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Unusual Strength: Filecoin is on the Rise ($FIL)

September 7, 2021

Unusual Strength: Filecoin is on the Rise ($FIL)

Many of our favorite crypto projects enjoyed a substantial price boost over the holiday weekend, including Solana ($SOL), THETA ($THETA), and ChainLink ($LINK). However, there’s another recent gainer that’s gotten our attention as of late: FileCoin ($FIL). Filecoin is the leading blockchain solution for decentralized file storage and sharing. This unique blockchain boasts the same core functionality as existing cloud storage systems like Amazon Web Services (AWS), combined with the data integrity and privacy benefits of a decentralized network. Crypto-specific chatter relating to Filecoin is on the rise but remains below ATHs on a 90-day moving average.

The trend seen in the Mention chart above mirrors that of FIL's price, which rose more than +400% in March before correcting roughly -60% in the following months. FIL isn't the most "meme-worthy" coin and has relatively low total Mention volumes. Still , it's hard not to be optimistic about Filecoin's experienced team and compelling use case.

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