Filecoin (FIL) saw a jump of over 29% in value since yesterday to a price of $ 118.59 today and its market value increased over 23% to $ 11.9 billion.
Filecoin is a data or document storage technology, similar to Google Drive and Dropbox but characterized by decentralization.
The positive movement recorded by FIL began on August 31, when the price was $ 70.27. On Friday, the value of this asset rose to $ 78.94, before once again soaring to the $ 96.67 level on Saturday.
Be aware Filecoin is based on IPFS (InterPlanetary File System), a decentralized web hosting service developed by Protocol Labs.
Dumping non-fungible token (NFT) projects have already started publishing their JPEGs on IPFS because of its more decentralized features than regular hosting systems.
In May, Filecoin announced a free service-NFT.Storage offered to NFT creators to store their NFT and any appropriate metadata on Filecoin.
At the time of writing, FIL is trading at $ 115.72. However, the FIL price still has a long way to go to touch the all -time high (ATH), $ 237.71 recorded on April 1st.
