Why Filecoin is up almost 100% this week

Why Filecoin is up almost 100% this week

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Filecoin (FIL) is up almost 100% this week and is trading 31% higher at $10.93 at press time.

FIL was surging strongly at press time, even as major coins declined and the global cryptocurrency market cap fell 0.9% to $1.1 trillion.








Filecoin (FIL) price history
Time window % change (+/-)
24 hours 31%
24 hours against Bitcoin BTC/USD 35.1%
24 hours against ether ETH/USD 33.4%
7 days 99.3%
30 day 112.4%

YTD performance

-69%

See also: How to get free crypto

The Filecoin Factors

  • Filecoin was trending with retail investors on Stocktwits at press time. The token was the top 24-hour gainer on CoinMarketCap and also topped the trending list on the price tracking website. It was also noted as trending on CoinGecko.
  • According to CoinMarketCap, 24-hour trading volume for FIL increased by 32.2% to $2.12 billion.
  • Coinglass data showed that $12.01 million worth of FIL was liquidated within 24 hours as the token’s price surged
  • FIL’s relative strength index is 85.72 at press time, according to TradingView. An asset with an RSI above 70 is considered overbought, while one with an RSI below 30 is considered oversold

NFT memory buzz

The official name of Filecoin shared a post about NFT.Storage – a service that uses the platform’s technology to store recently non-fungible tokens. The service was launched in April 2021 and currently has around 30,000 users.

The handle also shared a recent news article about NFT. Storage and how Filecoin is used.



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