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Cryptocurrency

Meet Theta Fuel, the cryptocurrency that catches world’s attention

TFUEL/USD was trading about $0.0026 on May 20th. Just 5 days later, it blew the chart by gaining a whopping 630% to about $0.019

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Cryptocurrencies, Meet the cryptocurrency catching the world’s attention, Theta Fuel gains 630% in 5 days., U.S regulator invites Banking and Crypto industry leaders for partnership, 3 Crypto Exchanges Control About 14.3%, Circulating BTC Supply. 

The surge of Theta Fuel (TFUEL), which is used to power little transactions and operations on its own type of blockchain designed for sharing video bandwidth, has taken the crypto world by storm.

According to the data obtained from Coinmarketcap, TFUEL was trading at about $0.0026 on May 20th. Just 5 days later, it blew the chart by gaining a whopping 630% at a peak $0.019 before it fell to $0.016229 at about 11 am Nigerian local time on Tuesday.

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TFUEL  is presently the 83rd most valuable cryptocurrency in the world with a market capitalization of about $66.4 million. 

(READ MORE: Investing in Cryptocurrencies during this economic shutdown; here’s your need to know)

What is Theta Fuel?  It is a cryptocurrency with its own type of blockchain. It can also be described as the operational token of the Theta protocol. Individuals use Theta Fuel to complete transactions like interacting with or deploying smart contracts.

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How to buy Theta Fuel? Theta fuel can be bought indirectly on most cryptocurrency exchanges like Binance and Coinbase. You will need to already possess an Ethereum or Bitcoin (BTC) to trade with.

READ ALSO: Nigerians can now trade Litecoin on Luno’s platform

The Theta blockchain project recently explained the completion of the Theta Mainnet 2.0 platform upgrade, saying that the network had improved massively. Theta’s statement read:

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“Community-run Guardian Nodes will now take a direct role in block production, finalizing blocks at regular 100 block intervals, and making up the second layer of defence after the Validator Nodes that produce each block.

“With Guardian Nodes joining the network and staking, no single group or entity will control the majority of THETA staked, marking a significant milestone toward Theta’s decentralization.”  

Meanwhile, America’s elite bank Goldman Sachs has indicated its interest in cryptocurrencies. On May 27th, it will be talking about Bitcoin to clients, teaching them all they need to know about the cryptocurrency.

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Sharmin Mossavar-Rahmani, Goldman Sachs’ head of Investment Strategy Group and chief investment officer for Wealth Management, will be the host; she is in charge of overseeing the bank’s asset allocation, overall strategic and tactical investment strategy.

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Olumide Adesina is a French-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading and analyzing Financial Markets. A member of the Chartered Financial Analyst Society. Financial Market; Yale University, Behavioral Finance; Duke University. You can follow Olumide on twitter @tokunboadesina or email [email protected]

2 Comments

2 Comments

  1. Anonymous

    May 27, 2020 at 10:29 am

    I love your write-ups. They are very educative. Please, keep it up.
    I would like to know more about cryptocurrencies.

  2. Laurence

    May 28, 2020 at 8:20 am

    This is a comprehensive article. As I just discovered a cryptocurrency, Pirate Chain, that it consideres itself one of the most private on the market, I want to know more about it. Can you please make an analysis?

    Kind regards,

    Laurence

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Cryptocurrency

ChainLink’s digital coin skyrockets 388% in 130 days, still soaring

LINK continues to see sky-high daily active addresses.

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LINK, an altcoin powered on Chainlink’s decentralized network, is smashing BTC and many other fast-growing digital coins, in terms of the rate at which it has been appreciating in dollar terms lately.

Data from a crypto analytic ranking firm, Coinmarketcap, shows the 12th most valued crypto asset is presently valued at over $2.2 billion dollars (1.2 times more valuable than Nigeria’s most valued bank) with a daily trading volume of over $595 million. It traded as low as $1.60 dollars to its present-day value of over $6.20, showing a percentage gain of more than 387.5% as the price keeps drifting up.

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Crypto behavior analytics platform, Santiment, in it feeds detailed that its on-chain volume, along with social volume and daily active addresses, is a “great triple thread to track.” These macros help track whether a given crypto asset is poised to continue its bullish momentum, and in LINK’s case, it shows that the momentum is still on.

About Chainlink

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Chainlink is a blockchain that is designed to bridge the space between blockchain technology-based smart contracts (created by ETH), and other user programs. Since blockchains by principle can’t have access to data outside their paths or networks, a defi instrument is needed to facilitate data feeds in smart contracts, and Chainlink helps to solve such needs.

Among the leading 20 cryptocurrencies by market capitalization, it is viewed as the only top-20 token with a broad, adaptable business application that is easily explained to an average person. Chainlink is the first successful Blockchain application to interact with the outside world.

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Cryptocurrency

Tether mints 80,000,000 USDT to unknown wallets within 24 hours

Tether Treasury minted a whopping 80 million USDT in less than 24 hours.

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Tether expected to surpass Ethereum, based on strength of the U.S dollar, ther mints 80,000,000 USDT to unknown wallets within 24 hours

Tether, the world’s most valuable stable coin by market capitalization, has been gaining a lot of traction lately. The latest development is that Tether treasury minted a whopping 80 million USDT to unknown wallets in less than 24 hours, as seen on Whale Alert, an advanced blockchain tracker and analytics system.

Tether is ranked the 3rd largest cryptocurrency by market cap of $9.2 billion, with a daily volume of $22.8 billion as at the time this report was drafted.

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READ MORE: U.S regulator invites Banking and Crypto industry leaders for partnership

Quick fact: Tether is designed as a blockchain-based cryptocurrency whose digital coins in circulation are backed by the same value of traditional fiat currencies like the U.S dollar, Japanese Yen, or the Euro. It trades under the ticker symbol USDT.

Barely weeks ago, Bloomberg reports stated that the momentum with the help of the U.S dollar was expected to make Tether gain and move to the second spot.

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READ MORE: Fastest growing cryptocurrency, Compound (COMP) up over 143% in 24 hours

“Absent an unlikely reversal in predominant crypto trends, it should be a matter of time until Tether passes Ethereum to take the No. 2 spot in total assets behind Bitcoin. Receiving help from widespread adoption with a workable case as a proxy for the world’s reserve currency, there seems little to stop the increasing adoption of the dollar-linked stable coin,” the report stated.

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Cryptocurrency

Ripple payment now operational in U.S, 22 geopolitical regions

Ripple (XRP) plays dual roles as a payment platform and a currency.

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The infusion of Ripple by global banks has gained traction lately, as Spanish biggest bank by total asset and market capitalization, Santander, designed a Ripple enabled payment app called Pay FX that offers a borderless blockchain-based payment channel.

Santander recently just added 19 geopolitical regions to its One Pay FX international payments app offering in collaboration with blockchain and crypto payment powerhouse Ripple.

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Before now, the blockchain payment app was available only in Poland, Spain, Brazil, and the United Kingdom; One Pay FX now enables users from the world’s biggest economy, United States, and emerging markets that include Chile to sit among others on the list of added countries, totaling the number of countries on its offering to 22.

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Quick fact: Ripple (XRP) plays dual roles as a payment platform and a currency. It has an open-source platform that is created to allow quick and cheap transactions.

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Unlike its crypto rival, Bitcoin, which was never intended to be a simple payment system, Ripple has gained the attention of major global banks, like Standard Chartered, and Barclays for international transactions worldwide.

Customers told us that the international payments process could be better so we partnered with Ripple to explore how BTC could make transactions faster, cheaper and more transparent,” Ed Metzger, CTO of One Pay FX said in the statement.

READ ALSO: Uber expands food delivery business in a $2.65 billion acquisition 

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Metzger described feedback from customers, noting difficulties with transaction exchange rate clarity and timing confusion.

“Ripple helps us directly address the issues raised by our customers […] Whether they are putting down a deposit on a holiday rental or paying a foreign supplier, they see exactly how much will arrive when they’re making the payment and have certainty about when it will get there.”

What this means ; The Ripple enabled app will allows customers to see exactly how much will arrive when they’re making international payments, while the low-cost transactions happen instantly or on the same day, instead of the traditional 3-5 timeframe.

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