Theta Fuel (TFUEL) Trading 9.3% Lower Over Last Week

Theta Fuel (TFUEL) traded 7.1% lower against the US dollar during the twenty-four hour period ending at 8:00 AM Eastern on April 2nd. Over the last week, Theta Fuel has traded down 9.3% against the US dollar. One Theta Fuel coin can currently be bought for approximately $0.0106 or 0.00000016 BTC on major cryptocurrency exchanges. Theta Fuel has a total market cap of $77.52 million and approximately $3.78 million worth of Theta Fuel was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed over the last day:

• Cronos (CRO) traded down 3.1% against the dollar and now trades at $0.0691 or 0.00000104 BTC.
• Avalanche (AVAX) traded 5.9% lower against the dollar and now trades at $8.68 or 0.00013129 BTC.
• Hedera (HBAR) traded down 4.7% against the dollar and now trades at $0.0860 or 0.00000130 BTC.
• NEAR Protocol (NEAR) traded down 5% against the dollar and now trades at $1.15 or 0.00001747 BTC.
• Internet Computer (ICP) traded down 4.7% against the dollar and now trades at $2.22 or 0.00003352 BTC.
• Algorand (ALGO) traded down 5.9% against the dollar and now trades at $0.10 or 0.00000154 BTC.
• Cosmos (ATOM) traded 4.8% lower against the dollar and now trades at $1.62 or 0.00002455 BTC.
• Fetch.ai (FET) traded down 7.9% against the dollar and now trades at $0.23 or 0.00000342 BTC.
• Akash Network (AKT) traded 9.2% lower against the dollar and now trades at $0.46 or 0.00000694 BTC.
• PayProtocol Paycoin (PCI) traded 1.5% lower against the dollar and now trades at $0.0430 or 0.00000065 BTC.

Theta Fuel Coin Profile

Theta Fuel uses the hashing algorithm. Its genesis date was March 15th, 2019. Theta Fuel’s total supply is 7,282,136,797 coins. The official message board for Theta Fuel 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 website 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”

Buying and Selling Theta Fuel

It is usually not currently possible to purchase alternative cryptocurrencies such as Theta Fuel directly using U.S. dollars. Investors seeking to acquire Theta Fuel should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase 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