Filecoin (FIL) Price Prediction: Is Filecoin A Good Investment?
The fast-paced crypto town has been delivering groundbreaking unique projects every day. One of the innovative crypto assets that stunned the space with its distinctive features is Filecoin (FIL). The network with its Decentralized file storage system, and growing metrics has established its reign in the business.
After its massive run in 2021, where the asset scored triple-digit returns, marketers are keen on investing in FIL. Are you keen on investing in FIL, but doubtful of its projections in the near future and in the long term? Look no further, as we bring to you the plausible FIL price predictions for 2024 and the years to come!
Overview
| Cryptocurrency | Filecoin |
| Token | FIL |
| Price | $ 5.43307281 |
| Market cap | $ 2,753,239,148.8926 |
| Circulating Supply | 506,755,430.0000 |
| Trading Volume | $ 118,617,170.2481 |
| All-time high | – |
| All-time low | – |
| 24 High | $ 5.4960 |
| 24 Low | $ 5.2090 |
*The statistics are from press time.
Filecoin (FIL) Price Prediction
| Year | Potential Low | Average Price | Potential High |
| 2022 | $6.8522 | $8.0007 | $9.4096 |
| 2023 | $8.7645 | $11.6780 | $16.6154 |
| 2024 | $14.0484 | $19.1335 | $26.2816 |
| 2025 | $22.0783 | $30.2543 | $41.7273 |
Filecoin Crypto Price Prediction For 2023
If the altcoin hits positive highs by the end of 2022, then 2023 may start with a bullish note. As some of the upgrades are in the pipeline if the network fails to introduce at the said time. Then the price may end up trading at $8.7645 by the end of 2023.
With successful upgrades the asset could moon to $16.6154. However, with regular buying and selling pressures, we could see FIL price trading at an average value of $11.6780.
FIL Crypto Price Prediction For 2024
The year 2024 remains of vital importance for the crypto industry, as it marks for Bitcoin’s halving event. If the crew behind Filecoin makes the most out of the year, by rolling out developmental upgrades and community-building initiatives. The price of FIL might propel to its potential high of $26.2816.
However, factors like soaring inflation numbers and negative criticism cannot be ruled out. In such circumstances, the digital token could sink to the lows of $14.0484. That said, the lack of fulfilling events could limit the price to an average level of $19.1335.
Filecoin Price Prediction For 2025
By the end of 2025, the Filecoin price might continue to peak and it may break all its past price records. The firm might announce new services to its trading to enhance the minds of the investors to invest in FIL. Successively, the asset might reach the $41.7273 mark.
However, if any strong regulatory restraints impact the price action, then FIL price may end up trading at $22.0783. That said, constrained by an upright momentum, the regular price might find its base at $30.2543.
Market Analysis
Digital Coin Price:
A crypto prediction website has revised its FIL price prediction. The firm expects the price to close its trading at a maximum of $8.11 by the end of 2022. That said, the minimum and average closing targets for 2022 are set at $7.18 and $7.77 respectively. According to Digital Coin Price forecasts, FIL could reach a maximum of $25.08 by the end of 2025.
Trading Beasts:
According to the forecast of Trading Beasts, FIL price could hit its potential high of $7.940, by the end of 2022. The firm expects minimum and average closing prices to fall at $5.399 and $6.352 respectively. That said, the maximum closing targets for 2023 and 2025 are set at $11.936 and $8.117 respectively.
Priceprediction.net:
As per the Filecoin price prediction by the website. The altcoin could soar to a maximum of $6.98 by the annual closure of the current year. Whilst a reversal in trends could knock the price down to $6.33. That said, an equilibrium in buying and selling pressures could land the digital asset at $6.62. Consequently, the firm expects FIL price to claim a potential high of $22.46 by the end of 2025.
To read our price prediction of Algorand (ALGO) click here!
What Is Filecoin (FIL)?
Filecoin is a trusted decentralized storage system, with an objective to “store humanity’s most important information”. Moreover, the asset is an open-source cloud storage cryptocurrency. Launched with the aim of blockchain-based cooperative digital storage and retrieval.
Similar to Ethereum, Cardano, and many other assets, Filecoin has its own native token FIL. This is an ERC 20 token in Binance smart chain mainnet. This native protocol incentivizes a global network of computer operators to pay for digital storage and retrieval, and for other transactions on the platform.
Filecoin is a trusted decentralized storage system with the objective of “storing humanity’s most important information.” The asset is an open-source cloud storage cryptocurrency. Filecoin was created by Juan Benet, who is also the creator of the Interplanetary File System. The initial release of Filecoin was on July 15th, 2014, and is based in San Francisco, California. It was launched with the aim of blockchain-based cooperative digital storage and retrieval.
Filecoin stores data in a decentralized manner, which contradicts the problems with centralization that are faced by its global rivals. Moreover, decentralization helps the network protect the integrity of the location of data. As a result, easy retrieval and hard-to-sense Filecoin allows users to be their own custodians, whilst making the web more accessible to the world.
Successively, the network rewards its participants for storing data and acting honestly. Unlike the majority of its rivals, Filecoin secures its network through Proof-of-Replication and Proof-of-Spacetime. Filecoin has its native token FIL, which is an ERC 20 token on the Binance smart chain mainnet.
Fundamental Analysis
The initial release of filecoin
filecoin
contact@filecoin.io
DeFiDecentralized storage network
was on the 15th of July 2014 and went live on the mainnet in October 2020. The platform was founded by Juan Benet, who was a Computer scientist from the USA, who completed his studies at Stanford University.
In order to bring revolutionary changes in the DeFi space, he launched Protocol labs in the year 2014. With the aim of promoting Filecoin, an Interplanetary File System (IPFS), a peer-to-peer storage network, and other projects. Prior to Filecoin mainnet launch in July 2020. Truffle Suit had declared that it would be allowing Filecoin to facilitate its investors to build DeFi Apps with 100% uptime.
Successively, this could be done by extracting the benefit of Filecoin’s digital storage miners across the world. In October 2020, Filecoin announced a partnership with consensys
consensys
t*****r@consensys.net
Crypto / Blockchain Solution
. With an aim of serving traders by enabling a new cost-efficient digital data storage option. Conversely, more than 60 tech firms have collaborated with Filecoin. And the platform has exceeded 1 exbibye of storage capacity.
CoinPedia’s Filecoin Price Prediction
The constant upgrades and partnerships will give a massive boost to the price of Filecoin (FIL). According to Coinpedia’s formulated Filecoin price prediction. With a spike in bull market sentiments, FIL’s price may skyrocket to $9.5 by the end of the year 2022.
On the downside, future market fluctuations and increased competition may adversely affect the altcoin’s price. Wherefore, the price may see a downtrend in the upcoming months. Which may result in a collapse of the coin’s price to $6.8.
Historic Market Sentiments
2020:
- Filecoin entered the market in mid of October 2020. The price started to show notable improvements and reached $5 by the end of November.
- With certain fluctuations, the FIL price ended 2020 with a trading price of $4.97.
2021:
- The first quarter of the year…
Read More:Filecoin (FIL) Price Prediction: Is Filecoin A Good Investment?