FIL jumps 24% as Filecoin community eyes major network upgrade

2023-3-14 22:05

Filecoin’s native token FIL spiked 24% to around $6.44 on Monday. The launch of the Filecoin Virtual Machine (FVM), expected on 14 March, has the community buzzing. FVM brings smart contracts and network programmability to the Filecoin network.

Filecoin, a decentralised storage network that allows users to access efficient blockchain-based file storage at low, is hours away from a major network upgrade. The excitement around the new features that come with the upgrade, alongside broader market exuberance, has helped push the value of the native FIL token higher.

Filecoin price today

FIL was trading around $6.36 at 2:00 pm ET on Monday, up more than 24% in the past 24 hours. According to data from TradingView, the cryptocurrency’s price had touched an intraday high of $6.44 on major crypto exchange Coinbase.

Per the market data from CoinGecko, the file storage platform’s native token has jumped more than 32% over the past month.

Filecoin price chart showing FIL jumped to $6.50 on Coinbase on Monday. Source: TradingView

Why did Filecoin price rally?

The broader cryptocurrency market has rallied hard in the past 24 hours, with massive buying pressure on Monday as the markets reacted to news of the US government working to backstop failed banks. 

As CoinJournal reported, the sentiment flip saw Bitcoin add over $4,000 in 24 hours as bulls rallied to prices above $24,000. Most altcoins also soared, with the total cryptocurrency market cap rising nearly 15% to over $1.16 trillion.

But for Filecoin, as noted above, the upside momentum also included buyside pressure catalysed by an upcoming network upgrade.  In February, the Filecoin developer team announced that the Filecoin Virtual Machine (FVM) would go live in March.

The price of FIL tokens jumped more than 26% on the day after the Filecoin news reached the market. Just like then, the latest price surge comes as the developer team confirmed that FVM would go live on Tuesday, 14 March 2023. 

This is because the upgrade is set to introduce smart contracts, allowing for the creation and deployment of decentralised applications (dApps) on Filecoin. The FVM upgrade also unlocks features such as collateral lending and liquid staking.

“Basically – if you regard the Filecoin storage network as a massive decentralized data warehouse whose state is being constantly proven to the public, you can think of the FVM as a programmable controller for it,” the Filecoin team noted last week.

The post FIL jumps 24% as Filecoin community eyes major network upgrade appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Filecoin [Futures] (FIL) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $5.1636
Капитализация $0 Rank 99999
Цена в час новости $ 6.3203 (-100%)

filecoin network fil fvm community expected programmability

Источник: coinjournal.net

filecoin network → Результатов: 69


Фото:

Should you buy FIL after the launch of the content delivery network Saturn?

The developers behind the decentralized storage solution Filecoin (FIL/USD) have launched a content delivery network known as Saturn. Filecoin was developed to store data in a decentralized way, leveraging decentralization to protect the integrity of the data’s location, making it retrievable at any point in time and difficult to censor.

2022-10-29 12:48


ComputeCoin introduces testnet with top crypto miners after securing $2M funding

ComputeCoin Network (CCN), a self-evolving computer built to serve the metaverse with $2 million in funding, today announced the launch of its testnet. With some of the top crypto miners such as Ethereum (ETH), Filecoin (FIL), and Swarm (BZZ) miners on board, CCN continues to invite interested and qualified miners to apply until October 11th, […] The post ComputeCoin introduces testnet with top crypto miners after securing $2M funding appeared first on CryptoNinjas.

2021-9-28 20:17


Фото:

Blockchain Object Storage Company Filebase Raises $2M, Aims to Incorporate Filecoin and Arweave Networks

Filebase, a blockchain-based object storage company built on top of the Sia network has revealed the business has closed an initial seed round gathering $2 million from investors. Interest in decentralized storage networks has blossomed in recent months and Filebase expects the growth of global data to surpass 175 Zettabytes by 2025. The project is […]

2021-4-26 11:30


Фото:

Емкость cети Filecoin достигла 2,5 млрд гигабайт

Емкость децентрализованной платформы для хранения данных Filecoin достигла 2,5 млрд Гбайт. Это эквивалент 11 250 копий Википедии или 47 архивов всей размещенной в глобальной сети информации. 🙌 "The Filecoin network continues to grow - now its storage capacity equals thousands of copies of Wikipedia and tens of copies of the Internet Archive.

2021-2-18 12:16


Fenbushi Capital launches $15M+ investment fund for Filecoin and IPFS ecosystem

China-based blockchain investment firm Fenbushi Capital, today announced it has launched the Fenbushi Ecosystem Fund, a new investment fund designed to drive the continued growth of applications under development on the world’s largest decentralized storage network, Filecoin, and its underlying protocol, a peer-to-peer (p2p) file-sharing system, IPFS.

2021-1-11 19:31


дальше еще 20 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Filecoin price prediction: is it safe to buy the FIL dip?

Filecoin price remained under intense pressure this week. The coin has plunged to the lowest level since June 10th. The developers introduced slasher and lotus disputer. Filecoin price remained under intense pressure following last week’s crash.