Filecoin Price Prediction 2023-2032
- Filecoin Price Prediction 2023 – up to $9.15
- Filecoin Price Prediction 2026 – up to $26.50
- Filecoin Price Prediction 2029 – up to $81.93
- Filecoin Price Prediction 2032 – up to $253.62
Filecoin is the blockchain project that incentivizes regular people to rent out their digital storage space – solving the issue of scarcity, and addressing the power imbalance between individuals and global server behemoths, in one fell swoop.
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Amid the current rebound by most cryptocurrencies like Ethereum Classic, Filecoin (FIL) has become an attractive investment opportunity for most investors, especially since its current price is affordable. Let’s shine a light through crypto winter with this Filecoin Price Prediction.
We have produced several other cryptocurrency price predictions, including Cardano price prediction to help investors and traders understand the cryptocurrency market outlook, and here is a price forecast of Filecoin to help traders, as well as investors looking to buy it. Background information will also help you to understand what to expect in future Filecoin price movements.
Filecoin has 33 investors including Leon Hillmann and Lombard street Ventures
How much is FIL worth?
Today’s Filecoin price is $5.60 with a 24-hour trading volume of $846,074,272. Filecoin is down 17.20% in the last 24 hours. The current CoinMarketCap ranking is #28, with a live market cap of $2,268,500,668. It has a circulating supply of 405,269,363 FIL coins and the max. supply is not available.
Here is Juan Benet’s plan for FIL:
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What is Filecoin (FIL)?
FIL cryptocurrency is the native cryptocurrency of the Filecoin blockchain. Filecoin (FIL) facilitates data storage, on-exchange token trading, and file retrieval within the Filecoin blockchain ecosystem. Filecoin does not have a total maximum supply since miners actively add new coins into the market every time.
For example, in the fall of 2020, 3.5 million FIL tokens were released to the Filecoin miners who participated in the so-called “Space Race” testnet phase that intended to increase the capacity of data handled by the Filecoin network by about 325 pebibytes.
What is the Filecoin blockchain?
Filecoin blockchain is an open-source distributed cloud (off-site) storage platform where participants can store important information. The project was first conceptualized in 2014 as a peer-to-peer file storage network, an Interplanetary File System (IPFS)
The project’s main net was launched in October 2020 after conducting an Initial Coin Offering that raised $205 million in 2017. The Filecoin blockchain records information sent to it by its participants, and the records can be retrieved in the future but cannot be erased since they become part of the blockchain network.
The blockchain uses the proof-of-spacetime and the proof-of-replication consensus mechanism in validating new blocks. The proof-of-replication helps ensure that the same data is not replicated in the network, while the proof-of-spacetime allows the storage of information for a given amount of time.
Filecoin mining
The Filecoin ecosystem has two types of miners; retrieval miners and storage miners.
- The retrieval miner nodes in the Filecoin blockchain network compete to serve users (clients) with any requested data as quickly as possible. In a nutshell, they retrieve the stored information and avail it to any person who demands to view the data.
- In exchange for retrieving the stored information, the retrieval miners are rewarded with FIL coins as fees. This reward encourages more nodes to want to participate in the mining.
- On the other hand, the storage miners provide storage space to users for up to a specific time. Therefore, they are in constant competition for land contracts to offer storage to people needing storage space.
- Once a storage miner strikes a deal with a user to offer storage space, the miner holds the client’s data and seals it. In exchange for providing clients with storage space for their information, the storage miners are rewarded with FIL fees.
- The storage miners are the ones responsible for mining new Filecoin blocks. And they, in return, earn block rewards for mining the new blocks.
How does the Filecoin network work?
Unlike centralized cloud storage solutions like Cloudflare or Amazon (companies with central command centers), Filecoin offers decentralized cloud storage. Therefore, data or information stored in the Filecoin blockchain is more easily retrievable and, at the same time, hard to censor.
By being decentralized, Filecoin allows participants to be the custodians of their data, and it is easily accessible to anyone who can access the internet throughout the world.
Who is Filecoin’s founder?
The Filecoin network was founded by Juan Benet, an American computer scientist responsible for creating the Interplanetary File System (IPFS). Benet is also the founder of Protocol Labs, which he founded in 2014.
Filecoin FIL Price History
Filecoin (FIL) started trading in 2017 December 2017, a short period after conducting its ICO. The trading started long before the Filecoin mainnet was released.
Between December 2017 and May 2020, FIL traded below $30. Then, starting mid-May, the Filecoin price started rising, and the bull trend continued until 01st April 2021, when it hit its highest price of $237.24.
Filecoin price history and market cap chart by Coin Market Cap
After hitting its all-time high in mid-May 2021, Filecoin took a bearish turn, which continued until mid-July when the market turned bullish again. It is important to note that the Filecoin price remained above its beginning price even during the past bearish trend.
How to buy Filecoin
Filecoin is available to buy on Binance, Coinbase, Huobi Global, and many more reputable exchanges. Also, most exchanges let you swap between cryptocurrencies free of charge, making it easy to trade cryptocurrencies quickly.
- Create an account with your chosen exchange. You’ll need to enter your email and create a password. You should also set up 2-factor authentication to improve your account’s security. Depending on where you live, you may need to complete identity verification before you can begin trading crypto. Some information to have ready includes your Social Security number, driver’s license, and home address.
- Buy a wallet (optional). No matter which trading platform you choose, you shouldn’t store your crypto on an exchange. Cryptocurrency exchanges hold custody of their investors’ funds, making them large targets for cryptocurrency hackers. Many cryptocurrency trading platforms have been hacked in the past, presenting a real risk to crypto investors.
When you want to sell your Filecoin, you’ll need to send your coins from your cryptocurrency wallet to your exchange of choice. As long as your bank account is connected to your crypto exchange, you’ll be able to transfer your funds to and from your bank as you choose.
Where to Store Filecoin
Here are some wallets with FIL support that you might consider:
Filecoin New Developments
Filecoin officially announced the launch of its Virtual Machine on its mainnet. It is essential to know that Filecoin’s Virtual Machine will offer a way for developers to create Dapps efficiently.
Filecoin Technical Analysis
The FIL coin currently shows slight signs of bullish momentum in its 1D chart. However, the cryptocurrency is above its 50-day and 100-day Moving Averages. Also, the coin’s Fear & Greed index shows 50 (Neutral). Filecoin has recorded 11/30 (37%) green days with 16.43% price volatility over the last 30 days.
It is essential to know that Filecoin trades above the 200-day simple moving average (SMA). The 200-day SMA has been signaling BUY for the last three days since Mar 12, 2023.
The coin’s RSI value is 56.01, indicating that the FIL market is neutral. Therefore, according to our technical analysis, now is an excellent time to buy FIL.
Filecoin Price Predictions by Cryptopolitan
Filecoin Price Prediction 2023
According to our Filecoin price prediction for 2023, FIL is estimated to trade at a minimum price of $7.58 and an average price of $7.87. However, it is essential to know that Filecoin is expected to surge higher up to a maximum price of $9.15 per FIL token.
Filecoin Price Prediction 2024
Our Filecoin price prediction for 2024 is that FIL will trade at a minimum price of $11.01 and an average of $11.33. A maximum forecast price of $13.47 is expected.
Filecoin Price Prediction 2025
According to the Filecoin price prediction for 2025, FIL is estimated to trade at a minimum price of $15.11 and an average price of $15.68. FIL is expected to surge to a maximum price of $19.05 per token.
Filecoin Price Prediction 2026
Our Filecoin price prediction suggests in 2026, the price of FIL is expected to reach a minimum level of $21.78. The FIL price can reach a maximum level of $26.50 with an average trading price of $22.50.
Filecoin Price Prediction 2027
Based on our FIL price prediction for 2027, FIL is expected to potentially attain a maximum trading price of $39.14, with an average value of $34.42. Additionally, FIL’s price is likely to trade at $33.29, the lowest expected price.
Filecoin Price Prediction 2028
The Filecoin price forecast for 2028 is a minimum level of $47.19. The FIL price could reach a maximum value of $58.13 with an average trading price of $48.57.
Filecoin Price Prediction 2029
According to the Filecoin price prediction for 2029, an average prediction of $71.95 is expected, and the maximum FIL price can be as high as $81.93 per token by 2029. The minimum price FIL is estimated to be around $70.01.
Filecoin Price Prediction 2030
The Filecoin price prediction for 2030 is that the FIL coin will trade at a minimum price of $103.00 and an average trading value of $106.60 per token. The maximum FIL price prediction suggests that FIL can reach as high as $123.04 by the end of the year.
Filecoin Price Prediction 2031
Our Filecoin price prediction suggests that by 2031 FIL can potentially reach a maximum trading price of $179.09 with an average FIL value of $150.43. The minimum FIL price is expected to be around $146.17.
Filecoin Price Prediction 2032
Our Filecoin price prediction for 2032 is a maximum of $253.62. However, we can expect the FIL price to reach an average forecast price of $218.61, with a minimum price of $212.59 by then.
Filecoin Price Prediction by Wallet Investor
Wallet Investor predicts that Filecoin is a good long-term investment. According to them, Filecoin is expected to reach a maximum price of $7.397 in one year. In five years, they predict that the coin will reach a price mark of $7.648.
Filecoin Price Prediction by CryptoPredictions
According to CryptoPredictions, Filecoin is expected to have a maximum price of $9.834 by 2023. By then, they predict that the coin will have an average and minimum price of $7.867 and $6.687.
By 2024, CryptoPredictions predict that Filecoin will have a maximum price of $15.443, with an average price of $12.354. The coin’s lowest price by then is expected to be $10.501.
Furthermore, CryptoPredictions expect Filecoin to have a maximum price of $19.117, with an average price of $15.294 by 2025. The coin’s lowest price by then is expected to be $13.
By 2027, the FIL coin is predicted to have a maximum price of $23.92, with an average trading price of $19.14. The lowest trading price of the coin is expected to be $16.27.
Filecoin Price Prediction by Digital Coin Price
Digital Coin Price predicts that Filecoin will reach a maximum price of $13.63, with an average price of $12.70 by 2023. The lowest trading price of the coin is expected to be $5.51.
By 2026, the FIL token is expected to have a maximum price of $28.44, with an average trading price of $26.47. The lowest trading price of the coin is expected to be $23.95.
Digital Coin Price predicts that Filecoin will reach a maximum price of $45.98, with an average trading price of $44.51 by 2029. The lowest trading price of the token by then is expected to be $41.97.
By 2032, the FIL token is predicted to have a maximum price of $120.86. The lowest and average prices of the coin by then are expected to be $116.67 and $120.01, respectively.
Filecoin Price Prediction by Coincodex
According to Coincodex, Filecoin is expected to be worth $3.21 in six months and $7.63 in one year. Again, Coincodex gave a long-term price forecast of Filecoin based on the growth of technological innovations.
According to them, Filecoin will be worth $23.43 by 2026 if it follows Internet growth. They also expect the coin to be worth $50.05, based on Google’s growth, and $22.65, based on mobile growth.
Filecoin Price Prediction by Industry Experts
Despite facing difficult obstacles in the crypto market, FIL has been admired by individual and institutional investors. Discussions and analysis of FIL are still held to this day, making it a popular choice amongst those who have high hopes for the coin’s ability to become a significant player in the crypto world.
Ryan Matta, a YouTube analyst, and an industry expert predicted the coin to move above its all-time high next year and test new resistance levels. He is also bullish on the long-term price of FIL.
Conclusion
Filecoin’s blockchain ecosystem promises to revolutionize the future of Web 3.0, and its native token will play a pivotal role in this process. To date, Filecoin is trading 80% lower than its all-time high, yet it’s expected to surge over time and reach new levels of support and resistance beyond $200. However, the token faces competition from Sia and BitTorrent, so ongoing innovation will be necessary to keep up with the market. With scarcity typically leading to price increases, Filecoin could experience further gains in value in the future. Nonetheless, when considering any investment, it’s essential to ensure minimum requirements are considered, and sufficient research is conducted before making any decisions.
