Surprisingly, Filecoin (FIL) is leading the cryptocurrency charge today. Its price surged 17.2% to $5.41, one of the highest daily gains the coin has seen in the last month. This increase has strengthened Filecoin’s promising outlook, as the coin has increased by 32.47% during the previous month.
The rise of Filecoin is supported by a number of other important indicators, including as its trading volume. Current data indicates that purchasers are feeling more optimistic about the market, as seen by the 77% increase in trading volume over the previous day to $405,508,100. The increased volume indicates that the FIL revival is supported by genuine market demand, which may be attributed to the protocol’s high liquidity on the individual exchanges where it is listed.
This week is significant for Filecoin despite earlier seeming losses since it will be included at the LabWeek 2023 event. The Filecoin team will present the upcoming innovations here, which will propel the system into the next stage of its development. ZK Proofs, Decentralised Storage, Artificial Intelligence (AI), and blockchain are a few of the anticipated technologies that will be covered.
Filecoin’s foray into novel domains such as AI and ZK Proofs may account for investors’ optimism regarding the protocol and their perception of a promising future.
Building on FVM momentum
One protocol that knows how to change with the times is Filecoin. In an effort to establish a closer connection to the Ethereum ecosystem, the protocol demonstrated this earlier this year when it introduced the Filecoin Virtual Machine (FVM).
It is yet unknown what Filecoin’s first intentions are for AI and ZK Proofs, but given that these two technologies are now the most talked-about topics in the Web3.0 ecosystem, following the trend demonstrates that Filecoin is grounded in reality and that the community is enthusiastic about what lies ahead.
