Filecoin (FIL) has surged a massive 30% in the last 24-hours to make its way to the top-ten cryptocurrencies list flipping dominant players like Chainlink (LINK). FIL, the tenth-largest cryptocurrency by market cap has surged a massive 125% over the last week on account of multiple developments taking place.
At press time, Filecoin (FIL) is trading at a price of $196.26 with a market cap of $12.4 billion. Filecoin, the blockchain-based decentralized storage network developed by Protocol Labs has seen rising demand since the beginning of 2021. Filecoin allows users to have total control over their data while taking on big-tech giants like Amazon and Google.
As per the latest news, some of the most popular projects like Wikipedia, Project Gutenberg, and OpenAQ are using the Filecoin Network to store their treasured data archives.
Wikipedia, OpenStreetMap, gnomAD, Project Gutenberg, and OpenAQ are just some of the treasured data archives stored on the Filecoin network. Explore some of these projects on the Filecoin website: https://t.co/hKQI5O3F6h
— Filecoin (@Filecoin) April 1, 2021
Trending Stories
Filecoin (FIL) Miners Making Aggressive Bets
Besides, there’s a growing interest among crypto miners to mine Filecoin. Last week on March 27, the Filecoin team announced that Filecoin miners and Liverpool miners can co-mine FIL together. Also, a lot of this mining interest for Filecoin is reportedly coming from China.
Last week, local news publication AI Express reported that Shenzhen-based computer hardware manufacturer Xinyuan Technology has entered a massive worth of deal with Jiangxi-based electronic component manufacturer Sesumg. The two companies have entered an agreement for a “Distributed Storage Center Project” and placed a massive $89 million order for IPFS (Filecoin) miners.
On Tuesday, March 30, another Shanghai-based company The9 Limited signed a Filecoin mining machine purchase and hosting agreement worth $2 million with a FIL mining service provider. This is over the $10 million FIL miner purchase which the company did in February 2021. The official press release notes:
“At present, The9 owns an independent node on Filecoin blockchain and 8 Pebibytes of effective storage mining power in the Filecoin network. When the two agreements are fully implemented, The9 is expected to have a total of more than 80 Pebibytes of effective storage mining power in the Filecoin network.”
Another major boost for Filecoin is that last month, Grayscale Investments announced its new Filecoin Trust letting institutional players get exposure to the cryptocurrency.
- Just In: Basel Committee Proposes Cap For Banks’ Bitcoin Holding
- Dogecoin (DOGE), Shiba Inu (SHIB) Show Strength, Here’s Why
- Breaking: Singapore Financial Regulator Reprimands Three Arrows Capital
- Ethereum Exchange Supply Spikes, ETH At A Risk of Correcting to $700 And Below
- Bitcoin Prices Can Reach This Level By End Of 2022; Reveals Deutsche Bank
- NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked
- EU Passes A Bill to Trace the Flow of Bitcoin & Crypto Assets In Regulatory Tightening Measures
- North Korea’s Lazarus Group Behind $100 Million Horizon Hack, Harmony Initiates Global Manhunt
- “People Mocking Saylor Will Regret”- Binance CEO
- Grayscale Initiates A Lawsuit Against the U.S. SEC Over Spot Bitcoin ETF Issues
- Polygon Price Analysis: V-top Reversal may Direct MATIC to $0.31 Support
- ETH Price Analysis: Is Ethereum Dropping To Three Digits?
- Bitcoin Price Analysis- BTC on Losing Streak Nearing $17800; Will it Hold?
- NEAR Price Analysis: Falling Prices Eye $3 Breakdown; Should Coin Holders Worry?
- SHIB Price Analysis: Sustained Selling may Lead $SHIB to $0.0000074?
- Sandbox Price Analysis: Crashing SAND Prices Warns 25% Downfall
- Solana Price Analysis: $36 Breakdown Teases SOL Price to Revisit $26
- Chainlink Price Analysis: Wedge Pattern could Lead LINK price below to $5
- AAVE Price Analysis: Buyers Need $76.6 Breakout to Trigger Bullish Recovery
- Apecoin Price Analysis: Rising APE Price Knockout Another Barrier; is $6 Next?