Update: December 3, 2021 – Theta Fuel Remains one of the cryptocurrencies with high potential. TFUEL price at the moment is at $0.31 and it is expected to increase in the future.
Most industries today are centralized, meaning that there is one single authority for each company or corporation. Even though being centralized provides a more regulated space for each individual, there are some major drawbacks that come with it. One example of this would be the video streaming industry – an industry that is expected to be worth $223.98 billion by 2028. This industry, which is led by companies such as Netflix and Hulu, has one major problem and that is its inability to provide high-speed streaming for everybody. Because these traditional centralized methods proved insufficient in providing some of their users a smooth experience while streaming their favorite TV Show, inventors became more interested in finding a solution. An entrepreneur named Mitch Liu tried to apply a solution that involved blockchain; aiming to do so by using the Theta Network that involves two native tokens:
- Theta (THETA) – strictly used for securing the network through staking.
- Theta Fuel (TFUEL) – mainly used to power operations such as microtransactions on the network.
In this article, we will do our best to explain what Theta Fuel is. Moreover, we will throw some light on the future of Theta Fuel, discussing price predictions and future implementation of the project in the current video-streaming industry.
What is Theta Fuel (TFUEL)?
To begin with, let us talk about the basics and history of Theta Fuel. This coin was founded in 2017, meaning that it is a very young cryptocurrency when we compare it to many other cryptocurrencies. Its founding company, Theta Labs, was founded by Mitch Liu This company is making an attempt in providing a solution for the video-streaming industry by introducing it with the wonders of blockchain technology. Theta Fuel runs on the Theta Network, a blockchain video-delivering network that is basically a decentralized content delivery network. As mentioned before, Theta Fuel is one of the two native tokens of the Theta network and mainly serves for powering microtransactions and other operations on this network. Because more than 80% of all internet traffic is done on videos and streams, companies are struggling to keep functioning the way that they are supposed to, often leaving their users with a negative user experience. Through blockchain technology, Theta and Theta Fuel hope to be the solution to this problem. This is done by a network of nodes, which are used to relay video content to viewers – lowering the cost for video content distributors and increasing the speed of streaming. Theta uses three main types of nodes to secure and operate its network:
- Validator Nodes – validates the information
- Guardian Nodes – double-check the blocks created by Validator Nodes
- Edge Nodes – power the first fully decentralized P2P video content delivery network.
At the time of writing, there are only 14 Validator Nodes, all of which are run by Theta Labs. This makes the network seem like a centralized one; however, the company aims to offset some of this centralization by using Guardian Nodes, having nearly 4200 nodes of this kind spread across the globe. Its team aims to release Theta Mainnet 3.0 by the end of June, marking another big step taken. The main goal for this update is to increase the number of their edge nodes drastically, making the network more decentralized.
What is Theta Fuel (TFUEL) Used For?
Theta Fuel is one of the two native tokens of the Theta Network and should not be mistaken for Theta (THETA) which is a governance token. Theta Fuel token is the second native token released on the Theta blockchain and it is used as a utility token, powering all microtransactions and other operations in decentralized video delivery. Because it is built based on the Ethereum blockchain, Theta network is smart-contract compatible, supporting Non-fungible tokens as well. The Theta Fuel token has been used as a reward to motivate nodes into participating on the Theta network. Additionally, Theta Network viewers are also rewarded small amounts of Theta Fuel just for watching streams on it. The Theta 3.0 update will be focused on the tokenomics of Theta Fuel, adding the option of staking the coin. If that wasn’t enough, 3.0 will mark the beginning of a burning process for 25% of all transaction fees made on Theta’s edgecast network. Since Theta Fuel is used to pay for these types of fees, this will potentially have an impact on its price.
Theta Fuel (TFUEL) Price Analysis
Many cryptocurrencies, regardless of their utility or the team behind them, have seen massive gains throughout the last months. The same can be said for Theta Fuel, a coin which saw an increase of 947% on its price from the beginning of 2021. According to CoinMarketCap, Theta Fuel joined the market with a price of $0.016 and, in a matter of months, it saw its price drop to $0.007. It dwelled around those prices for about two years, seeing some relatively small increases and decreases every now and then. This all changed with the beginning of the last bull run, during which the coin skyrocketed to the price of $0.48, setting a new all-time high around 2900% higher than its previous one. During the last weeks, the cryptocurrency market has been on a downtrend as a whole, however, the same cannot be said for Theta Fuel. At the time of writing, the coin has a price of $0.34, seeing a 10% increase in just a day and a weekly increase of 23%. The uptrend that the coin is pursuing may continue throughout the following weeks, playing a big role on its price.
Rank: 123
Google Partnering With Theta Labs
From the beginning of its journey on the cryptocurrency market, Theta Labs is trying to reach partnerships with big companies, allowing it to grow and implement its decentralized technology more and more. One of these partnerships that we must highlight is the partnership between Theta Labs and Google Cloud. This partnership was announced upon the release of Theta Mainnet 2.0 in May 2020, stating that Google Cloud will be their Launch Partner, as well as a part of their Enterprise Validator Node group – being the fifth of this kind at that time. This meant that Google Cloud would provide Theta Labs with their infrastructure to support the rapid growth of Theta. Through this reliable, scalable, and secure infrastructure, Theta aims to reach more users than ever before, something that was not possible before because of issues with high latency and user experience. With the support of 1600 very powerful nodes owned by Google Cloud, Theta has significantly increased its reach.
Another important factor worth mentioning in regards to this partnership is the fact that Google owns Youtube, which is currently one of the biggest video-streaming platforms on the globe. This gives Theta way more space to experiment and try to find new solutions to overcome the existing issues in the video-streaming industry as a whole.
Although Theta was always considered a very serious project, many people were pessimistic about its future – mainly because of the blockchain technology that it uses. However, this technology is what makes Theta Labs unique; and the partnership with such a huge global company like Google confirms it. Partnerships like these increase the credibility and efficiency of Theta Labs, which indirectly initiate uptrends on its two native tokens: THETA and TFUEL. This was seen mid-May 2020 when Theta Fuel experienced an increase of 800% in a matter of weeks; an increase that was potentially caused by the announcement of the above-mentioned partnership.
Theta Fuel (TFUEL) 2021 Price Prediction
As we are getting into the second half of 2021, the cryptocurrency market is seeing more and more price changes – some of them being positive while some others being negative. Only during the last 24 hours, there are coins that have experienced their price increase by 46% while there are others that have seen their prices drop by 55%. Because the last market correction hit hard, the cryptocurrency market is taking its time to recover and get back on its feet. As for Theta Fuel, the coin’s price has risen tremendously throughout 2021. The coin entered this year with a price of $0.033 and, by the end of March, it hit a new all-time high of $0.48. However, its price was down to $0.26 by April, recovering and hitting a price of $0.40 shortly after. Theta Fuel saw another dip in its price mid-March, hitting a price of $0.22; nevertheless, it has been recovering ever since, continuing to keep its uptrend.
Since we have a long way to go before this year ends, there are many possibilities regarding the Theta Fuel coin. According to DigitalCoinPrice forecast, Theta Fuel may be able to hit the price of $0.51 by the end of the year, nearly doubling its current price and breaking its current all-time high. Another prediction was done by Coin Bureau, a cryptocurrency YouTuber, showing that Theta may continue this year dwelling around the price that it holds now, without experiencing many ups or downs. This is also shown by WalletInvestor, hinting that Theta Fuel might nearly double its price before 2022, closing this year with a price of $0.63. On the contrary, GovCapital predicts that Theta Fuel will leave this year with a price of $0.46, only 6 cents above the current all-time high. As for us at CryptoAcademy, we are keen that the price of the coin may continue to increase throughout this year, potentially reaching a price between $10.50 and $25.00 by the end of 2021. Even though our forecast may seem very optimistic to many, because Theta Network is still a project in its early stages, it is believed by many experts that a price increase like that may be possible. All in all, most experts and websites predict that it is unlikely for Theta Fuel to close the year 2021 below $0.40.
Theta Fuel (TFUEL) 2022 Price Prediction
Theta Fuel serves a crucial role in the Theta Ecosystem, making it a coin with a potentially positive future. Being only 4 years old, Theta Fuel has still a long way to go to achieve its full potential. According to DigitalCoinPrice, Theta Fuel may enter the year 2022 with a price of $0.51 and reach a price of $0.60 by the end of the year, experiencing a 17.6% increase in price throughout the whole year.
A more optimistic forecast is one done by WalletInvestor, stating that the coin might hit the price of $0.849 one year from now, leaving the year 2022 just below the $2 mark.
Theta Fuel (TFUEL) 2023, 2024, 2025, and 2030 Price Prediction
Throughout the years, cryptocurrencies have started to be implemented and used in the real world. If this trend continues, cryptocurrencies will see huge price increases because of the money that will get into them. When it comes to Theta Fuel, there is another big advantage when it comes to its future and that is the utility of its network. Theta Network aims to serve as a Blockchain Video-Delivering Network, providing a decentralized platform for videos and streams. This means that Theta will be providing a solution to the problems of the Video Streaming industry and, as mentioned before, this industry may supposedly be worth $233 billion by 2028. Aiming to take over such a big industry, the future of Theta Fuel might be one of the brightest for a cryptocurrency to ever experience.
For the year 2023, DigitalCoinPrice predicts stable growth for Theta Fuel, hinting that the coin might reach the price of $0.72 mid-year and $0.79 by the end of the year. This growth may continue throughout 2024 as well, with a yearly high of $0.85. According to DigitalCoinPrice, 2025 may be the year during which Theta Fuel will break records, hitting the price of $1.05 by the end of the year. According to their forecasts, the year 2026 and 2027 will be more stable with price changes of only 10-15% monthly and 1-2% yearly. This might all change by 2028, during which year the coin is predicted to skyrocket to the price of $1.57, experiencing an increase of 361% on its price. We at CryptoAcademy believe that the coin might continue its rapid growth until the end of the decade, potentially entering the year 2030 with a price of $35.00 per coin.
Theta Fuel Price Prediction 2021-2028.
Can TFUEL Reach $1?
A question that is often asked when we talk about cryptocurrencies under the price of $1 is whether that particular coin has the potential to reach the price of $1 and, if it has the potential, when is it thought to do so. To estimate if a coin will ever hit a specific price, we should firstly look at its supply and current market capitalization. At the time of writing, the price of a Theta Fuel is sitting at $0.34 with a market cap of $1.8 billion and a supply of 5.8 billion. In order for Theta Fuel to achieve its goal of hitting $1, $3.2 billion dollars should be added to the market cap of TFUEL; therefore, the market should have x3 more money on it than it currently has.
According to WalletInvestor, Theta Fuel may reach $1 in less than two years and a price of $3 in a span of five years. The same is hinted by GovCapital, whose forecast predicts that Theta Fuel might reach the price of $1 by March 2023, earlier than most people and experts expected. On the other hand, predictions done by DigitalCoinPrice show that Theta Fuel might have to wait until February 2025 to reach this price. All in all, most predictions claim that the coin is likely to hit $1 in the upcomingf 2-4 years.
How Much Will Theta Fuel Be Worth?
The cryptocurrency market is believed to reach unimaginable heights by the end of the decade. There are financial experts that predict an $8 trillion market capitalization of the whole cryptocurrency market by the year 2030, a market cap four times larger than it is today. According to these predictions, the future of the cryptocurrency market might be very stable, but we can never know for sure.
There are many cryptocurrencies that are technically useless when compared to some other coins; therefore, whatever happens on the market may have a bigger impact on credible coins like TFUEL rather than on coins whose survival depends solely on the attention that they are getting from the media. The price of Theta Fuel has been gradually increasing from the day the coin joined the market. Theta Mainnet 3.0 aims to make big changes to the tokenomics of Theta Fuel, potentially changing the coin from an inflationary coin to a deflationary one. At the moment of writing, Theta Fuel is inflationary to the tune of 5% per year. Becoming a deflationary coin may prove very beneficial for the coin’s price throughout the years.
According to GovCapital, Theta Fuel may continue to grow in price, reaching $3 by the year 2026.
How Do I Get Theta Fuel?
Theta Network uses Proof-of-Stake (PoS) in order to validate transactions and operations on its network, therefore, mining Theta native tokens is not possible. The simplest and fastest way you can get your hands on some TFUEL tokens is by buying them on cryptocurrency exchanges. At the time of writing, one TFUEL token trades for $0.34. Some major crypto exchanges that have listed Theta Fuel are Binance, Gate.io, BitMart, Bithumb, and Upbit. Buying Theta Fuel through exchanges is done through 3 steps:
- Deposit your fiat money on a crypto exchange of your choice
- Convert the deposited amount to a stable coin in order to have an easier time trading
- Locate a market pair between the stable coin that you chose and TFUEL (e.x. USDT/TFUEL, USDC/TFUEL, BUSD/TFUEL)
- Choose the buy option and enter the preferred amount of TFUEL you want to buy
Another way to obtain TFUEL is by using the Theta TV platform, where viewers get rewarded in small amounts of Theta Fuel by just using the platform. Through Theta Mainnet 3.0, Theta Labs aims to allow Theta Fuel holders to stake their TFUEL tokens in exchange for rewards paid in TFUEL This means that you get rewarded for supporting their network in whatever way possible.
Is Theta Fuel a Good Investment 2021?
As mentioned before, the cryptocurrency market is still a project in its early phases. However, this project is of huge potential because it aims to decentralize nearly everything. Since just a decade has passed since the introduction of blockchain technology to the world, its true potential is yet to be seen. Theta Labs aims to revolutionize the video streaming industry by making it decentralized, solving the current problems like the high streaming and maintaining cost. If you are looking to invest in Theta Fuel, you should consider some things first. To begin with, Theta Fuel has a supply of 5.8 billion, making it a cryptocurrency with a relatively low supply; directly affecting its price. Another thing you should consider is the token’s utility. Because Theta Fuel is a crucial token of the Theta Network, its growth may depend on the implementation of the solution that Theta Network provides to the video streaming industry. Last but not least, you should check what the team behind the coin is doing to improve its utility. As for Theta Fuel, the new Theta Mainnet 3.0 is a major step taken by the team, improving the token fundamentally. According to many predictions, Theta Fuel may see huge increases in price, proving as a good investment for many.
Is Theta Wallet Safe?
Just like many cryptocurrencies, Theta Fuel also has its own official wallet in which investors can store their Theta Fuel tokens. The official Theta Fuel wallet is technically an app that lets you store Theta Fuel tokens, making it a cold wallet – a way safer type of wallet. However, the wallet will serve as a cold one only if you use it while on airplane mode; and that is what the team behind Theta recommends you to do. At the time of writing, the official Theta Fuel wallet is the only one recommended by the Theta Labs team. There are four simple steps in order to open up your Theta Fuel wallet:
- Download the Theta wallet on the app store
- Put your phone on airplane mode
- Open the app and press “Create wallet”
- Write your seed phrase on a notebook or a paper in order to not get locked out of your wallet
Takeaways
- Theta Fuel is mainly used for powering microtransactions and operations on the Theta Network.
- Theta Network uses Validator Nodes, Guardian Nodes, and Edge Nodes; the last one being run by Theta Fuel tokens.
- Theta Network is smart-contract compatible.
- Theta Fuel has a supply of 5.8 billion and a market capitalization of $1.8 billion, giving it a current price of $0.34.
- Many experts and websites hint that Theta Fuel may see a huge increase in price, potentially hitting $3 in the next five years.
- Some major crypto price predicting websites forecast that Theta Fuel may reach $1 by the end of next year.
- You can either buy Theta Fuel tokens or obtain them by using its Theta TV platform to stream videos.
- The team behind Theta Fuel recommends only using its official Theta Fuel wallet.
- In general, experts state that now may be a great time to invest in Theta Fuel.