Filecoin (FIL-USD) is a decentralized storage system for the world’s important data. The major difference between Filecoin and other storage services is that it is peer-to-peer and managed by the individuals on the platform rather than a central body. On Filecoin, users pay for data storage and distribution services to providers (other users) using the $FIL token.
Despite its unique use case, Filecoin has performed poorly in the market this year and has been down by more than 21% in the last month. Furthermore, its trading volume and circulating supply have fallen 23% and 0.09%, respectively.
With the possibility of another bull run on the horizon, now may be the perfect time to get rid of Filecoin in favor of more promising altcoins if you own it.