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Tag: FIL

  • More Winners than Losers (YFI, ROSE, FIL, RVN, ETC) 

    More Winners than Losers (YFI, ROSE, FIL, RVN, ETC) 

    The market has shown relative stability over the past week. This has also affected the movement of altcoins. The rise of the dollar also indicates a curb on inflation which entails less saving which means less investment. So, any form of stability, for the time being, can be beneficial. But as ever, the market is volatile and coins are in constant fluctuation, here we present the weekly gainers and losers of the crypto-market:

    Weekly Gainers

    YFI

    The innovative step made by Andre Cronje, the protocol in mention is an aggregator service for decentralized finance (DeFi) investors. It uses the investment technique of yield farming that allows for more investment. Over the past week, YFI has seen a growth of 65.84% with its current price at around $10,957.65 at the time of writing. At the time of writing, 36,638 YFI are in circulation but this number is expected to grow with more investors.

    ROSE

    A close second to YFI is Oasis Network, which has made a weekly gain of 65.40% over the previous week. It could have been the largest gainer of the week had it not been the 9.60% fall over the past twenty-four hours. Currently, its value is $0.07848. Oasis has a contract with Ethereum, Solana, Binance, and Avalanche. It is attempting to lay the foundation for Web3.

    FIL

    At the time of writing, the current price of Filecoin is $8.07 with a twenty-four trading volume of $1,220,448,763. Over the previous week, it made a profit of 53.33% over the previous week. But over the past twenty-four hours, it has also witnessed a 20.25% drop in its value. Filecoin is a blockchain-based storage protocol and allows people ownership over their own data.

    RVN

    This is the 99th-ranked cryptocurrency that aims to implement a use case-specific blockchain that is to transfer assets. The name of the protocol is a reference to the extremely popular tv series, Game of Thrones where a Raven is used to transfer information. Ravencoin has made a weekly gain of 44.83% over the previous week with its current price at $0.03542.

    ETC

    Ethereum has a hard fork of Ethereum (ETH). It was launched in July 2016. But the fork of Ethereum is significantly different from the Queen. Both of their development strategies are in different directions. This shows why the current value of ETC is only $33.75. But over the last week, ETC has been able to make gains of about 43.56%.

    Weekly Losers

    With the rise of the price of Bitcoin, there haven’t been many losers over the past week. Still, some cryptocurrencies still have had a paltry decrease. The following are the weekly losers:

    RVLT

    Built on the Polygon chain, RVLT is the ecosystem token of CULT DAO. Cult wants to funds protocols and for its support, it has Revolt 2 Earn. At the time of writing, its value is $0.000000233. But it is a big loser of the week as it has lost 41.32% of its value of the previous week.

    KOK

    Blockchain needs to be enmeshed with good business services for the future if it wants to achieve accreditation and acceptance from the general populace. KOK wants to do that.  But it has currently unsuccessful in achieving this. Over the past twenty-four hours, it has sustained a loss of about 30.91%. At the time of writing, it is valued at $0.3231.

    Grid

    Built on the Ethereum blockchain, GridPlus develops cutting-edge secure hardware for cryptocurrency and other digital assets. Since it is pinged to a physical item such as hardware, its movement is straighter. It is valued at $0.3304 and over the past twenty-four hours, it has seen a loss of about 26.97%.

    DGD

    Currently valued at $128.81, DGD is seeing a loss of about 22.88% over the previous week and 41.80% of its value has just decreased over the last twenty-four hours. Just like GRID, DigixDAO tokenizes physical objects. With the increase in worldwide inflation, the price of DigixDAO is sure to decrease.

    MV

    Elemental Knights is an MMO game that has been running for a period of 14 years. GensoKishi is the metaverse version of the game. But the status of its token is in dire straits. Over the last week, MV, the native token of the GensoKishi metaverse, has sustained a loss of about 21.98%, taking its value to $0.316 per token.

  • Filecoin (FIL) – What is the Chart Showing Us

    Filecoin (FIL) is currently trading at a price of $23.46 after increasing by 8.33 percent in the previous 24 hours. On April 1st, 2021, FIL reached an all-time high of $238.20. Following that, the market reversed course and plummeted to about $39. The price subsequently displayed another reversal, but it wasn’t powerful enough, and the price continued to bleed.

    Technical Analysis – Filecoin (FIL)

    Price previously reacted in the drop base drop zone. This is an example of a supply and demand pattern. Historically, the price has shown a reaction from this zone. Because of the large number of orders at this position, and hence the generation of liquidity, the market is likely to revisit this zone.

    Now FIL was in a bearish trend for a while. We saw a continuous decrease in the price of the coin. Soon the price started to show reversal but still, the bullish structure has not come into play. The price of the coin is moving towards a daily order block from where the price can show some reaction. Lower time frame confirmations should be taken into consideration to look for a possible breakthrough or a reversal.

    About Filecoin (FIL)

    Filecoin is presently ranked 41st on coinmarketcap in terms of market domination (0.19 percent) and market capitalization. The project was initially conceived in 2014, and it intends to create a storage system that would “hold humanity’s most vital knowledge.” Whereas firms like Amazon and Google rely on centralized systems, Filecoin intends to provide decentralization to the system, allowing for greater data protection. During its initial coin offering (ICO) in 2017, the project raised moreover $205 million (Initial Coin Offering). This demonstrates how much interest investors have in the idea and how wonderful they believe it is. It is founded on Proof of SpaceTime as well as Proof of Replication.

    Price Prediction – Filecoin

    Traders think that FIL is a terrific investment that will bring excellent profits. Wallet investor, on the other hand, believes FIL is a horrible investment. However, they predict that in a year’s time, the price would rise to $23.05. The price is predicted to reach $25.796 in five years. FIL is not a good investment, according to this evaluation. However, traders believe it has a lot of potential because it is still a long way from its all-time high.

  • What is Filecoin (FIL) – How does it work?

    New paths for technology and innovation have opened up with the introduction of blockchain technology. The storing of files over the internet is one of these innovations. Nobody, on the other hand, would want to store someone else’s files out of the goodness of their hearts. So Filecoin (FIL), a peer-to-peer network that stores files on the internet with built-in economic incentives to ensure files are stored stably over time, enters the picture.

    Because the entire method is carried out via blockchain technology, the available storage and pricing are not controlled by any single organization or entity but are open to anybody.

    Users of Filecoin (FIL) pay to have their data stored on storage miners. These miners are computers that are in charge of keeping files and demonstrating that they have been saved correctly over time. Through Filecoin, anyone can have their data stored, and others can be compensated for doing so. The protocol’s native coin is FIL, which is obtained by storing the coin by storage miners.

    All of this is accomplished by Web3’s system being built on the web3.

    Filecoin (FIL) is based on a peer-to-peer network in which peers communicate over secure channels to broadcast information to the network and move data amongst themselves. The clients, also known as nodes, are responsible for verifying the Filecoin blockchain and validating the messages in each block. Filecoin wallets can be managed and FIL received by nodes. Nodes can also make storage (agreements between clients and storage miners to store data) and retrieval (agreements between clients and retrieval miners to extract data from the network) deals with Filecoin miners and pay for them as they are completed. The miners here are in charge of executing various “deals” and creating new blocks.

    Price Movement

    At the time of writing, FIL is being traded at the price of $38.05 with an increase of almost 1.72% in the last 24 hours. FIL is a really strong token fundamentally. The maximum and minimum today are $41.13 and $37.25respectively. The daily trading volume has increased by almost 200%. FIL had created its ATH in October 2020 and reached a price of almost $430. After the reversal, FIL had achieved a massive value in September and got to the value of $120. FIL has a circulating supply of almost 142M coins and a total supply of almost 140M. It is listed on coinmarketcap at rank 36th. It can be exchanged on Binance, FTX, Huobi Global.

    Price Prediction – Filcoin (FIL)

    According to wallet investor thinks that FIL is a good investment. According to them, in one year, FIL would be worth around $58.05. In five years, the price is expected to reach a value of $143.215.

  • Filecoin (FIL) price prediction: Resistance at , analysis

    Filecoin (FIL) price prediction: Resistance at $48, analysis

    Filecoin (FIL) had been declining sharply since the beginning of May. The bullish momentum of the bull run got lost as the bears began dominating the crypto market. Filecoin had been declining since with some minor upside movements that could not be sustained. At the time of writing, Filecoin stands at a price level of $46.57. The price had declined very slightly in the past twenty-four hours while the trading volume has increased. The volatility of the cryptocurrency has declined greatly, although the bulls are still dormant.

    Filecoin (FIL) technical analysis

    The market outlook for the cryptocurrency continues to be bearish. Out of the total twenty-six technical indicators, fifteen are giving out an indication of sell with nine indicators standing at a neutral position and only two indicators at a buy position.

    Filecoin (FIL) technical analysis
    Filecoin (FIL) technical analysis

    Filecoin (FIL) had been identified to be operating in a descending channel formation since the beginning of July. The cryptocurrency had been decreasing sharply. After testing the support level at the lower boundary of the channel, Filecoin (FIL) saw slight bullish momentum and began moving upwards inside the channel. If the bullish momentum can be regained then an upward breakout from the channel is likely. In that case, the price targets at $55.20 followed by $73.55 will be activated. The support level at $43.5 at the lower boundary can be retested for an upside pullback or if the level fails to hold then the support level at $39.0 will help stabilize the cryptocurrency.

    Filecoin (FIL) price prediction

    The decentralized storage platform aims to “store humanity’s most important information”. With decentralization gaining momentum, Filecoin and other decentralized solutions will gain more importance. The price projections for Filecoin are bullish. Wallet Investor predicts a price of $575 in five years’ time – a staggering increase of 1,150%. Digital Coin Price is not as bullish on the cryptocurrency and projects a price of $163 by the end of the year 2026.

  • Filecoin (FIL) to test support at ?

    Filecoin (FIL) to test support at $40?

    Filecoin (FIL) was one of the top performers during the market crash. While the cryptocurrencies were moving down, Filecoin was on a strong uptrend. However, that is not the case anymore as Filecoin fell by 23% in the past week. Sat the time of writing, Filecoin stands at a price level of $73.08. The price has declined by 6% in the daily timeframe while the daily trading volume also fell by nearly 35%. A period of consolidation may be upcoming for the twenty-third largest cryptocurrency.

    Filecoin (FIL) Technical Analysis

    The market sentiment for Filecoin is bearish. Out of the total technical indicators, eleven are giving out a signal of sell while ten stand at a neutral position with only three indications signaling buy. The oscillators are neutral while the moving averages are majorly bearish.

    Filecoin (FIL) technical analysis
    Filecoin (FIL) technical analysis

    After a bullish cross of the 50-MA with the 200MA and the 200-EMA, the cryptocurrency was expected to move upwards; however, the bears overtook the market and Filecoin started off on a downward trend. Filecoin is expected to test various important levels on its downward trajectory. The price may show instability as it tries to find a supporting level. A trader’s analysis shows that the major support level lies at $40. However, the price may not fall so drastically unless the bears are extremely strong. The upside targets for the cryptocurrencies lies at $123 followed by $130.

     

    Filecoin (FIL) – Threat to cloud storage

    Filecoin (FIL) is a decentralized storage platform. It acts as a marketplace for buyers and sellers of storage. As we move into digitization, data will become even more abundant and storage of data a greater problem. There has been a recent spike in the demand for cloud storages from Amazon, Microsoft etc. However, the proposition of Filecoin has the potential to kick out centralized storage providers like these tech giants. Filecoin may prove to be a nuisance for the centralized market leaders as some believe decentralized storage is the future of a decentralized world.

  • Filecoin (FIL) support level – To stabilize or to drop further?

    Filecoin (FIL) support level – To stabilize or to drop further?

    Filecoin (FIL) established its all-time high at $188 during April. The cryptocurrency had been oscillating between resistance and support ever since. The bullish pullback of the Filecoin coin was ruined as the cryptocurrency market neared a crash similar to the 2018 one. At the time of writing, Filecoin crypto stands at a price level of $88. The price has been down by 16% in the past twenty-four hours while the daily trading volume is going upwards. Ranked twenty-sixth in the market, the capitalization of the coin has been suffering as well.

    Filecoin (FIL) Technical Analysis

    The market sentiment for Filecoin crypto is strongly bearish. Out of the twenty-four technical indicators, fifteen are giving out an indication of the sell while eight are standing at a neutral position with only one indication of buy. Both the oscillators and moving averages are strong bearish.

    Filecoin (FIL) Technical Analysis
    Filecoin (FIL) Technical Analysis

    Filecoin (FIL) had been identified by a trader to be operating in a descending channel formation. The channel had been further divided. Filecoin, amidst the strong bearish downtrend, has fallen towards the lower portion of the channel. The trader had identified the price level of $88 as a strong support level – with the convergence of a supporting line with the lower boundary of the formation. FIL crypto is testing the strong support level at the time of writing. The upcoming price action of the coin will prove to be crucial as it is imperative to find out whether or not the cryptocurrency will be able to hold the support level.

    Filecoin (FIL) Price Prediction

    Wallet Investors’ one-year prediction shows Filecoin to climb upwards. The price level of FIL crypto is expected to be at $348 while the five-year prediction shows a price of $1329. Digital Coin Price also suggests a bullish trend in the coming years for FIL coin. Their projections estimate Filecoin to be trading at $127 by the end of the year and at a price level of $387 in five years’ time.

  • Filecoin (FIL) may break resistance at $175

    Filecoin (FIL) has been amidst market corrections since the end of March when it established its all-time high at $237. The cryptocurrency has had upside pullbacks ever since but none as effective to completely lift it out of the market retracements. At the time of writing, Filecoin is trading hands $151 apiece. The price of the cryptocurrency has fallen by 4% in the past twenty-four hours while the trading volume has declines by 15%. Filecoin currently stands at twenty-one in the market. Filecoin crypto has had a brief period as the top ten cryptocurrencies in the market during its bullish momentum.

    Filecoin (FIL) technical analysis

    The market sentiment for FIL is bullish. Out of the twenty-six technical indicators, ten stand at a neutral position while nine are giving out a signal of buy with just five indications of sell. The oscillators re neutral while the moving averages are strongly bullish.

    A trader has identified Filecoin to be operating in a triangular formation. FIL crypto had begun forming the triangle since April. The trader is waiting for a break out confirmation from the formation in order to validate the target price set for Filecoin. Per the trader the price level of $175 is a strong resistance level for FIL crypto and the next price target. The resistance level has been firmed through the historical price action of FIL coin. If FIL crypto is able to break out of the triangle, then it can be expected to reach towards $175.

    What is Filecoin (FIL)?

    Filecoin is a decentralized storage platform utilizing the blockchain technology. Cloud storage platforms like Amazon have been facing problems because of centralization. The decentralization of Filecoin provides numerous benefits over centralized cloud storages like better security and efficiency.

  • Filecoin (FIL) Under Bullish Divergence?

    Filecoin (FIL) Under Bullish Divergence?

    After crossing the $200 mark – at the all-time high of $237 – Filecoin (FIL) suffered from market corrections and established a downtrend. At the time of writing, Filecoin stands at $143. The price has increased by nearly 10% in the past twenty hours while the daily trading volume has gone up by 20%. The future price actions will make it clear whether Filecoin has turned bullish or is under bullish pullbacks only.

    The technical indicators may be shifting from bearish to bullish as, at the time of press, they stand at a neutral position. Out of the 24 technical indicators, nine stand at a sell position, eight are neutral while seven indicators are giving out a signal of buy. The oscillators are mainly neutral while the moving averages are bearish.

    Trader TheDots is bullish on Filecoin in his Filecoin price analysis. Per the trader, Filecoin is under bullish divergence, albeit weak. The cryptocurrency is approaching towards the end of the bull flag where Filecoin established a new time high compared that with the contraction of Bollinger Bands – hinting lower volatility – the trader suggests results in a promising scenario for Filecoin.

    The decentralized storage system has been one of the leading cryptocurrencies in the bull run. The price rally of the coin resulted in it being in the top ten cryptocurrencies by market capitalization; however, it now stands at 18th rank in the market. Filecoin’s price rally had been said to be primarily driven by the Chinese community, apart from institutional interest like Grayscale which added the cryptocurrency to its fund.

    Filecoin’s trading volume surpassed Ethereum and Bitcoin the day it established its all-time high on the largest Chinese crypto exchange, Huobi. Chinese miners are required to keep Filecoin as collateral which drives demand for the cryptocurrency in the community. Moreover, Filecoin mining has also been becoming increasingly popular amidst shortages of BTC and ETH mining rigs.

  • Filecoin (FIL) under the spotlight: Recent developments you should know

    Filecoin (FIL) under the spotlight: Recent developments you should know

    Filecoin is a decentralized block chain solution that allows users to rent out free storage space on their disks. Filecoin (FIL) cryptocurrency is a project of Protocol labs and has been in the works since 2017; however, the cryptocurrency was launched on the mainnet in 2020.

    Filecoin price developments

    Filecoin established its all-time high right after the launch at the price of $62 but fell towards $30 afterwards and stayed there. It was not until February that Filecoin (FIL) picked up bullish momentum. The cryptocurrency surged upwards and has been on an upward trend ever since. As of this writing, Filecoin stands at $89 which is also the new all-time high. The bullish trend is expected to continue and, hence, Filecoin is set to establish higher highs subsequently.

    In the 24-hour timeframe, Filecoin cryptocurrency’s price observed a positive change of around 10% while the daily trading volume increased by 54%. Filecoin is ranked at 21 in the market. The market capitalization of the coin, too, increased by around 10%.

    The market sentiment for the cryptocurrency is bullish with a majority of the technical indicators giving out a signal of buy. Ten of the indicators are giving out a neutral signal while fourteen indicators are standing at a buy position with zero indications of sell. The oscillators are neutral while the moving averages are strongly bullish.

    Recent developments

    TL;DR Breakdown:

    • Coinbase listing of Filecoin
    • New Universal enters Filecoin mining
    • Grayscale Investments opens up Filecoin Trust

    Coinbase listed the cryptocurrency in December which caused a surge in the price of Filecoin. Only after two months of launching on the mainnet, the cryptocurrency started to gain popularity as major cryptocurrency exchanges started listing the coin.

    A Chinese manufacturing company by the name of New Universal – Newu – has decided to enter into Filecoin mining. The Shenzen-listed company has revealed a recent contract signed with an electronic manufacturer for the mining. Newu is set to buy around $90 worth of electronics for the mining process of Filecoin (FIL). The company has set a precedent for other Chinese companies by moving into Filecoin mining.

    The asset management firm – Grayscale Investments – has been very active in the crypto field. The trusts of the firm are very popular among investors and come usually as a direct result of client demand. As Filecoin crypto surged and gave phenomenal performance, it did not go unnoticed by Grayscale. The firm has announced the opening of a Filecoin trust along with Chainlink.

    Protocol Labs has found itself tangled in a scandal. The cryptocurrency suffered from a double deposit issue and news circulated that the block chain of Filecoin has a bug that resulted in the double spend. Protocol Labs has denied the allegation and instead stated that the misuse of Filecoin by exchanges has resulted in the problem. However, the double spend problem has had next to impact of the price of the cryptocurrency as it continues to surge upwards.