FIL

Filecoin price

FIL
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4.0/5
Certik
4.3
07/12/2024
CyberScope
4.4
07/12/2024
TokenInsight
3.4
02/10/2023
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USD
USD
$4.0960
+0.34%
1h
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Filecoin price live data

The current price of Filecoin is $4.0960. Since 00:00 UTC, Filecoin has increased by +0.34%. It currently has a circulating supply of 570,309,240 FIL and a maximum supply of 1,960,145,737 FIL, giving it a fully diluted market cap of $2.33B. At present, Filecoin holds the 36 position in market cap rankings. The Filecoin/USD price is updated in real-time.

Filecoin price performance in USD

Time periodChange amount%Chg
Today$0.014000 +0.34%
7 days$0.55800 +15.77%
30 days-$1.5130 -26.98%
3 months-$1.6280 -28.45%

Filecoin market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$3.9600
Last price $4.0960
24h high$4.1460
Heat index ranking
16
Market cap ranking
36
Market cap
$2.33B
Favorited rate
Percentage of users who favorited this asset to all users
17.24%
All-time high
$237.82
-98.28% (-$233.72)
Apr 1, 2021 (3 years ago)
All-time low
$2.3310
+75.71% ($1.7650)
Dec 17, 2022 (2 years ago)
ICO date
10/15/2020
ICO price
The price at which this crypto was first traded
$0
Circulating supply
The amount of this crypto that is publicly available in the market
570,309,240 FIL
Market cap at circulating supply
Market cap = Circulating supply × Last price
$8.02B

About Filecoin (FIL)

Filecoin, founded in 2014, is a peer-to-peer (P2P), open-source data storage network that uses blockchain technology to store files reliably and verifiably. Anyone needing to store their files or with storage space to spare can join and participate in the network. Consider it a cold storage, but instead of being owned by a single entity such as Google or Amazon, it is owned by everyone.

Data storage on Filecoin is entirely private; it is fully encrypted and secured, meaning no one, not even your storage provider, can read it. Additionally, Filecoin users do not need to worry about storage space because the network has a capacity of 2.5 billion gigabytes, 40 times the size of the internet.

Filecoin employs Proof of Replication (PoRep) and Proof of Spacetime (PoSt) rather than Proof of Stake (PoS). According to PoRep, miners will be compensated with FIL tokens if they can demonstrate that they received the cryptographically encoded data from the client. On the other hand, PoSt ensures that the data is kept for the time period specified in the client's contract.

Users typically pay with FIL tokens to store their files with storage providers. The price of storage on Filecoin is determined by the network's demand and supply for storage, and anyone can participate. Users are not limited to a small and defined set of storage providers but can store their files with any storage provider offering any deal available on the network. This enables users to store and access their files at extremely low prices.

Filecoin's native cryptocurrency, FIL, serves as a payment medium. Users pay FIL for storage services, and storage providers earn FIL units for staking storage space. The Filecoin blockchain immutably records FIL transactions as well as storage proofs generated by storage providers.

FIL price and tokenomics

Filecoin's ICO was one of the biggest successes in the blockchain industry, raising a total of $205.8 million. With an initial funding goal of $40 million, its initial token price was pegged at $5 when introduced into the market.

It has a maximum supply of 2 billion tokens with a market capitalization of $1.7 billion. In the fall of 2020, Filecoin organized Space Race to increase the network's data capacity by 400 pebibytes. 400 miners participated in the testnet phase and were awarded 3.5 million FIL tokens.

Filecoin is a deflationary asset with a certain amount of FIL burned with every transaction. The fees burned are sent to an irrevocable burn address to compensate for the network expenditure of resources. The idea is based on Ethereum's EIP1559.

About the founders

Juan Benet co-founded Filecoin in 2014 with the California-based company Protocol Labs, of which he is the CEO.

Benet is a Stanford University graduate with a master's degree in computer science. Before Filecoin, he was the co-founder and CTO of Loki Studios, a mobile gaming studio focused on developing location-aware games. He also founded Athena Academy, a non-profit private school in Palo Alto devoted to educating students with dyslexia.

According to official documents, Filecoin secured $205.8 million during one of the industry's largest funding rounds. The project even received backing from venture capitalists Sequoia and Andreessen Horowitz.

Filecoin highlights

First, the popular browser Brave added Filecoin to their wallet, exposing Filecoin to over 56 million Brave users. This integration helped in creating awareness among Brave users about Filecoin.

Second, instead of temporary file storage, Filecoin partnered with Lighthouse to offer their users permanent file storage within the Filecoin ecosystem, coming at a one-time cost. On Filecoin, files are removed if clients stop paying storage fees, so offering permanent file storage is essential for the most important files or irrefutable information, such as NFTs.

Next, the Filecoin Foundation recently donated $10 million worth of Filecoins (50,000 FIL tokens) to the Internet Archive after its founder joined the Filecoin Foundations board of advisors. The donation is aimed at broadening the Internet Archive's reach to help more people across the globe educate themselves.

Finally, Filecoin had a v16 network upgrade, codenamed Skyr, and switched to using the Wasm-based Filecoin Virtual Machine to operate its basic functionality. This upgrade is the first step toward enabling user programmability on Filecoin and is the network's most significant change since its launch almost two years ago.

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FIL FAQ

How to mine FIL?

In the Filecoin network, there are two different forms of mining: storage and retrieval. In storage mining, users generate FIL by storing data for customers and performing cryptographic proofs to continuously verify the data's integrity and ensure that the miner has not altered the data. In retrieval mining, users acquire FIL by winning bids and mining fees for a specific file, which are exclusively based on the file size's market value.

How can I start using Filecoin?

To begin using Filecoin, go to their website and look for a storage provider that meets your requirements. You must know what type of data you intend to store, how long you intend to keep it, and how much you are willing to pay. Filfix, the Filecoin explorer, displays prices, stability, and a variety of other statistics. You can also apply to become one of the 4,000 storage providers here.

Where can I buy FIL?

Easily buy FIL tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include FIL/USDT, FIL/USDC, FIL/BTC, and FIL/ETH.

You can also buy FIL with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.

Alternatively, you can swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for FIL with zero fees and no price slippage by using OKX Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into FIL, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.

How much is Filecoin worth today?
Currently, one Filecoin is worth $4.0960. For answers and insight into Filecoin's price action, you're in the right place. Explore the latest Filecoin charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Filecoin, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Filecoin have been created as well.
FIL calculator
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1 FIL ≈ $4.0960
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149
113.05%
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20
42.53%
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