Filecoin (FIL) Metrics
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Filecoin (FIL)
What is Filecoin?
Filecoin (FIL) is a decentralized storage network launched in 2020 by Protocol Labs. It was created to provide a peer-to-peer digital storage marketplace, allowing users to rent out unused storage space and earn FIL tokens in return. The project operates on its own blockchain, utilizing a proof-of-replication and proof-of-spacetime consensus mechanism to ensure data integrity and reliability. Filecoin's native token, FIL, serves multiple roles within the network, including payments for storage services, collateral for storage providers, and incentives for maintaining the network's security and efficiency. Filecoin stands out for its decentralized approach to data storage, aiming to disrupt traditional cloud storage by offering a more secure, efficient, and cost-effective alternative. This innovation positions Filecoin as a significant player in the blockchain and decentralized storage ecosystems.
When and how did Filecoin start?
Filecoin originated in July 2014 when Juan Benet, the founder of Protocol Labs, released its whitepaper. The project aimed to create a decentralized storage network utilizing blockchain technology. Filecoin's testnet launched in December 2019, allowing developers and early adopters to experiment with the network and provide feedback. The mainnet officially launched on October 15, 2020, marking the project's transition to full public availability. Filecoin's initial distribution was conducted through an Initial Coin Offering (ICO) in 2017, which raised approximately $257 million, making it one of the largest ICOs at the time. The funds were used to develop the network and expand its ecosystem. These foundational steps set the stage for Filecoin's growth and the development of its decentralized storage solutions.
What’s coming up for Filecoin?
According to official updates, Filecoin is preparing for several key developments in its ecosystem. One major upcoming milestone is the launch of the Filecoin Virtual Machine (FVM), which is scheduled for release in the near term. The FVM aims to enhance the network's programmability by enabling smart contracts and decentralized applications, thereby improving scalability and user experience. Additionally, Filecoin is focusing on expanding its ecosystem through partnerships and integrations with other blockchain projects, targeting increased interoperability and network utility. These initiatives are designed to bolster the network's capabilities and attract more developers and users to the platform. Progress and updates on these developments can be tracked through Filecoin's official channels and repositories.
What makes Filecoin stand out?
Filecoin stands out through its unique decentralized storage network, which leverages blockchain technology to create a marketplace for data storage. This architecture enables users to rent out unused storage space, fostering a distributed and efficient data storage solution. Filecoin’s use of a proof-of-replication and proof-of-spacetime consensus mechanism ensures data integrity and security, while also incentivizing participants to contribute storage resources. The platform's design supports interoperability with other blockchain networks, enhancing its utility in the decentralized ecosystem. Filecoin's ecosystem is bolstered by partnerships with various technology companies and projects, which expand its reach and use cases. Additionally, its open-source nature and active developer community contribute to continuous innovation and improvement, ensuring Filecoin remains a relevant and robust solution in the data storage landscape.
What can you do with Filecoin?
Filecoin (FIL) is used primarily as a utility token within its decentralized storage network. Users can utilize FIL to pay for data storage and retrieval services, making it integral to the network's functionality. Storage providers earn FIL by offering storage capacity and maintaining data integrity. The token also serves as collateral for storage providers, ensuring they fulfill their commitments. Holders of FIL can participate in governance by voting on proposals that influence the network's development and policies. Developers leverage Filecoin to build decentralized applications (dApps) that require reliable and decentralized data storage solutions. The ecosystem supports various wallets and tools that facilitate interactions with the Filecoin network, enabling seamless transactions and integration for both users and developers.
Is Filecoin still active or relevant?
Filecoin remains active with ongoing development and recent updates. As of 2023, the project continues to release new versions and enhancements, focusing on improving network efficiency and storage capabilities. Filecoin is listed on major exchanges, maintaining significant trading volume, which underscores its active market presence. The project is involved in notable partnerships and integrations, which enhance its utility within the decentralized storage sector. Filecoin's governance is also active, with regular proposals and community engagement, ensuring the network evolves in line with user needs and technological advancements. These factors collectively affirm Filecoin's continued relevance in the blockchain and decentralized storage ecosystem.
Who is Filecoin designed for?
Filecoin is designed primarily for developers and enterprises seeking decentralized storage solutions. It enables them to store, retrieve, and manage data securely and efficiently on a decentralized network. Filecoin provides tools and resources such as APIs and SDKs to facilitate integration and development, allowing users to leverage its storage capabilities within their applications and services. Secondary participants, including storage providers and miners, play a crucial role in the ecosystem by offering their storage resources and maintaining the network's integrity. These participants engage through the Filecoin marketplace, where they can offer and price storage services, contributing to the network's decentralized nature and overall resilience. This structure allows a wide range of users to benefit from Filecoin's secure and distributed storage network.
How is Filecoin secured?
Filecoin employs a unique consensus mechanism called Proof-of-Replication (PoRep) combined with Proof-of-Spacetime (PoSt) to secure its network. Miners in the Filecoin network are responsible for storing data and proving the data's integrity over time. PoRep ensures that miners have physically stored the data, while PoSt verifies that the data remains stored over time. This approach leverages cryptographic proofs to maintain data authenticity and availability. The network uses cryptographic primitives like zk-SNARKs to ensure these proofs are verifiable without revealing the data itself. Miners are incentivized through block rewards and transaction fees, aligning their interests with the network's integrity. The system also includes penalties for failing to provide the necessary proofs, which discourages malicious behavior and ensures reliability. Filecoin's security is further enhanced through regular audits, a robust bug bounty program, and a diverse client ecosystem, all of which contribute to its resilience and trustworthiness as a decentralized storage network.
Has Filecoin faced any controversy or risks?
Filecoin has faced some controversies and risks primarily related to technical and regulatory factors. In October 2020, shortly after its mainnet launch, Filecoin encountered technical challenges when miners protested against the economic model, which they claimed was unfair and made mining unprofitable. The Filecoin team addressed this by adjusting the mining reward distribution to better support miners. Additionally, Filecoin has faced scrutiny regarding regulatory compliance, particularly in jurisdictions with stringent regulations on digital assets. The project has responded by engaging with legal experts to ensure compliance with relevant laws. Filecoin, like many blockchain projects, continues to face ongoing risks, including market volatility, regulatory changes, and potential technical vulnerabilities. To mitigate these risks, the Filecoin team employs rigorous development practices, transparency in governance, and regular security audits. They also encourage community participation through bug bounty programs to identify and address vulnerabilities proactively.
Filecoin (FIL) FAQ – Key Metrics & Market Insights
Where can I buy Filecoin (FIL)?
Filecoin (FIL) is widely available on centralized cryptocurrency exchanges. The most active platform is Binance Futures, where the FIL/USDT trading pair recorded a 24-hour volume of over $70 313 747.88. Other exchanges include Binance and WhiteBIT.
What's the current daily trading volume of Filecoin?
As of the last 24 hours, Filecoin's trading volume stands at $80,963,523.61 , showing a 13.44% decline compared to the previous day. This suggests a short-term reduction in trading activity.
What's Filecoin's price range history?
All-Time High (ATH): $236.97
All-Time Low (ATL): $0.786027
Filecoin is currently trading ~99.61% below its ATH
.
What's Filecoin's current market capitalization?
Filecoin's market cap is approximately $715 878 240.00, ranking it #87 globally by market size. This figure is calculated based on its circulating supply of 772 878 792 FIL tokens.
How is Filecoin performing compared to the broader crypto market?
Over the past 7 days, Filecoin has gained 2.97%, outperforming the overall crypto market which posted a 1.87% gain. This indicates strong performance in FIL's price action relative to the broader market momentum.
Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment.
All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions.
Coinpaprika is not liable for any losses resulting from the use of this information.
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Filecoin Basics
| Whitepaper | Open |
|---|
| Development status | On-going development |
|---|---|
| Org. Structure | Centralized |
| Open Source | Yes |
| Consensus Mechanism | Not mineable |
| Algorithm | None |
| Tags |
|
|---|
| Blog | filecoin.io |
|---|---|
| facebook.com | |
| Faq | filecoin.io |
| reddit.com |
Similar Coins
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Filecoin Exchanges
Filecoin Markets
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
How to use it?
By default Market depth is showing the most liquid markets sorted by Combined Orders (which is a sum of buy and sell orders). This way it provides the most interesting information already. Left (green) side of the market depth bar is showing how many buy orders are open, and right (red) side of the bar is showing how many sell orders are open (both can be recalculated to BTC, ETH or any fiat we have available on the site).


Confidence
Due to rampant malicious practices in the crypto exchanges environment, we have introduced in 2019 and 2020 new ways of evaluating exchanges and one of them is - Confidence. Because it's a new metric - it's essential to know how it works.
Confidence is weighted based on 3 principles:
Based on the liquidity from order books (75%) - including overall liquidity and market depth/volume ratio, volumes included, if exchange is low volume (below 2M USD volume 24h)
Based on web traffic (20%) - using Alexa rank as a main indicator of site popularity
Based on regulation (5%) - researching and evaluating licensing for exchange - by respective institutions
Adding all of these subscores give overall main result - Confidence
Confidence is mainly based on liquidity, because it's the most important aspect of cryptocurrency exchanges. Without liquidity there is no trading, illiquid markets tend to collapse in the long term. Besides liquidity - there is also an additional factor in calculation of score - market depth/volume ratio. If volume is huge (especially when it’s growing much faster than liquidity), and market depth seems to not keep pace with - it's reducing overall score. Exchanges that keep market makers liquidity with expanding volume are those that keep all ratios in-tact and have overall score above 75-80% (it means that they have all liquidity ratios above minimum requirements, high web traffic participation, and are often regulated).
Other coins worth interest - similar to Filecoin
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 21 | Monero XMR | $6 540 165 467 | $354.54 | $156 360 846 | 18,446,744 | |||
| 25 | Canton Network CC | $5 459 046 311 | $0.156411 | $12 542 770 | 34,901,891,555 | |||
| 27 | Zcash ZEC | $5 133 079 154 | $314.37 | $365 267 812 | 16,328,269 | |||
| 31 | Litecoin LTC | $4 157 098 919 | $55.02 | $217 851 174 | 75,558,487 | |||
| 79 | Worldcoin WLD | $869 561 008 | $0.264617 | $60 076 915 | 3,286,112,332 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 226 | Golem GLM | $132 334 492 | $0.132334 | $2 766 029 | 1,000,000,000 | |||
| 283 | Quantum Resistant Ledger QRL | $93 700 746 | $1.38 | $108 539 | 67,937,170 | |||
| 312 | Holo HOT | $76 079 652 | $0.000428 | $3 105 671 | 177,619,433,541 | |||
| 349 | aelf ELF | $65 093 674 | $0.079436 | $1 024 342 | 819,443,119 | |||
| 398 | Siacoin SC | $54 220 007 | $0.000968 | $4 114 704 | 56,025,636,522 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 149 | DoubleZero 2Z | $285 309 825 | $0.082188 | $1 679 101 | 3,471,417,500 | |||
| 218 | THORChain RUNE | $143 557 203 | $0.423726 | $2 984 443 | 338,797,570 | |||
| 472 | Perle PRL | $39 628 283 | $0.226447 | $10 168 896 | 175,000,000 | |||
| 477 | Naoris Protocol NAORIS | $38 941 287 | $0.064982 | $3 650 215 | 599,260,000 | |||
| 504 | Espresso ESP | $35 622 668 | $0.068433 | $2 158 405 | 520,550,000 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 6 | USDC USDC | $78 317 899 046 | $0.999920 | $19 712 357 272 | 78,324,140,426 | |||
| 22 | Chainlink LINK | $5 859 519 652 | $9.35 | $348 838 229 | 626,849,970 | |||
| 24 | Binance Bitcoin BTCB | $5 544 696 334 | $75 842.54 | $61 653 799 | 73,108 | |||
| 30 | MemeCore M | $4 550 842 870 | $3.52 | $15 766 094 | 1,292,580,842 | |||
| 36 | Shiba Inu SHIB | $3 557 451 909 | $0.000006 | $72 529 243 | 589,264,883,286,605 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 22 | Chainlink LINK | $5 859 519 652 | $9.35 | $348 838 229 | 626,849,970 | |||
| 45 | Uniswap UNI | $1 957 648 931 | $3.26 | $155 471 755 | 600,425,074 | |||
| 104 | TrueUSD TUSD | $494 839 259 | $0.998462 | $13 784 913 | 495,601,553 | |||
| 132 | APENFT NFT | $334 056 008 | $0.000000 | $14 882 884 | 999,990,000,000,000 | |||
| 273 | Synthetix Network SNX | $99 752 032 | $0.293850 | $11 682 138 | 339,466,216 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin BTC | $1 518 023 287 213 | $75 830.03 | $39 377 601 703 | 20,018,762 | |||
| 2 | Ethereum ETH | $278 695 608 100 | $2 314.24 | $17 395 872 673 | 120,426,316 | |||
| 5 | BNB BNB | $87 861 790 212 | $631.26 | $785 024 439 | 139,184,442 | |||
| 7 | Solana SOL | $49 317 730 105 | $85.70 | $5 758 428 373 | 575,499,276 | |||
| 8 | TRON TRX | $28 381 227 525 | $0.328626 | $574 768 320 | 86,363,298,503 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 72 | Render RENDER | $927 857 419 | $1.79 | $43 132 568 | 517,690,747 | |||
| 136 | BitTorrent BTT | $320 176 492 | $0.000000 | $7 872 287 | 987,037,885,840,675 | |||
| 159 | IOTA IOTA | $253 565 160 | $0.058805 | $4 972 272 | 4,311,998,937 | |||
| 166 | The Graph GRT | $237 345 657 | $0.024857 | $15 201 584 | 9,548,531,509 | |||
| 170 | THETA THETA | $221 890 548 | $0.221891 | $31 940 126 | 1,000,000,000 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 7 | Solana SOL | $49 317 730 105 | $85.70 | $5 758 428 373 | 575,499,276 | |||
| 8 | TRON TRX | $28 381 227 525 | $0.328626 | $574 768 320 | 86,363,298,503 | |||
| 14 | Cardano ADA | $9 604 002 293 | $0.248945 | $399 049 123 | 38,578,821,458 | |||
| 37 | Toncoin TON | $3 400 516 967 | $1.37 | $124 624 879 | 2,490,191,085 | |||
| 51 | Near Protocol NEAR | $1 616 266 582 | $1.36 | $166 175 096 | 1,185,165,436 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 4 | XRP XRP | $88 100 044 768 | $1.43 | $2 388 338 701 | 61,569,680,267 | |||
| 6 | USDC USDC | $78 317 899 046 | $0.999920 | $19 712 357 272 | 78,324,140,426 | |||
| 7 | Solana SOL | $49 317 730 105 | $85.70 | $5 758 428 373 | 575,499,276 | |||
| 10 | Dogecoin DOGE | $14 233 077 208 | $0.095429 | $1 094 812 050 | 149,147,696,384 | |||
| 14 | Cardano ADA | $9 604 002 293 | $0.248945 | $399 049 123 | 38,578,821,458 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 14 | Cardano ADA | $9 604 002 293 | $0.248945 | $399 049 123 | 38,578,821,458 | |||
| 32 | Avalanche AVAX | $3 955 593 216 | $9.37 | $378 205 694 | 422,275,285 | |||
| 34 | Sui SUI | $3 747 734 509 | $0.947980 | $283 556 110 | 3,953,388,932 | |||
| 51 | Near Protocol NEAR | $1 616 266 582 | $1.36 | $166 175 096 | 1,185,165,436 | |||
| 54 | Aave AAVE | $1 436 180 352 | $95.28 | $545 798 880 | 15,073,211 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 2 | Ethereum ETH | $278 695 608 100 | $2 314.24 | $17 395 872 673 | 120,426,316 | |||
| 5 | BNB BNB | $87 861 790 212 | $631.26 | $785 024 439 | 139,184,442 | |||
| 7 | Solana SOL | $49 317 730 105 | $85.70 | $5 758 428 373 | 575,499,276 | |||
| 8 | TRON TRX | $28 381 227 525 | $0.328626 | $574 768 320 | 86,363,298,503 | |||
| 14 | Cardano ADA | $9 604 002 293 | $0.248945 | $399 049 123 | 38,578,821,458 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 8 | TRON TRX | $28 381 227 525 | $0.328626 | $574 768 320 | 86,363,298,503 | |||
| 41 | BitTensor TAO | $2 354 196 547 | $245.29 | $155 036 393 | 9,597,491 | |||
| 56 | Internet Computer ICP | $1 361 876 061 | $2.47 | $25 361 186 | 551,886,012 | |||
| 136 | BitTorrent BTT | $320 176 492 | $0.000000 | $7 872 287 | 987,037,885,840,675 | |||
| 138 | Gnosis GNO | $314 179 810 | $121.32 | $793 566 | 2,589,588 |
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
What is showing Historical Market Depth?
Historical Market Depth is showing the history of liquidity from the markets for a given asset. It’s a measure of combined liquidity from all integrated markets on the coinpaprika’s market depth module.
Filecoin




