Filecoin ( $FIL) Coin Analysis, Price, Market-cap and Future Predictions.

Bombolo | Coin News and Articles

Filecoin is like a big, global storage system that works on the internet. It's based on a special technology called IPFS, which helps store files in a decentralized way. This means instead of storing files in one central place, like how big companies such as Amazon or Google do with their cloud storage, Filecoin spreads files out across many different computers all over the world.

The idea is to use all the extra storage space that exists but isn't being used efficiently. People who need to store files can pay for storage space using Filecoin. And those who offer up their extra storage space to the network get paid in Filecoin for doing so.

So, it's kind of like a big storage marketplace where people pay for storage using Filecoin, and those who provide the storage space get paid in Filecoin for offering up their unused space.

Also Read: Polkadot ( $DOT) Coin Analysis, Price, Market-cap and Future Predictions.

Price:

Today, 9th March 2024, the price of Filecoin ( $FIL) is $11.48 USD. In the past 24 hours, there has been $1,143,787,804 USD worth of FIL traded. This means that the value of FIL has increased by 13.51% over the past day. Currently, FIL is ranked #22 among all cryptocurrencies, with a total market value of $5,977,446,673 USD. There are 521,900,316 FIL coins in circulation, and the maximum supply is not available.

The highest price ever paid for Filecoin was $236.84, and that happened back in April 2021, almost 3 years ago. Since then, the price has dropped quite a bit, and right now, it's about 96.78% lower than that highest price.

On the other hand, the lowest price ever paid for Filecoin was $2.64, and that was in December 2022, about 1 year ago. Since then, the price has gone up quite a bit, and currently, it's about 189.14% higher than that lowest price.

Also Read: Ronin (RON) Coin Analysis, Price, Market-cap and Future Predictions

Future Predictions:

Experts are predicting that Filecoin's price will likely stay between $7.02 and $17.51. If the price goes up to the highest end of that range, which is $17.51, it could increase by 130.15% from its current level. So, if Filecoin reaches its highest expected price, it could more than double in value.

The forecast for Filecoin in 2024 is positive, which means it's expected to do well. This suggests that buying Filecoin in 2024 could be a good idea.

Also Read: Worldcoin (WLD) Coin Analysis, Price, Market-cap and Future Predictions.