Filecoin (FIL) is the native token of a decentralized storage network that turns unused global storage into a marketplace for data, offering an alternative to traditional cloud services.
FIL is used to pay for storage and retrieval services, while storage providers earn FIL by contributing capacity and proving data integrity.
Price has been weak and bearish, trading around ~$1.08 with significant drawdowns from its 2021 highs near $237, reflecting prolonged market pressure.
Recent minor rebounds are partly driven by oversold technical conditions but lack strong volume confirmation, suggesting limited conviction.
FIL’s outlook depends on storage adoption and broader crypto market sentiment; if decentralized storage demand grows, long-term utility could support higher valuations.
Short-term traders should watch key support and resistance levels for signs of trend reversal or continuation.
FILUSDT
Perp
0.909
-8.36%