Filecoin Price
(FIL)
USD($)
Filecoin (FIL) Live Price Chart
Overview
About
Analysis
FAQ
Filecoin Live Price Data
The live price of Filecoin is $4.94, with a total trading volume of $ 1.53M in the last 24 hours. The price of Filecoin changed by -4.61% in the past day, and its USD value has decreased by -22.62% over the last week. With a circulating supply of 613,442,096 FIL, the market cap of Filecoin is currently 3.02B USD, marking a --% increase today. Filecoin currently ranks #32 in market cap.
How do you feel about Filecoin today?
Note: This data is for reference only.
Filecoin(FIL) Profile
Rank32
BBBExpand 
Website
Documentation
Explorer
Contract
- BNB Smart Chain (BEP20) 0x0d8ce2...153
- HECO 0xae3a76...810
Audited By
- https://drive.google.com/file/d/1pJnvxlz4ie9oB4NyzPRsTfs0QgYWaDdW/view
Code & Community
Investors
- Genblock Capital
- FBG Capital
- Blockchange Ventures
- Placeholder
- Consensus Labs
- Waterdrip
- Mint Ventures
$4.85
$5.48
- ATH
- $237.1
- Price Change (1h)
- +0.64%
- Price Change (24h)
- -4.61%
- Price Change (7d)
- -22.62%
- Market Cap
- $3.02B
- 24h Volume
- $1.53M
- Circulating Supply
- 613,442,096
- Max Supply
- 2B
About FIL
How can I buy Filecoin (FIL)?
Buying FIL on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy Filecoin (FIL) for more information. What is Filecoin (FIL)?
Filecoin is an open-source, decentralized, cloud-based storage network powered by blockchain technology. It gives its users the power to store their important information on the cloud in a highly secure, encrypted, and distributed manner.
The dynamic and distributed cloud network makes data storage far more cost-effective and secure than existing centralized storage providers. In addition, it provides incentives to users who wish to contribute storage resources and host data on their systems by joining the Filecoin network.
FIL is the native digital asset of the Filecoin protocol, used mainly to pay for transactions within the network. Users pay storage providers in FIL when they wish to store their data on the Filecoin network, while those who provide storage resources are offered incentives in FIL crypto.
The Filecoin network has immense potential, providing a decentralized storage solution for dApps, websites, digital content, enterprise data, private data of individual users, public datasets, and more. The decentralized cloud infrastructure of Filecoin allows users to access cloud services at highly competitive pricing powered by cryptography and immutability thanks to the underlying blockchain technology.
History of Filecoin and FIL Coin
The team behind Filecoin, Protocol Labs, was founded by Juan Benet in 2014 as a company focused on research, development and deployment lab for network protocols. The InterPlanetary File System (IPFS) protocol release took place in 2015, conceived as a peer-to-peer network for sharing files.
Filecoin’s token sale took place in 2017, raising over $205 million from more than 2,100 private and public investors. The public sale on CoinList alone raised more than $153 million in funds, while the private token sale contributed around $52 million of funding.
Prominent investors who participated in the initial coin offering round include Digital Currency Group, Boost VC, and Y Combinator. At the time of the token sale, Filecoin offered a financial instrument called the Simple Agreement for Future Tokens (SAFT). The FIL tokens were distributed to the participants following the Filecoin mainnet launch on 15 October 2020.
2021 was a phenomenal year for Filecoin when the developers launched the zk-SNARK zero-knowledge proofs for securing the network. The Filecoin Virtual Machine (FVM) was also launched in the year, bringing EVM-compatible smart contract functionality to the Filecoin network.
How Does Filecoin Work?
Filecoin utilizes the InterPlanetary File System (IPFS) protocol for peer-to-peer (P2P) data storage and sharing with a unique economic incentive system. IPFS assigns unique addresses to each file within the global network of the Filecoin ecosystem.
There are three kinds of participants within the Filecoin ecosystem:
Storage Miners
These network participants provide storage resources to the Filecoin blockchain in exchange for rewards in FIL coins. They store data on their resources and earn FIL once their services have been verified and confirmed.
Recovery Miners
Recovery miners manage the data that users request. They do not provide storage resources or need to be verified. Their key responsibility is to access and provide the data requested by customers.
Customers
Customers use Filecoin’s infrastructure to store and access data in a decentralized manner utilizing the network’s resources. They can negotiate payment with miners in the storage provider network and select the storage miner based on cost, redundancy, and speed on offer.
Filecoin users and miners enter into contracts on using storage services. After both parties agree to the terms of the agreement, the payment in FIL is blocked in the customer’s wallet.
The miner has to publish proof of storage into the Filecoin network, alerting all of the network's participants of the contract’s start. Any delay in publishing this proof could result in the miner paying penalties.
What Can FIL Crypto Be Used For?
The FIL crypto has several use cases, including:
Native Currency for Payments
Customers use FIL coins to pay for accessing decentralized storage services on the Filecoin network. As an incentive token, the higher the amount of FIL a customer pays, the higher the level of security they enjoy on the data they store.
Rewards for Miners
Miners receive FIL crypto as rewards for providing storage resources and helping store customers’ data in a decentralized manner. In addition, storage miner nodes also receive FIL coins as rewards for mining blocks within the Filecoin blockchain.
Crypto Asset to Trade and HODL
Filecoin enjoys considerable attention among crypto traders and investors as one of the largest cryptocurrencies by market cap. You can buy or sell Filecoin, trade it against other cryptocurrencies, or hold it long-term if you believe in the future potential of Filecoin as a project. Ensure you review the latest Filecoin price, FIL market cap, 24-hour trading volume, and news before you trade FIL.
Earn Passive Income
Investing in and holding Filecoin is also a great way to generate passive income. KuCoin offers the Crypto Lending feature to let you lend liquidity in FIL and earn attractive daily interest over seven days, 14 days, or 28 days. It provides a risk-free way to grow your FIL holdings and earn passive income.
Filecoin (FIL) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $-0.2687 | -5.17% |
| 7 Days | $-1.45 | -22.78% |
| 30 Days | $0.4438 | 9.89% |
| 3 Months | $1.11 | 29.15% |
24H Investment Barometer
24H
- Buy
- The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
Strong SellSellNeutralBuyStrong Buy
Filecoin Conversion Rate
FAQ
How much is 1 Filecoin (FIL) worth?
KuCoin provides real-time USD price updates for Filecoin (FIL). Filecoin price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time FIL to USD exchange rates. Is Filecoin (FIL) Crypto a Good Investment?
Unlike many other cryptocurrencies in the market, Filecoin’s strength lies in its unique use case. Aiming to take on established cloud providers like Amazon Web Services and Google Drive, Filecoin’s decentralized cloud storage is a potentially disruptive project with a valid mainstream use case.
This is one of the critical reasons for making the FIL crypto an excellent investment in your portfolio. The rising adoption of Filecoin’s technology by customers could power a strong uptrend in the Filecoin price in the future.
The decentralized storage and content space could experience explosive growth as the Web 3.0 movement gains more traction worldwide. An uptick in Web3 innovation could further spur the Filecoin price and make it a valuable digital asset to buy.
In addition, positive sentiment in the overall cryptocurrency market could also support the Filecoin price statistics in the future. Whenever leading cryptos like Bitcoin and Ethereum trade upwards, investor confidence is boosted, and more traders buy altcoins like FIL to diversify their portfolios.
Are Filecoin and IPFS the Same Thing?
Filecoin and IPFS are two distinct yet complementary protocols developed by Protocol Labs. While Filecoin works as an incentive layer, the IPFS protocol is responsible for addressing and moving content on the decentralized network.
IPFS supports peer-to-peer data storage and sharing after verification. On the other hand, Filecoin aims to provide persistent data storage services coupled with incentives to reward the process.
Although the terms Filecoin and IPFS are used interchangeably often, they exist and can operate independently of each other. The IPFS network provides a way for P2P file sharing and data access. At the same time, Filecoin offers the incentives and the proofs to verify the data and provide cryptographic security.
How to Store Files on Filecoin
Follow the steps given below to use Filecoin’s decentralized storage service and store your data on the network:
- Download a dApp that allows you to use Filecoin’s infrastructure for decentralized file storage. Supported applications include ChainSafe Files, Estuary, Space Storage, and Web3.Storage.
- You can also use the Filecoin node client Lotus to store files on Filecoin. Download and install Lotus to start using this service.
- Other services include Starling, which uses Lotus for digital preservation and archiving, and File.video and Voodfy for decentralized video hosting on Filecoin.
- Other storage solutions you can use for data storage on the Filecoin ecosystem include Fleed, Pinata, Powergate, and Textile Buckets.
What is the all-time high price of Filecoin (FIL)?
The all-time high price of Filecoin (FIL) is $237.2400. The current price of FIL is down 97.92% from its all-time high.
What is the all-time low price of Filecoin (FIL)?
The all-time low price of Filecoin (FIL) is $1.8200. The current price of FIL is up 170.25% from its all-time low.
How much Filecoin (FIL) is there in circulation?
As of 12 22, 2024, there is currently 613,442,096 FIL in circulation. FIL has a maximum supply of 2B.
What is the market cap of Filecoin (FIL)?
The current market cap of FIL is $3.02B. It is calculated by multiplying the current supply of FIL by its real-time market price of $3.02B.
How do I store Filecoin (FIL)?
You can securely store your Filecoin in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your FIL include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
How do I convert Filecoin (FIL) to cash?
You can instantly exchange your Filecoin (FIL) for cash using KuCoin's Fast Trade feature. This feature enables you to convert FIL to your local fiat currency in just a few clicks. However, make sure to complete Identity Verification first to enjoy all the features you may need.