36.92% of Theta Fuel’s circulating supply of 5,336,112,711 TFUEL is now staked on the Theta Network. This amount translates to roughly 1,970,092,812 TFUEL tokens being committed to the newly introduced staking mechanism
on Theta Mainnet 3.0.The Theta Network introduced the staking of TFUEL on June 30th during the aforementioned upgrade to Theta Mainnet 3.0.
To note is that staking on the Theta Network is not limited to TFUEL as THETA holders have committed a whopping 63.24% of the coin’s circulating supply to the process.
The screenshot below, courtesy of Theta Explorer, further highlights the preference by both TFUEL and THETA holders to stake their digital assets rather than trade or hold them in the traditional sense without rewards.
With respect to price action, Theta Fuel (TFUEL) is currently trading at $0.3565 which is a 47.57% pullback from its most recent all-time high of $0.68 set on June 9th.
A quick glance at the daily TFUEL/USDT chart below reveals that the token could be gearing up for a few bullish days at least towards the 50-day moving average (white) that is offering significant resistance at the $0.42 price level.
Additionally, the daily TFUEL/USDT chart further reveals the following: