Filecoin (FIL) is in the spotlight today, while most of its rivals are limiting their gains. According to CoinMarketCap, the price of Filecoin is now $7.57, up 16.49% in the last 24 hours. Filecoin’s unpredictable rise over the last year has been validated by this recent surge, which has brought the growth rate to more than 39% for the month.
https://x.com/aeyakovenko/status/1759672902751019394?s=20
Filecoin has always been innovative, but its recent increase is due to the validation from Anatoly Yakovenko, developer of the Solana system. In a post on X, Yakovenko informed his over 313,600 followers that some of the “original archiver design for Solana was based on some of the proofs from Filecoin’s original white paper.”
He also noted that Filecoin’s technology was so sophisticated that creating a new archive architecture for Solana may have appeared to be a duplication at the time. This validation helps to reposition Filecoin as a prominent decentralised cloud storage system in the field.
Filecoin fills a distinct market niche, which has propelled its recent rise.
Filecoin and broad industry linkup
This remark from Anatoly Yakovenko follows the integration of both protocols, as previously reported by U.Today. Filecoin incorporated Solana to improve access to its data offerings.
Aside from Solana, Filecoin has been working hard to expand its support for many protocols, including the Ethereum blockchain. Last year, Filecoin unveiled its EVM compatibility engine, known as the Filecoin Virtual Machine (FVM), with the goal of enabling developers to construct apps that can connect to the industry’s largest public network.
Filecoin still has a lot of room to develop, as it is still well below its all-time high (ATH) of $237.24. However, the current rise might be the primary catalyst needed to track the expansion.
