Theta Fuel (TFUEL) One Day Trading Volume Hits $2.34 Million

Theta Fuel (TFUEL) traded down 2.5% against the US dollar during the 1 day period ending at 8:00 AM Eastern on March 29th. Theta Fuel has a total market capitalization of $81.80 million and approximately $2.34 million worth of Theta Fuel was traded on exchanges in the last day. In the last week, Theta Fuel has traded down 7.3% against the US dollar. One Theta Fuel coin can now be bought for approximately $0.0112 or 0.00000017 BTC on major cryptocurrency exchanges.

Here is how similar cryptocurrencies have performed in the last day:

• Cronos (CRO) traded 1.9% lower against the dollar and now trades at $0.0705 or 0.00000106 BTC.
• Hedera (HBAR) traded 0.7% lower against the dollar and now trades at $0.0894 or 0.00000134 BTC.
• Avalanche (AVAX) traded 1% lower against the dollar and now trades at $8.71 or 0.00013055 BTC.
• NEAR Protocol (NEAR) traded 0.4% lower against the dollar and now trades at $1.16 or 0.00001741 BTC.
• Internet Computer (ICP) traded down 1.2% against the dollar and now trades at $2.22 or 0.00003334 BTC.
• Cosmos (ATOM) traded 1.6% lower against the dollar and now trades at $1.65 or 0.00002472 BTC.
• Algorand (ALGO) traded down 1.1% against the dollar and now trades at $0.0812 or 0.00000122 BTC.
• Fetch.ai (FET) traded up 3.5% against the dollar and now trades at $0.24 or 0.00000364 BTC.
• Akash Network (AKT) traded down 2.8% against the dollar and now trades at $0.48 or 0.00000726 BTC.
• PayProtocol Paycoin (PCI) traded up 4.4% against the dollar and now trades at $0.0468 or 0.00000070 BTC.

Theta Fuel Profile

Theta Fuel (TFUEL) uses the hashing algorithm. Its launch date was March 15th, 2019. Theta Fuel’s total supply is 7,277,537,023 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. Theta Fuel’s official website 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. Telegram, Discord, Facebook, GitHub, RedditWhitepaper”

Buying and Selling Theta Fuel

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

TFUEL/USD price chart by TradingView