Theta fuel price prediction: What is theta fuel (TFUEL)?
By Peter Henn
13:03, 8 December 2022
Theta fuel (TFUEL) is designed to help people to use the blockchain to create better streaming services. Let’s take a deep dive into theta fuel, and also take a look at some of the theta fuel price predictions that were being made as of 8 December 2022, too.
One of the biggest technological stories in the past 10 to 15 years has been the growth of online streaming services. From Netflix to platforms linked to established broadcasters like BBC iPlayer, or user-generated content providers such as YouTube, millions of people across the world use streamed services for their fix of entertainment.
When the Covid-19 pandemic hit and the world was gripped by lockdowns, then live streams of music concerts and sporting events became a way for people to get some distraction from the gloom and monotony of being stuck indoors. There was one problem. Some streams suffered from a lack of quality. If you were to pay money for a stream, only to find the picture quality to be poor and for it to be interrupted by incessant buffering, you would, understandably, be annoyed and upset.
However, some potential help was at hand, thanks to another one of the past decade or so’s biggest technological success stories – cryptocurrency and the blockchain. That help came in the form of the Theta Network.
The idea behind the Theta Network is to create a worldwide group of users who offer their spare bandwidth and other resources to help stream videos. In theory, this means that there will be more bandwidth available, which in turn means that streams are higher quality and less likely to experience buffering.
The Theta Network is based on the Theta blockchain, which was built to support the system that shares its name. Every blockchain and blockchain-based platform needs their own native token, and, depending on how you look at things, Theta has three. The theta coin (THETA) is used for governance purposes, while theta fuel, also known by its ticker handle of TFUEL is used to reward the people who operate the computers, or nodes, that help the network operate properly. Meanwhile, there is another token, called TDROP, which is used to reward activity on the system’s non-fungible token (NFT) marketplace.
While the theta coin and theta fuel both exist on the Theta blockchain, it is TFUEL that is the coin, with theta coin really, and somewhat confusingly, a token, much like TDROP.
The Theta Network came out in 2017 and was founded by crypto entrepreneurs Mitch Liu and Jieyi Long, and TFUEL came on to the open market in early 2019.
Theta fuel price history
TFUEL price history from launch to present - Credit: Capital.comWhile past performance should never be taken as an indicator of future results, knowing the TFUEL price history can help give important context when it comes to either interpreting a theta fuel price prediction that is already out there or making one of our own.
When TFUEL first came onto the open market in March 2019, it was worth about $0.017. In truth, the market was then experiencing a so-called crypto winter after the bursting of the bubble that characterised late 2017 and early 2018 and the coin did not do terribly much for the first two years or so of its existence. This all changed in early 2021, when the crypto market experienced a boom, and TFUEL followed a growing market, hitting highs of more than $0.48 in late March that year. There were more ups and downs but, when the market collapsed in late May, many may have thought TFUEL would have suffered. Instead, though, the coin defied the market and reached an all-time high of $0.6807 on 9 June 2021, a time when, for many coins and tokens, the market was in the doldrums. After that, though, the coin slid down somewhat and it closed the year at $0.1917.
If 2021 was a good year for crypto, 2022 has been a pretty bad one so far, and TFUEL has not been an exception to the rule. Early on, it fell to a low of $0.1148 on 24 January before recovering to a high of $0.2334 on 16 February. On 24 February, Russia’s invasion of Ukraine saw it drop to $0.1374. March was something of a recovery, with the token peaking at $0.2425 on the last day of the month. With the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency, TFUEL collapsed to $0.05228 on 12 May. The following month, the news that the Celsius Network (CEL) crypto lending platform had cancelled withdrawals saw it fall to $0.03932 on 15 June. Although there was an uplift to $0.08223 on 12 August, November’s collapse of the FTX (FTT) exchange meant TFUEL hit a low of $0.03957 on 14 November. Since then, there has been a rather minor recovery and, on 8 December 2022, the token was worth about $0.0435. At that time, there were five billion TFUEL in circulation out of a total supply of 5.3 billion. This gave the coin a market cap of around $229.7m, making it the 114th largest crypto by that measurement.
Theta fuel price prediction round-up
Let’s now take a look at some of the theta fuel price predictions that were being made as of 8 December 2022. Price forecasts, especially when it comes to something as potentially volatile as cryptocurrency, very often turn out to be wrong, however, and many long-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice.
CoinCodex had a somewhat mixed short-term TFUEL price prediction. The site said that the coin could fall to $0.035653 by 13 December before making a recovery to trade at $0.044988 by 7 January next year. Despite the optimistic outlook for early 2023, the site’s technical analysis was bearish, with 25 indicators making downbeat signals against just three making bullish ones.
PricePrediction.net made a theta fuel coin price prediction that said the crypto could be worth $0.045 this year before potentially trading at $0.062 next year and $0.089 the year after that. By 2025, the site said, TFUEL could well have broken through the 10 cent barrier to trade at $0.14 before getting to $0.19 in 2026, $0.28 in 2027 and $0.44 in 2028 before potentially closing the decade at $0.64. The site then went on to make a theta fuel price prediction for 2030 that saw that crypto potentially reach around $0.92 before arguing it could climb past the dollar the following year to trade at $1.32.
CryptoPredictions.com had a theta fuel crypto price prediction that claimed the token could reach about $0.069 by the end of the year before potentially closing 2023 down to $0.05175 and recovering to a little over $0.08 by the end of 2024. The site then made a theta fuel price prediction for 2025 that said the coin could start the year at $0.08208 before climbing to $0.097277 in December that year, with the site suggesting it could be down slightly to $0.09565 by the end of 2026.
Finally, WalletInvestor had a more downbeat and bearish theta fuel price prediction for 2023, suggesting the coin had a tough 12 months ahead. The site argued that the price of TFUEL could collapse to just $0.00167 by 8 December 2023.
When considering a TFUEL coin price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency coins and tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.
FAQs
Is theta fuel a good investment?
It is hard to say. A lot will depend on how the market performs as a whole.
Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies can be affected by bear markets. So investors should be prepared to make losses and never purchase more than they can afford to lose.
Will theta fuel go up or down?
No one can really tell right now. While the likes of PricePrediction.net are very upbeat when it comes to making a theta fuel price forecast, sites such as WalletInvestor are far more downbeat in terms of their assessment of a future TFUEL price. Remember, though, that price predictions can very often be wrong and that prices can, and do, go down as well as up.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether TFUEL is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in theta fuel?
Before you decide whether or not to invest in theta fuel, you will have to do your own research, not only on TFUEL but also on other streaming-related cryptos.
Ultimately, though, this is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.
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