Bulls target $100 Filecoin (FIL) after data points to improving fundamentals
FIL might be more than 70% away from its all-time high, but derivatives data shows traders are steadily building leveraged positions. Some traders have said that Filecoin (FIL) has lost its momentum because its current price at $64 is more than 70% below its all-time high at $238. However, this decentralized data-sharing platform is showing signs of increasing adoption and this could cause the FIL token price to accelerate its current uptrend.FIL token is used to purchase storage space and retrieve data from the Filecoin Network. At the same time, its users gain rewards for selling their....
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Layer one network Polygon continues to expand and solidified its position in the crypto space. Recently, they announced a new partnership with Filecoin, a network that allows users to store and transfer data via a native marketplace. The cooperation launched the Filecoin-Polygon Bridge, to increase their interoperability. Built by the Textile team, the bridge enables users to use any Polygon mainnet to connect with Filecoin’s storage and (…) start storing data on Filecoin from any Polygon address without any conversions, signups, developer tokens, or secrets exchanged. In addition,....
Needham & Company, LLC, an investment banking and asset management firm, just bumped the estimated value of bitcoin from $655 to $848, due to faster than expected adoption and improving fundamentals, according to Money Morning. The new estimate, an analysis of the Bitcoin Investment Trust (BIT), follows Needham’s original bitcoin price prediction in March. Spencer Bogart, the author of the September 22 report, said the revised estimate is based on a faster-than-expected adoption and improving fundamentals. In addition, planned improvements to the bitcoin protocol also bodes well for....
Three years after its $257 million ICO, decentralized data storage provider Filecoin has said mainnet will go live in mid-October.
The Filecoin network is recovering as miners upgrade to a new client after a four-hour network outage. Decentralized storage protocol Filecoin (FIL) came to a standstill on Dec. 19 as a bug caused instability on the network. According to a project status report issued by the Filecoin team: “The Filecoin network is halted with most nodes stuck at height 336459 with mismatched state compute error due to indeterminate behavior.”Based on the timeline given in the status update, it took less than four hours for the Filecoin dev team to fix the problem. As part of the solution, miners had to....
Needham & Company has revised its bitcoin price projection as well as its outlook on the Bitcoin Investment Trust (OTCQX: GBTC). The firm sees improvement in bitcoin’s fundamentals, but not in GBTC, downgrading the firm’s rating from “Buy” to “Hold.” Needham Sees Improved Bitcoin Fundamentals. Needham & Company is the investment banking and asset....