Filecoin (FIL) Portfolios Stay Red With 18% Weekly Losses
04 Agosto 2024 - 6:30PM
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Filecoin remains beaten up by the current market’s heavy volatility
as it continues pointing downwards. According to the latest market
data, FIL plummeted by 18% since last week, representing a
significant slash in value. Investors remain shaken by the
current market losses of the token. However, several developments
might repair the lost trust in the token, but it remains to be seen
what impact they might have on the future performance of FIL.
Related Reading: Stacks (STX) Drops 23%, But Recent Devs Might Slow
The Trend A Series Of Wins For Filecoin Despite having a bad start
in August, the ecosystem still has aces up its sleeve that might
turn the tide. Yesterday, the X account Cricimiento announced
that they are partnering with the Filecoin Foundation to “help
advance Argentina’s crypto ecosystem” at Aleph, a crypto event in
Argentina that aims to turn the country into the world’s crypto
capital. 🏙️🇦🇷🌞 @FilFoundation is joining forces with
Aleph!@Filecoin decentralized storage ensures secure and efficient
data management using blockchain technology. Catch the team this
August to see how they are helping advance Argentina’s crypto
ecosystem! 🌐 pic.twitter.com/vEAUATRPec — Crecimiento 🔜 Aleph
(@crecimientoar) August 2, 2024 The event will be held this month,
with major crypto institutions supporting the event. This will give
the Filecoin Foundation a chance to enhance the reach of the
organization as the prime provider of decentralized storage within
Web3. Filecoin Station also presented another win for the
platform. Back on August 2, Station announced that a whopping
16,911 participants had participated on the platform in July. This
number only represents addresses that finished a job on the
platform, but it remains significant as it shows active use of
Filecoin’s network. The Station Network reached a new record
16,911 participants* in the network in July 2024. Thanks so much to
everyone who runs a Station as we work to let anyone join and
contribute to Web3. *(defined as unique FIL addresses completing
jobs) pic.twitter.com/jSyri9dMZi — Filecoin Station
(@FilecoinStation) August 2, 2024 With a big emphasis on improving
Filecoin’s ability to store data for Web 3, they also released a
roadmap for Spark, a step-by-step network upgrade that will improve
user and developer experience on the platform. Features like
better data quality, a public grant write-up system, new tools for
the public, and incentives for investors will be rolled out within
this mount. The Spark upgrades will cement Filecoin as a top
provider of decentralized storage. Its entry into the world of AI
last month will also help boost the token’s influence in the AI and
data storage industry. Slowing Bears Might Slow Weekly Losses
Filecoin bulls are still struggling with deflecting the current
market downturn FIL is experiencing. But with the token’s current
support at $3.570, we might see a resurgence within the medium to
long-term. Related Reading: Solana Rebound: SOL To Hit $260
Despite Continuous Dip, Analyst Says The token’s current trajectory
is still troubling. However, if the bulls can defend its current
support level, the token has a chance to retake early July levels–
around $4.394. Stabilizing the token’s price will be the bull’s
consolation price as it gives them a strong support for any upwards
movement. Investors and traders, however, should remain
cautious as the market conditions remain in favor of the strong
downward pressure present within the market. Featured image
from Pexels, chart from TradingView
Grafico Azioni Filecoin (COIN:FILUSD)
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Da Lug 2024 a Ago 2024
Grafico Azioni Filecoin (COIN:FILUSD)
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Da Ago 2023 a Ago 2024