Filecoin (FIL) is a cryptocurrency that powers the Filecoin network, a decentralized peer-to-peer file storage network that aims to allow anyone to store, retrieve, and host digital information. FIL tokens are used as payment for these services as well as a financial incentive to guarantee that files are consistently stored over time.
As a proof-of-work token, FIL allows the Filecoin community to mine and receive additional coins as payment. Additionally, FIL can be used on the Filecoin network, where users can pay miners to store or retrieve their data. In the event that there are no or insufficient proofs, the token may also be used as collateral.
Filecoin (FIL) Price Analysis
Filecoin’s price today is $2.93, with a market capitalization of $1B and a 24-hour trading volume down by 4.62%. Now it stands at $127 million. At the same time, the circulating supply is approximately 344,966,605 FIL.
Source: Coinmarketcap
Despite the negative market trends, the technical analysis of the
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