Theta Fuel Reaches 24 Hour Volume of $1.44 Million (TFUEL)

Theta Fuel (TFUEL) traded 1.6% higher against the US dollar during the 1 day period ending at 9:00 AM ET on July 7th. One Theta Fuel coin can now be bought for $0.0079 or 0.00000013 BTC on exchanges. In the last seven days, Theta Fuel has traded 6.1% higher against the US dollar. Theta Fuel has a total market cap of $58.52 million and $1.44 million worth of Theta Fuel was traded on exchanges in the last 24 hours.

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

• Cronos (CRO) traded down 0.9% against the dollar and now trades at $0.0576 or 0.00000091 BTC.
• Hedera (HBAR) traded 1.6% lower against the dollar and now trades at $0.0714 or 0.00000113 BTC.
• Avalanche (AVAX) traded up 0.6% against the dollar and now trades at $6.77 or 0.00010717 BTC.
• NEAR Protocol (NEAR) traded 2.2% higher against the dollar and now trades at $2.01 or 0.00003176 BTC.
• Internet Computer (ICP) traded up 3.9% against the dollar and now trades at $2.22 or 0.00003514 BTC.
• Cosmos (ATOM) traded 1.6% higher against the dollar and now trades at $1.59 or 0.00002511 BTC.
• Algorand (ALGO) traded down 0.1% against the dollar and now trades at $0.0867 or 0.00000137 BTC.
• Fetch.ai (FET) traded down 0.6% against the dollar and now trades at $0.17 or 0.00000263 BTC.
• Akash Network (AKT) traded 0.6% lower against the dollar and now trades at $0.62 or 0.00000984 BTC.
• PayProtocol Paycoin (PCI) traded 1.1% lower against the dollar and now trades at $0.0374 or 0.00000059 BTC.

About Theta Fuel

Theta Fuel uses the hashing algorithm. Its genesis date was March 15th, 2019. Theta Fuel’s total supply is 7,390,478,775 coins. 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. 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.

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