Theta Fuel (TFUEL) Trading 6.4% Lower Over Last 7 Days

Theta Fuel (TFUEL) traded 2.4% lower against the dollar during the 24 hour period ending at 8:00 AM E.T. on October 3rd. In the last week, Theta Fuel has traded 6.4% lower against the dollar. One Theta Fuel coin can currently be purchased for about $0.0103 or 0.00000012 BTC on major exchanges. Theta Fuel has a total market cap of $77.15 million and approximately $741.78 thousand worth of Theta Fuel was traded on exchanges in the last 24 hours.

Here is how other cryptocurrencies have performed in the last 24 hours:

• Cronos (CRO) traded 4.7% lower against the dollar and now trades at $0.0660 or 0.00000078 BTC.
• NEAR Protocol (NEAR) traded down 4.4% against the dollar and now trades at $4.66 or 0.00005486 BTC.
• Avalanche (AVAX) traded 0.8% lower against the dollar and now trades at $11.11 or 0.00013093 BTC.
• Hedera (HBAR) traded down 4.2% against the dollar and now trades at $0.10 or 0.00000120 BTC.
• Internet Computer (ICP) traded 0% higher against the dollar and now trades at $3.29 or 0.00003873 BTC.
• Algorand (ALGO) traded down 1.8% against the dollar and now trades at $0.13 or 0.00000152 BTC.
• Cosmos (ATOM) traded down 3.2% against the dollar and now trades at $1.69 or 0.00001987 BTC.
• Fetch.ai (FET) traded down 2.7% against the dollar and now trades at $0.22 or 0.00000265 BTC.
• Akash Network (AKT) traded down 2.8% against the dollar and now trades at $0.66 or 0.00000774 BTC.
• Kava (KAVA) traded 0.9% lower against the dollar and now trades at $0.0683 or 0.00000081 BTC.

Theta Fuel Profile

Theta Fuel (CRYPTO:TFUEL) uses the hashing algorithm. Its launch date was March 15th, 2019. Theta Fuel’s total supply is 7,485,933,469 coins. 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 message board for Theta Fuel 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”

Buying and Selling Theta Fuel

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

TFUEL/USD price chart by TradingView