Mengapa Filecoin meningkat 430% dalam sebulan?

The title of the most demanded altcoin can be awarded today not only to Ethereum, but also to Filecoin.

Over the past month, the FIL token has shown a dizzying growth, adding 430% and reaching an all-time high of $237.99 on the Binance exchange. Despite the fact that over the past 2 days there has been a significant pullback and at the time of this writing, the price fell to $168, this did not prevent it from retaining the 13th place by capitalisation on CoinMarketCap with an amount of $10.741 billion.

Filecoin is a blockchain-based public payment system for fetching and downloading data. It was based on IPFS, a communication protocol created for the decentralised storage of files on the blockchain, including the ability to share them. This is its key difference from other cryptocurrencies and Bitcoin.

The main reason for growth is the introduction of a block reward mechanism into the system, constantly stimulating an increase in the network's capabilities. Now the system needs enough space to store a large amount of data, which is growing rapidly. Mostly because of the need to maintain file security and the stability of the IPFS protocol.

An additional incentive was the support for Filecoin from large organisations such as Grayscale. The company currently holds more than 45.5 thousand FIL tokens worth $7.83 million at the exchange rate of the Binance crypto exchange. At the same time, 29.5 thousand FIL Grayscale were purchased only in the last 24 hours!

In addition to Grayscale, the project was supported by Hisashi Capital, announcing the creation of a digital asset fund: Filecoin, Ethereum and Bitcoin. The company now manages 300,000 FIL tokens, which is the equivalent of $51.64 million.

On March 24, the Filecoin team announced the start of work with the Chainlink startup. Thanks to this, the creators of the file network will be able to simplify access to other blockchains by building a connection with Ethereum. Well, the last "impulse" for Filecoin was the beginning of cooperation with Livepeer for a common mining project.

Also at the end of last month, Filecoin announced that from April 15, FIL generation will decrease by 43.2% - from 648,000 units per day to 280,000 units.

It looks like mid-April will be the new starting point for Filecoin. A significant reduction in the FIL supply only pro stimulates the further growth of the coin. This means that all its holders will benefit.

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The article has an informational character, reflects the opinion of the author. Before you make a decision, analyze the market situation.