Theta Fuel (TFUEL) 24 Hour Volume Hits $486.06 Thousand

Theta Fuel (TFUEL) traded 0.3% lower against the U.S. dollar during the twenty-four hour period ending at 8:00 AM Eastern on August 16th. Theta Fuel has a market capitalization of $53.58 million and approximately $486.06 thousand worth of Theta Fuel was traded on exchanges in the last 24 hours. One Theta Fuel coin can currently be bought for approximately $0.0072 or 0.00000011 BTC on exchanges. Over the last seven days, Theta Fuel has traded down 3.2% against the U.S. dollar.

Here’s how other cryptocurrencies have performed over the last 24 hours:

• Cronos (CRO) traded 1.2% lower against the dollar and now trades at $0.0476 or 0.00000076 BTC.
• Hedera (HBAR) traded down 1.1% against the dollar and now trades at $0.0650 or 0.00000103 BTC.
• Avalanche (AVAX) traded down 3.3% against the dollar and now trades at $6.35 or 0.00010091 BTC.
• NEAR Protocol (NEAR) traded down 0.6% against the dollar and now trades at $1.63 or 0.00002582 BTC.
• Internet Computer (ICP) traded up 0.8% against the dollar and now trades at $2.28 or 0.00003614 BTC.
• Cosmos (ATOM) traded up 1.3% against the dollar and now trades at $1.49 or 0.00002371 BTC.
• Algorand (ALGO) traded 1% lower against the dollar and now trades at $0.0790 or 0.00000125 BTC.
• Fetch.ai (FET) traded 6% lower against the dollar and now trades at $0.12 or 0.00000197 BTC.
• Akash Network (AKT) traded down 1% against the dollar and now trades at $0.52 or 0.00000832 BTC.
• PayProtocol Paycoin (PCI) traded down 0.4% against the dollar and now trades at $0.0355 or 0.00000056 BTC.

About Theta Fuel

Theta Fuel (TFUEL) uses the hashing algorithm. Its launch date was March 15th, 2019. Theta Fuel’s total supply is 7,434,843,178 coins. Theta Fuel’s official Twitter account is @theta_network and its Facebook page is accessible here. Theta Fuel’s official website is www.thetatoken.org. 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.

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 trade Theta Fuel should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Theta Fuel using one of the exchanges listed above.

TFUEL/USD price chart by TradingView