Theta Fuel (TFUEL) Price Down 2.8% This Week

Theta Fuel (TFUEL) traded up 0.7% against the US dollar during the 24-hour period ending at 8:00 AM E.T. on May 24th. Theta Fuel has a total market cap of $78.51 million and approximately $1.65 million worth of Theta Fuel was traded on exchanges in the last 24 hours. In the last week, Theta Fuel has traded 2.8% lower against the US dollar. One Theta Fuel coin can currently be bought for about $0.0107 or 0.00000014 BTC on exchanges.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• Cronos (CRO) traded 2.3% higher against the dollar and now trades at $0.0694 or 0.00000090 BTC.
• Avalanche (AVAX) traded up 4.4% against the dollar and now trades at $9.29 or 0.00012071 BTC.
• Hedera (HBAR) traded up 3.4% against the dollar and now trades at $0.0889 or 0.00000115 BTC.
• NEAR Protocol (NEAR) traded 15.3% higher against the dollar and now trades at $2.37 or 0.00003083 BTC.
• Internet Computer (ICP) traded 4.6% higher against the dollar and now trades at $2.57 or 0.00003342 BTC.
• Cosmos (ATOM) traded up 3.5% against the dollar and now trades at $2.08 or 0.00002706 BTC.
• Algorand (ALGO) traded 2.4% higher against the dollar and now trades at $0.11 or 0.00000147 BTC.
• Fetch.ai (FET) traded 8.2% higher against the dollar and now trades at $0.21 or 0.00000273 BTC.
• Akash Network (AKT) traded 12.7% higher against the dollar and now trades at $0.83 or 0.00001080 BTC.
• PayProtocol Paycoin (PCI) traded 0.7% higher against the dollar and now trades at $0.0490 or 0.00000064 BTC.

Theta Fuel Profile

TFUEL uses the hashing algorithm. Its launch date was March 15th, 2019. Theta Fuel’s total supply is 7,341,367,052 coins. 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. The official website for Theta Fuel 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.

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 purchase alternative cryptocurrencies such as Theta Fuel directly using US dollars. Investors seeking to acquire Theta Fuel should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX 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