Theta Fuel (TFUEL) 1-Day Volume Hits $3.95 Million

Theta Fuel (TFUEL) traded up 1.5% against the dollar during the 1 day period ending at 14:00 PM ET on June 10th. Theta Fuel has a total market capitalization of $251.49 million and $3.95 million worth of Theta Fuel was traded on exchanges in the last day. Over the last week, Theta Fuel has traded 0.5% lower against the dollar. One Theta Fuel coin can currently be bought for $0.0361 or 0.00000033 BTC on cryptocurrency exchanges.

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

• Cronos (CRO) traded 0.8% higher against the dollar and now trades at $0.10 or 0.00000092 BTC.
• Avalanche (AVAX) traded up 2.1% against the dollar and now trades at $21.85 or 0.00020096 BTC.
• Hedera (HBAR) traded 2.1% higher against the dollar and now trades at $0.18 or 0.00000164 BTC.
• Internet Computer (ICP) traded 2.8% higher against the dollar and now trades at $6.03 or 0.00005547 BTC.
• NEAR Protocol (NEAR) traded up 4.2% against the dollar and now trades at $2.59 or 0.00002382 BTC.
• Fetch.ai (FET) traded 2.3% higher against the dollar and now trades at $0.80 or 0.00000735 BTC.
• Cosmos (ATOM) traded up 3.7% against the dollar and now trades at $4.54 or 0.00004172 BTC.
• Algorand (ALGO) traded 4.7% higher against the dollar and now trades at $0.20 or 0.00000187 BTC.
• Kava (KAVA) traded 0.1% lower against the dollar and now trades at $0.45 or 0.00000413 BTC.
• Akash Network (AKT) traded up 7.9% against the dollar and now trades at $1.41 or 0.00001295 BTC.

Theta Fuel Coin Profile

Theta Fuel uses the hashing algorithm. It was first traded on March 15th, 2019. Theta Fuel’s total supply is 6,967,538,825 coins. Theta Fuel’s official message board 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. 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.”

Buying and Selling Theta Fuel

It is usually not presently possible to purchase alternative cryptocurrencies such as Theta Fuel directly using US dollars. Investors seeking to acquire Theta Fuel should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Theta Fuel using one of the aforementioned exchanges.

TFUEL/USD price chart by TradingView