Filecoin became the top trading crypto among the top twenty live-traded cryptocurrencies in the past week. With over 80% of gains for the week, FIL is trading as the 14th largest asset in the crypto market, showcasing a bullish pace of growth with over 20% of returns on the last day of March. As traders and investors are welcoming the second quarter of 2021, Filecoin appears to be a lucrative investment for short-term trading and in the long run. Why is Filecoin rising and what can we expect from FIL price in the following weeks and days? How is Filecoin performing in the last seven days?
Filecoin is Rising Rapidly with 20% for the Day and 80% for the Week
Filecoin must be the most bullish crypto among the top 20 assets at the present moment with daily gains scoring 20% and the weekly chart recording over 80% for FIL. The interest of Chinese investors is playing a big role in this increase as Filecoin is among the most popular crypto investments in China, so the crypto is riding the wave of increased demand at this point. Moreover, Filecoin integrated with another prominent blockchain and crypto project, Chainlink. The idea behind this integration is to enable a multitude of bidirectional smart contract functionalities and facilitate several new use cases. Filecoin also enabled better conditions for miners, enabling additional revenue and co-mining with Livepeer miners. The announcement probably pushed the price up in part while Filecoin is scoring 143% in the last two weeks as well.
Filecoin (FIL) Price Analysis for March 2021
- Filecoin is trading at the price of 151$, getting closer to its all-time high of 208$
- The weekly chart is showing nearly 84%
- The lowest weekly price for FIL is set at the value of 86$
- The highest price for the week is 149$ and 151$ as the new weekly high, showing high levels of fluctuations between the lowest and the highest weekly price
Image credits: Cover photo taken from Marga Santoso on Unsplash