FIL is a native coin of the platform Filecoin. Its current price is around $5.47 by the time of writing, with a low of $4.82, and has a market cap of 1.2 billion dollars.
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What is Filecoin?
Filecoin’s blockchain is designed with much bigger files than other blockchain protocols. As a result, Filecoin can provide space to other blockchains for storing expensive-to-encode data like large files. Filecoin is a decentralized storage network that Protocol Labs have developed. It allows people to sell their extra storage space on an open platform. In addition, FileCoin acts as an incentive and security layer.
What is FIL?
FIL is the coin of the Filecoin platform, which is around $5.47 by the time of writing, with a low of $4.82. It reached a high of $119.97, and its current ranking is #39 according to CoinMarketCap, with a market cap of 1.2 billion dollars. FIL offers an incentive to ensure the reliability of file storage. The cryptocurrency is offered as an economic incentive for peer-to-peer file storage.
FIL Coin Market Analysis
FIL has a total supply of 227,472,507 coins worth around $5.47 with a market volume of 99 million dollars, whereas the market capitalization is 1.2 billion dollars at writing. Of course, there is no guarantee that any specific cryptocurrency will be successful in 2022, but it seems that FIL might be an undervalued crypto asset.
FIL Price Prediction
The Filecoin price prediction for the long-term suggests it would be worth as much as $12.23 by 2023. On the four hours timeframe, the price action of $FIL/USDT has broken the symmetrical resistance trendline. Currently, it is testing out below the horizontal resistance zone.
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Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.