$2.69T
Total marketcap
$64.63B
Total volume
BTC 50.00%     ETH 17.06%
Dominance
Filecoin

Filecoin FIL Price

$5.85 -2.2717%
  • ETH 0.0015
  • BTC 0.000086

Filecoin Price chart

Sorry, that's all we've gotfor now...

Statistics

Filecoin Price $5.85 All-time high $236.84 Days since ATH 1151
Price change -$0.136 (-2.2717%) Date of ATH Apr 1, 2021 % of ATH -97.52%

Filecoin Review

Filecoin (code: FIL)

Founded Date: Jul 15, 2014

Founders:

Juan Benet
Juan Benet
Founder

Filecoin(FIL) - Coin Trading Data

Filecoin Price $5.85
Ticker FIL
Market Capitalization $3.26B
Fully Diluted Valuation (FDV) $11.49B
Value 24h low $5.83
Value 24h high $6.03
Trade Volume for 24h $114.78M
Current Circulating Supply 556.49M
Maximum Supply 1.96B
Algorithm
ICO Price and ICO ROI 5 USD 1.17x
Price Change 24h % -2.2717%
FIL quote $5.85
Fully Diluted Valuation (FDV) $11.49B

Filecoin(FIL) ATH - All Time High Price

Filecoin ATH Price $236.84
FIL quote 1151
ATH Date Apr 1, 2021
All Time High % -97.52%

Filecoin Profile

Filecoin is a decentralized storage protocol that allows you to rent out your hard drive space. This creates a virtual global pool of data storage, which according to Filecoin's founders, will be necessary in the upcoming decades. As more and more systems become automated, the demand for secure data storage becomes more important with every passing year.

Filecoin approaches the problem of storing data in a new way, using decentralized mechanisms for this purpose. Unlike other cloud storage services such as Amazon Web Services and Cloudflare, which are marked by problems of centralization, Filecoin uses blockchain to maintain data integrity, making it easily accessible and uncensorable. Filecoin-like decentralized systems allow system users to become their own data keepers.

The potential benefits of Filecoin are as follows:

  • Technology: Filecoin offers data distribution on a network that sets up network storage, as well as mechanisms involved in data search.
  • Full decentralization
  • Convenient usage
  • Strong market position
  • Cheaper than Amazon Web Services or Google Cloud

Filecoin Operating Principle

Filecoin works similarly to the IPFS network, allowing users to exchange and store data without any incentive model. Clients are paying miners to store their file, both the miner and the client make a deal, and then the miner commits to store their file and make it publicly available in the blockchain.

Then the Filecoin encrypts the data, breaks it up into pieces, and places it on its network. It has an ongoing verification mechanism to check whether the miners are performing their task. Filecoin verifies data stored over a set period of time using the Proof of Replication (PoRep) and Proof of Space-Time (PoST) mechanisms.

Filecoin Features

The Filecoin network includes a number of different types of nodes.

Chain VerifierIt serves to synchronize the Filecoin blockchain and verify the latest blocks to reach a consensus state
Client NodeIt is installed on top of the Chain Verifier node and can be implemented by any application built in the Filecoin Network
Storage MinerIt serves to form contracts between miners and clients to store data for a certain period of time. These nodes receive FIL whenever new blocks are created, plus as a result of successfully completing storage contracts and adding new information to the blocks
Retrieval MinerIt creates retrieval contracts with clients for a particular file (dataset). These nodes earn FIL by executing data retrieval requests. A node's earnings are affected by its good location as the lesser the ping, the more comfortable it is for users when downloading information

The Filecoin project also provides a number of additional tools for the operation of each node. For example, storage is managed through the Slate online service, which is an open-source storage system built on top of the Filecoin blockchain. This service is designed for encouraging users to work together in a shared network.

History of Filecoin

  • In 2014, the Filecoin network first gained publicity, as its whitepaper was published by its creator Juan Benet that year.
  • In 2017, Filecoin's Initial Coin Offering (ICO) was held. Investors had a lot of faith in the project, as Filecoin raised more than $250 million during the ICO, which was a record at the time.
  • In October 15, 2020, the main network of the decentralized storage platform was launched on block 148,888.
  • In 2021, the developers of Filecoin released the NFT Storage platform.
  • In May 2022, the Filecoin Foundation and Lockheed Martin Corporation announced in Twitter (X) that they were developing a program to deploy an interplanetary file system (IPFS) in outer space.

FIL Token

FIL is Filecoin's own blockchain cryptocurrency. The FIL token was launched as part of an ICO in 2017. At that time, Digital Currency Group, Winklevoss Capital and Union Square Ventures became investors in the project. They received 10% of the tokens through a closed sale. After the launch of the network, the tokens in the free sale were sold out within an hour, and Protocol Labs received another $200 million from direct investment.

The Filecoin protocol is developed considering the deflationary component of the internal cryptocurrency:

  • FIL issuance was a single issue and was limited to two billion coins.
  • Developers received 15% of all issued FIL.
  • At launch, only 60 million FIL went into circulation. The rest will be gradually distributed over 15 years.

Currently, the total supply in the market is about 360 million.

Mining

Unlike other cryptocurrencies, where miners are rewarded for performing complex calculations for transaction validation, Filecoin miners receive FIL coins in exchange for providing computer storage. Filecoin miners are considered to be individuals and organizations that provide free disk space on Internet-connected computers.

Project participants pay validators to store and distribute content. The amount of reward is not fixed as it depends on the selected download speed and on the demands for the data that is replicated on the node: usually it is video or audio content.

Furthermore, storage miners have to provide a deposit to FIL too before accepting the contract, as the coins are used to automatically reimburse clients if the operator fails to meet its obligations to them. Keep in mind that it is profitable to be a Filecoin miner if the device is located in a highly populated center and connected to high-speed internet.

Filecoin serves as an effective tool to help create a free market for storage. Users can select miners based on value, bandwidth, security and reliability of storage that optimally meet their needs. The Filecoin protocol eliminates any need for storage providers to create a private API or promote their services, which reduces the entry threshold and creates a decentralized infrastructure of independent providers.

Summary

Filecoin is an evolving platform that allows users to buy and sell storage space. Investors noticed it closely only in March 2021, when the price of FIL cryptocurrency increased by six times. It is one of the few non-financial blockchain projects and has many differences from other startups:

  • With the help of Filecoin technology, storing information is becoming safer and cheaper;
  • The project has no problems with state regulation because the ICO was held in full compliance with the rules of the U.S. Securities and Exchange Commission;
  • The founder is a well-known programmer, who created the IPFS protocol;
  • Filecoin solves the actual problem which is the rapid growth of the information quantity;
  • The project has really influential sponsors from invested venture capital funds.

At the same time, buying FIL cryptocurrency as an investment also has risks:

  • Competition is still high, as there are many other blockchains for decentralized data storage;
  • The problem that Filecoin solves will become important only in a few years, so the project may not pass the test of time.

How much is a one Filecoin worth now?

1 Filecoin worth $5.85 now.

What is the price of FIL?

The price of FIL is $5.85.

What is the Filecoin max supply?

The max supply of Filecoin is 1.96B.

What is the Filecoin stock symbol or ticker?

The stock symbol or ticker of Filecoin is FIL.

How many FIL coins are there in circulation?

There are 556.49M coins in circulation of FIL.

What is the exchange rate of Filecoin(FIL)?

The exchange rate of Filecoin is $5.85.

What was Filecoin's trading volume in 24 hours?

Filecoin's 24-hour trading volume is $114.78M.

What was the highest price paid for Filecoin?

Filecoin reached a record high of $236.84 on Apr 1, 2021

Filecoin Exchange Rates on Trading Markets

# Exchange Pair Price 24h volume Volume % Updated
1 Binance Binance FIL/USDT $5.85 $21.9M 16.48% 7 minutes ago
2 HTX HTX FIL/USDT $5.85 $13.83M 10.41% 28 seconds ago
3 OKX OKX FIL/USDT $5.85 $13.48M 10.14% 5 minutes ago
4 CITEX CITEX FIL/USDT $5.85 $7.83M 5.89% 4 minutes ago
5 Bibox Bibox FIL/USDT $5.84 $7.51M 5.65% 3 minutes ago
6 Biconomy Biconomy FIL/USDT $5.86 $7.3M 5.5% 8 minutes ago
7 DigiFinex DigiFinex FIL/USDT $5.85 $4.94M 3.72% 4 minutes ago
8 Poloniex Poloniex FIL/USDT $5.85 $4.65M 3.5% a minute ago
9 Bitget Bitget FIL/USDT $5.87 $4.61M 3.47% 25 minutes ago
10 Bybit Bybit FIL/USDT $5.85 $4.3M 3.24% 6 minutes ago
11 WhiteBIT WhiteBIT FIL/USDT $5.85 $4.03M 3.03% 6 minutes ago
12 Gate.io Gate.io FIL/USDT $5.85 $2.25M 1.7% 5 minutes ago
13 Coinbase Exchange Coinbase Exchange FIL/USD $5.86 $1.96M 1.48% 7 minutes ago
14 XT.COM XT.COM FIL/USDT $5.85 $1.76M 1.32% a minute ago
15 Bitrue Bitrue FIL/USDT $5.85 $1.7M 1.28% a minute ago
16 CoinCatch CoinCatch FIL/USDT $5.85 $1.19M 0.89% a minute ago
17 HitBTC HitBTC FIL/USDT $5.85 $1.01M 0.76% 3 minutes ago
18 FMFW.io FMFW.io FIL/USDT $5.85 $997.23K 0.75% 52 seconds ago
19 Trubit Trubit FIL/USDT $5.85 $935.53K 0.7% 5 minutes ago
20 FameEX FameEX FIL/USDT $5.84 $867.75K 0.65% a minute ago