📡 NEWS 📈
Solana Network aims to use Filecoin's decentralized storage capabilities to achieve data redundancy, scalability, and improve the overall security of its web ecosystem.
FIL price is on the cusp of a major bullish rally supported by a weekly inverse head and shoulders pattern and a bullish divergence on the RSI indicator.
#Fil , a prominent decentralized cloud data storage system, has ushered in a significant bullish trend over the past three weeks. Following a prolonged bear market period since mid-2021, FIL price has shown a consistent close above its 50-day moving average, suggesting control by buyers.
This mid-cap altcoin, with a total market cap of around $14 billion and an average daily trading volume of around $959 million, appears to be on track to set new macro highs and lows.
The Filecoin network has experienced significant growth, establishing itself as a mature decentralized storage ecosystem that promises to drive the adoption of web3 protocols. Additionally, DeFi developers can now focus on delivering high-quality products by leveraging Filecoin's decentralized storage at a reduced cost. The Filecoin network announced this week a strategic integration with the Solana (SOL) ecosystem. With this integration, Solana now uses Filecoin's decentralized cloud data storage to make its block history more accessible and usable for web3 developers.
The integration of the Solana ecosystem into the Filecoin network significantly boosts the latter amid the wide adoption of web3 protocols. Solana is a leader in smart contracts, with more than 1.900 million dollars in Total Value Locked (TVL) 2 billion 🚀
