Theta Fuel (TFUEL) Hits Market Cap of $115.31 Million

Theta Fuel (TFUEL) traded down 3% against the US dollar during the 1-day period ending at 8:00 AM Eastern on February 1st. In the last week, Theta Fuel has traded down 11.6% against the US dollar. Theta Fuel has a total market cap of $115.31 million and $11.46 million worth of Theta Fuel was traded on exchanges in the last 24 hours. One Theta Fuel coin can currently be purchased for approximately $0.0160 or 0.00000020 BTC on major cryptocurrency exchanges.

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

• Cronos (CRO) traded 1.8% lower against the dollar and now trades at $0.0807 or 0.00000103 BTC.
• Avalanche (AVAX) traded down 4.7% against the dollar and now trades at $10.08 or 0.00012873 BTC.
• Hedera (HBAR) traded 4.2% lower against the dollar and now trades at $0.0909 or 0.00000116 BTC.
• Internet Computer (ICP) traded down 5.2% against the dollar and now trades at $2.71 or 0.00003455 BTC.
• NEAR Protocol (NEAR) traded 6.6% lower against the dollar and now trades at $1.20 or 0.00001527 BTC.
• Cosmos (ATOM) traded down 3.9% against the dollar and now trades at $1.97 or 0.00002511 BTC.
• Algorand (ALGO) traded 4.5% lower against the dollar and now trades at $0.10 or 0.00000132 BTC.
• Fetch.ai (FET) traded down 4.6% against the dollar and now trades at $0.19 or 0.00000243 BTC.
• PayProtocol Paycoin (PCI) traded 0.8% higher against the dollar and now trades at $0.0639 or 0.00000081 BTC.
• Akash Network (AKT) traded down 7.9% against the dollar and now trades at $0.37 or 0.00000472 BTC.

Theta Fuel Coin Profile

Theta Fuel (CRYPTO:TFUEL) uses the hashing algorithm. It launched on March 15th, 2019. Theta Fuel’s total supply is 7,213,861,664 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. 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 website is www.thetatoken.org.

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 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 Changelly, GDAX or Coinbase. 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