Home ThetaFuel Theta Fuel Prices Soar By 15%

Theta Fuel Prices Soar By 15%

Theta Bockchain is a fascinating cryptocurrency project.

Theta Fuel Prices Soar Up By 15% iBase Trading.
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Theta Bockchain is a fascinating cryptocurrency project. It enables users to share their excess bandwidth and computing resources on a peer-to-peer (P2P) basis. This has piqued the interest of many investors in its tokens.

TFUEL has made massive gains, and despite a slight slowdown earlier this month, it appears to be on the mend. How do you know when it’s the right time to buy TFUEL? In this analysis, we look at what the token is and the problems that the blockchain network aims to solve.

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Theta

Theta is a blockchain-powered video delivery platform. It plans to use blockchain to revolutionize the video streaming industry. It is a blockchain-based, decentralized video delivery network that allows for free, high-bandwidth content delivery.

Centralized applications (DApps) can also be launched on Theta’s fully featured Ethereum Various Machine (EVM) compatible smart contract platform. Mitch Liu and Jieyi Long launched the network in 2017.

A portion of their computing power is used to relay those videos to other users, with primary users receiving tokens as a reward for watching videos.

Theta’s Two Native Tokens

Content creators who showcase their videos earn a passive income for their efforts as well. On its platform, Theta employs two native assets. Theta Token (THETA) is used for governance voting and Theta Fuel (TFUEL) is used for transaction execution.

Several institutions use THETA to support the Guardian nodes and Enterprise validators. Google, Binance, Blockchain Ventures, Gumi, and Samsung are among them. The Theta blockchain is powered by three types of nodes namely Edge nodes, Guardian nodes, and Enterprise Validators are among them.

Theta Fuel

The company creates TFUEL in 2019 to serve as the network’s utility token for decentralized video and data delivery. More importantly, users utilizes it for smart contract transactions as well as fees associated with the non-fungible token (NFT) and decentralized finance (DeFi) applications.

The Theta Blockchain employs a multi-level Byzantine Fault Tolerance (BFT) consensus mechanism in addition to the proof-of-stake (PoS) consensus algorithm.

The multi-level BFT enables it to provide high transaction volume and speed, it is important to realize that this is critical for streaming services and micropayments.

TFUEL began the year at $0.0374 per share but has since surpassed that price. In addition, the token has made significant gains, reaching an all-time high of $0.680 on June 9.

However, by the end of June, it had fallen to $0.427, and by July 20, it had fallen even lower to $0.230. TFUEL was trading at $0.3224 at the time of writing, and was up 15.81 percent in the previous 24 hours.

Investors may want to take advantage of this opportunity to purchase TFUEL because the token is performing well in the crypto market. According to the experts, TFUEL is in a bullish trend. The 20-day moving average (MA) support indicates a bull market, with the token above the indicator at $0.3224.

The coin’s long-term potential on the 200-day MA is $0.3209, indicating that the bulls are gradually seizing the stage. At 48.87 on the RSI and with the MACD advancing above the neutral zone (0.00). Therefore,  TFUEL’s bullish stance is further solidified by these technical indicators.

TFUEL expects to reach $0.553 next year and $1.12 in five years, according to analysts at Digital Coin. Wallet investor’s prediction site, on the other hand, is more bullish, predicting that TFUEL will reach $3.411 in five years.

Updates

Theta Labs, the company behind the Theta Network, has recently made headlines. After introducing the 2.0 upgrade about five months ago, the company recently rolled out Theta’s Mainnet 3.0 update.

According to the company, the new update includes TFUEL staking and Uptime mining. With this update, Theta’s edge nodes will begin burning at least 25% of each TFUEL payment made to the network transaction fees. Moreover, the company removes this from circulation to limit TFUEL inflation and add scarcity to the token.

Katy Perry, the pop star and songwriter, also announced the launch of a line of NFTs by Theta Labs. She added that this line of digital collectibles is part of her upcoming play residency at the end of the year.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Tanya Smith is an editor at iBaseTrading. With M.A. in Journalism and Mass Communication, she is pursuing her dream of creating a positive difference in the media industry. She also enjoys Fashion and Travelling.