Filecoin price rose more than 9% in 24 hours and 27% in the week! Filecoin still needs to work hard!
The figure below compares Filecoin's price movement and volatility in the past 24 hours (left) with the price movement in the past week (right). The gray band is the Bollinger Band, which is used to measure the volatility of daily and weekly price movements. The wider the Bollinger Band, or the larger the gray area at any given moment, the greater the volatility.
Over the past week, the token's trading volume fell by 14.0%, while the circulating supply rose by 0.41%. This brings the circulating supply to 580.51 million, accounting for 29.62% of its maximum supply of 1.96 billion. According to our data, FIL currently ranks 42nd in market capitalization with a market capitalization of US$2.2 billion
• Market recovery: With the influence of macro factors such as global monetary policy adjustments and the reconstruction of confidence in the crypto market, the overall cryptocurrency market is expected to usher in a recovery. By then, high-quality projects like FIL are expected to benefit from the "rising tide lifts all boats" and get out of the trough.
• Competitive landscape: Competition in the storage field is fierce. FIL coins need to accelerate technological innovation and ecological expansion to stand out in the race with differentiated advantages. If they can show obvious advantages in performance, cost, security, etc., they will have the opportunity to gain a larger market share and development space.
