Decentralized finance options (DeFi) remain bullish on the crypto market. The biggest risers for the week (between June 1 and June 8) were TFuel (Theta) and SOL (Solana), with 59.42% and 25.25% growth rates, respectively.
It is worth explaining that this appreciation rate is compared to bitcoin; nevertheless, even relating to the dollar, the two currencies appreciated the most in the period.
1. Theta Fuel (Tfuel)
Theta Fuel’s Tfuel rose 59.42% in the week, and currently ranks 33rd in the CoinMarketCap ranking (the week before, 54th). The asset is one of two native tokens on the Theta blockchain, with a market capitalization above US$ 1.8 billion and a running supply of more than US$ 5.3 billion.
The token is used as a utility for decentralized delivery of video and data and as a gas (or fuel) currency of the Theta network. It means that it powers all blockchain operations on the network, such as payments to relays to share video streaming, deploy and interact with smart contracts, and as transaction-associated fees of NTFs and DeFi applications.
Viewers using the decentralized streaming network Theta are paid in TFuel tokens, either for watching programming or sharing streaming bandwidth. Thus, content creators can receive more for their broadcasts without intermediaries than they would on other platforms.
2. SOL (Solana)
Solana’s native token (SOL) has been highly valued in 2021. In early January, it was quoted at about US$ 2, but at this article’s writing, it was being traded just over US$ 39. In mid-May, its value reached more than US$ 55. This week, its valuation was 25.25%.
Solana’s highlights and appeal are lower transaction fees and the ability to process 50 thousand transactions per second. In addition, according to a Decrypt note, the company is raising an estimated US$ 300- US$ 450 million to become a specific environment for decentralized transactions, making it a potential rival to Ethereum.