Filecoin

FIL Price

What is Filecoin?

Filecoin is a decentralized storage network based on the Interplanetary File Storage (IPFS) protocol. It is designed to utilized unused storage globally into an efficient storage market for users to pay for low cost storage. The objective is to ensure file storage is permanent and distributed across the web. Contrast this with centralized cloud storage solution such as Amazon Web Services, Google Cloud, or Dropbox, where data are stored in servers owned by these private corporations.

Filecoin (FIL or ⨎) is also the currency of the decentralized storage network. Customers wanting to access storage will have to pay for storage in Filecoin. Nodes that provide storage to the network will in turn be paid in Filecoin for their service.

What is IPFS?

IPFS stands for Interplanetary File Storage, a peer-to-peer storage and file system protocol developed by Protocol Labs. When a file is uploaded to the IPFS network, the file is designated a unique signature, and multiple nodes can host a whole or portion of that file. These files can be requested by any user with access to the address through the unique signature. As any nodes can store a copy of the file, it is distributed thus giving resilience to the file's existence on the internet. Many haven liken IPFS to be as important as the Bittorrent protocol created by Bram Cohen.

What was Filecoin ICO price?

The Filecoin initial coin offering (ICO) price started at $1, and increased by $1 for every $40 million raised, capping at $6 per token. The ICO was conducted on August 10th, 2017 and the Filecoin team have successfully raised over $200 million of funding.

Who are the founders of Filecoin?

Protocol Labs is the company behind Filecoin founded by Juan Benet. 

Is Filecoin on Ethereum?

No, Filecoin has its own blockchain network, specialized at network storage.

Is Filecoin live?

Yes, Filecoin is already running live on mainnet which was launched on October 15th, 2020

Who are the competitors of Filecoin?

There are other storage network that is also providing distributed file storage incentivized with cryptocurrencies such as Storj, Siacoin, BitTorrent, Arweave, and other storage sector coins.

Where can you buy Filecoin?

FIL tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Filecoin is Binance, where the most active trading pair FIL/USDT has a trading volume of $23,348,906.83 in the last 24 hours. Other popular options include OKX and WEEX.

What is the daily trading volume of Filecoin (FIL)?

The trading volume of Filecoin (FIL) is $207,399,387.85 in the last 24 hours, representing a -3.30% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Filecoin (FIL)?

Filecoin (FIL) reached an all-time high of $236.84 and an all-time low of $0.6124. It’s now trading -99.60% below that peak and 56.30% above its lowest price.

What is the market cap of Filecoin (FIL)?

Market capitalization of Filecoin (FIL) is $795,828,807 and is ranked #87 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of FIL tokens (830 Million tokens are tradable on the market today).

What is the fully diluted valuation of Filecoin (FIL)?

The fully diluted valuation (FDV) of Filecoin (FIL) is $1,874,679,959. This is a statistical representation of the maximum market cap, assuming total number of 2 Billion ETH tokens are in circulation today.

How does the price performance of Filecoin compare against its peers?

With a price increase of 29.70% in the last 7 days, Filecoin (FIL) is outperforming the global cryptocurrency market which is up 12.80%, while outperforming when compared to similar Smart Contract Platform cryptocurrencies which are up 12.70%.