.0110 or 0.00000014 BTC on major exchanges. Theta Fuel has a total market capitalization of $80.66 million and approximately $2.47 million worth of Theta Fuel was traded on exchanges in the last day. In the last week, Theta Fuel has traded down 7% against the U.S. dollar.

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

• Cronos (CRO) traded down 5% against the dollar and now trades at $0.0712 or 0.00000091 BTC.
• Avalanche (AVAX) traded 5.3% lower against the dollar and now trades at $9.25 or 0.00011850 BTC.
• Hedera (HBAR) traded 2.3% lower against the dollar and now trades at $0.0910 or 0.00000117 BTC.
• NEAR Protocol (NEAR) traded 3.8% lower against the dollar and now trades at $1.49 or 0.00001913 BTC.
• Internet Computer (ICP) traded down 3% against the dollar and now trades at $2.61 or 0.00003342 BTC.
• Cosmos (ATOM) traded 1.6% lower against the dollar and now trades at $1.97 or 0.00002525 BTC.
• Algorand (ALGO) traded down 4.9% against the dollar and now trades at $0.11 or 0.00000142 BTC.
• Fetch.ai (FET) traded down 7.2% against the dollar and now trades at $0.20 or 0.00000250 BTC.
• Akash Network (AKT) traded down 12.9% against the dollar and now trades at $0.69 or 0.00000884 BTC.
• PayProtocol Paycoin (PCI) traded down 1.4% against the dollar and now trades at $0.0496 or 0.00000063 BTC.

Theta Fuel Coin Profile

TFUEL uses the hashing algorithm. It was first traded on March 15th, 2019. Theta Fuel’s total supply is 7,332,248,777 coins. 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. The official website for Theta Fuel is www.thetatoken.org. 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. Telegram, Discord, Facebook, GitHub, RedditWhitepaper”

Theta Fuel Coin Trading

It is usually not presently 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 Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Theta Fuel using one of the aforementioned exchanges.

TFUEL/USD price chart by TradingView