This Altcoin Jumped 15% with an Unexpected Performance: Here’s Why the Rise and Whether the Surge Will Continue!

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Decentralized storage platform filecoin ‘s FIL continues to rise, with a strong increase of 15% in the last 24 hours. Currently, at the time of writing, Filecoin (FIL) price is trading at $11.20 with a market cap of $6.1 billion. Additionally, daily trading volumes increased by a staggering 123% to $1.126 billion.

What’s Behind the Filecoin Price Rally?

Koinfinans.com As we reported, the recent rise in Filecoin (FIL) price can be attributed to the integrations of platforms such as LighthouseWeb3 and BVMnetwork that make Bitcoin layer 2 solutions secure and scalable. Filecoin’s decentralized storage helps Bitcoin developers by optimizing transaction record archiving, most notably through LighthouseWeb3 Node Aggregators. These integrations contribute to the overall growth of the ecosystem by strengthening Bitcoin Layer 2 solutions and increasing demand for the FIL token. is located.

Daniel Cheung, co-founder of Syncracy Capital, drew a parallel between Filecoin ($FIL) and Solana ($SOL) at the $20 price level, stating that there is a significant gap between market perception and reality, which could lead to a significant repricing.

Cheung outlines several factors that contribute to this disparity:

  • Filecoin’s Versatility: Contrary to popular belief, Filecoin is not just a storage blockchain. Cheung suggests that the platform covers a wide range of applications beyond storage, including computation and retrieval functions. It positions Filecoin as a strong contender in the artificial intelligence (AI) narrative and highlights its extensive network of data centers.
  • The Emergence of the Filecoin Ecosystem: Following the launch of the Filecoin EVM (Ethereum Virtual Machine) last year, Cheung points out a pivotal moment for the ecosystem. Filecoin has evolved into an emerging smart contract platform, with numerous projects preparing to launch tokens such as Glyph and the gradual launch of Filecoin subnets such as Fluence.
  • Misunderstandings About Aggregate Supply: Cheung highlights a common misconception among investors regarding the total supply of Filecoin. Despite concerns, he notes that it is unlikely that more than 40% of the total supply will be used, which could impact investor sentiment once it becomes clear.

FIL Price Target Ahead

The FILUSDT pair has recently experienced an unprecedented increase in trading volume on the weekly time frame, reaching all-time highs. Analyst Alan Santana considers this exceptionally high volume to be extremely bullish and points to further growth potential for Filecoin (FIL). Santana set his initial FIL price target at $18, implying a 95% upside. Then targeted prices include $44, $70, and $96, with potential gains of up to 915%.


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