Is Filecoin Ready To Reach New Highs?

The value of the Filecoin (FIL) token commenced surging at 3 a.m. Asian time. As a result, by the morning, it popped 6.4%. In the following hours, it has been plummeting, and now its price is $72.53. According to market stats its trading volume is $1,089,021,690. Furthermore, its market cap rank is equal to #25 amid its market cap is $7,702,911,708. Filecoin (FIL) is a decentralized storage network currency.

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Filecoin’s price has cleared several significant hurdles in the past few days, indicating a new $ 90 attack is on the horizon. Like most of the market, Filecoin’s price is struggling to recover from a fierce onslaught in September. In the second half of the month, the market declined sharply as China put pressure on even further by declaring all cryptocurrency-related activities illegal. The pressure was felt right away: Bitcoin (BTC) dropped below $ 40K, causing altcoins to plummet. Filecoin dropped to $ 50 on the 26th, nearly 60% below the $ 123 high in early September.