Filecoin (FIL) is a decentralized storage network that leverages blockchain technology to create a global, open marketplace for storing and retrieving data. As of the latest market update, the Filecoin price stands at $2.32**, with a 24-hour trading volume of **$465,198. Over the past day, FIL has seen a decline of -4.38%, while gaining +5.48% over the last week. This fluctuation reflects the dynamic nature of the cryptocurrency market and investor sentiment toward decentralized storage solutions.
The current circulating supply of Filecoin is 679,749,446 FIL, out of a maximum supply cap of 2 billion, resulting in a current market capitalization of $1.57 billion. Filecoin ranks #36 by market cap, highlighting its established presence in the broader crypto ecosystem.
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Key Metrics and Performance Trends
Understanding FIL’s price movements across different timeframes provides valuable insight into its market behavior:
- 24 Hours: -4.13% ($-0.1001)
- 7 Days: +5.48% ($+0.1205)
- 30 Days: -12.07% ($-0.3184)
- 90 Days: -16.75% ($-0.4666)
While short-term volatility is evident, the weekly uptick suggests growing interest or stabilization following recent dips. Investors should monitor these trends closely, especially as macroeconomic factors and tech developments within the Filecoin network influence price action.
All-Time High and Low
Filecoin reached its all-time high (ATH) of $237.24 during the 2021 bull run—a peak driven by strong institutional interest and hype around Web3 infrastructure projects. Currently, FIL is trading 99.02% below its ATH, reflecting a significant correction common in post-bull market cycles.
On the flip side, the all-time low of $1.82** marks a key support level. At today’s price of $2.32, FIL is trading 26.75% above this low**, indicating some recovery momentum despite prolonged bearish pressure.
Where to Store Filecoin (FIL)
Securing your FIL holdings is crucial for long-term investment safety. There are several reliable storage options available:
- Exchange Wallets: Platforms like OKX and others offer custodial wallets where users can store FIL without managing private keys.
- Self-Custody Wallets: Software wallets such as MetaMask, Trust Wallet, or dedicated Filecoin-compatible wallets allow full control over assets.
- Hardware Wallets: Devices like Ledger or Trezor provide enhanced security through offline storage.
- Paper Wallets: A cold storage method involving printed public and private keys—ideal for long-term holders.
- Third-Party Custodians: Institutional-grade services offering insured storage solutions.
Choosing the right method depends on your usage frequency, security needs, and technical comfort level.
How to Convert Filecoin to Cash
Converting FIL into fiat currency (e.g., USD, EUR) is straightforward through cryptocurrency exchanges:
- Transfer your FIL to a reputable exchange that supports FIL/fiat trading pairs.
- Sell FIL for your desired fiat currency (e.g., USD).
- Withdraw funds to your linked bank account.
Most major exchanges process withdrawals within 1–5 business days, depending on regional banking systems.
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Core Ecosystem Resources
For developers, investors, and users interested in deeper engagement with Filecoin, the following official resources are essential:
- Official Website: filecoin.io
- Documentation: docs.filecoin.io
Block Explorers:
These tools enable real-time transaction tracking, network analytics, and developer integration.
Contract Addresses
- BNB Smart Chain (BEP20):
0x0d8ce2...153 - HECO Chain:
0xae3a76...810
Notable Investors
Filecoin has attracted backing from prominent venture capital firms in the blockchain space:
- Genblock Capital
- FBG Capital
- Blockchange Ventures
- Placeholder
- Consensus Labs
- Waterdrip Capital
- Mint Ventures
This strong institutional support underscores confidence in Filecoin’s long-term vision of decentralizing data storage.
Frequently Asked Questions (FAQ)
Q: What is Filecoin (FIL) used for?
A: FIL is the native token of the Filecoin network, used to pay for storage services, reward storage providers, and ensure network security through proof-of-replication and proof-of-spacetime mechanisms.
Q: Is Filecoin a good investment?
A: While past performance doesn't guarantee future results, Filecoin’s role in decentralized cloud storage gives it utility value. Long-term potential depends on adoption growth, technological upgrades, and overall crypto market conditions.
Q: How does Filecoin differ from traditional cloud storage?
A: Unlike centralized providers like Amazon AWS or Google Cloud, Filecoin offers a peer-to-peer model where anyone can rent unused hard drive space. It promotes censorship resistance, lower costs, and greater data sovereignty.
Q: Can I mine Filecoin?
A: Yes—though not via traditional proof-of-work mining. Participants "mine" FIL by providing storage capacity and proving they are correctly storing data over time using cryptographic proofs.
Q: What affects Filecoin’s price?
A: Key factors include network usage, storage demand, investor sentiment, broader crypto trends, regulatory news, and technological milestones like protocol upgrades or partnerships.
Q: Where can I buy Filecoin (FIL)?
A: FIL is listed on major exchanges including OKX, Binance, Kraken, and others. Ensure you use secure platforms with strong liquidity and regulatory compliance.
Final Thoughts
Filecoin represents a foundational piece of the emerging Web3 infrastructure, aiming to democratize access to data storage and reduce reliance on centralized tech giants. Despite significant price corrections from its all-time high, its underlying technology continues to evolve, supported by an active developer community and strategic investors.
As decentralized applications grow in complexity and data needs expand, networks like Filecoin may play an increasingly vital role in shaping a more open and resilient internet.
Whether you're an investor assessing long-term potential or a developer building on decentralized storage, staying informed about FIL’s price trends, ecosystem updates, and real-world adoption will be key to navigating this evolving landscape.
Market data is subject to change rapidly. Always conduct independent research before making financial decisions.