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Filecoin Price Prediction 2022-2031: What’s the future for FIL?

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Filecoin Price Prediction 2022-2031

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 had a very productive year in 2021. However, 2022 and beyond are set to be better. Projects like Filecoin Energy Dashboard and Filecoin Community Roadmap highlight the progress made in 2021, and proposed developments provide insight into how successful Filecoin will be in the future.

Today’s Filecoin price is $5.76 with a 24-hour trading volume of $213,949,891. Filecoin is down 1.42% in the last 24 hours. The current CoinMarketCap ranking is #33, with a live market cap of $1,627,606,547. It has a circulating supply of 282,489,198 FIL coins and the max. supply is not available.

Also Read:
• How To Stake Filecoin?

Filecoin price today and partnerships

Filecoin got into many partnerships in 2021. One such partnership is metaverse. Metaverse is a virtual AI space powered by Web 3.0. They’ve helped build cutting-edge virtual human engines; virtual celebrities buy partnering w/ Gaming, GameFi & #NFT ecosystem projects.

Filecoin Latest Developments

One of the latest developments in Filecoin is Filecoin Plus. Filecoin Plus is a storage platform that can facilitate deals between verified clients. Filecoin Plus introduced a layer of social trust to the network on 02nd June 2022.

Proposed developments

One proposed development is Inflow music, released in February 2022. Inflow enables musicians to monetize their songs by sharing them with their fans. This social token platform lets musicians earn WITH the support of their community! 

Filecoin (FIL) Overview and market cap

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 storage of information for a given amount of time.

The Filecoin ecosystem has two types of miners; the retrieval miners and the storage miner.

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 to land contracts to offer storage to people needing storage space.

Once a storage miner strikes a deal with a user to offer the 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 in 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?

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 chart by CoinMarketCap

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.

 Filecoin price data presented by Coingecko

Filecoin price data presented by Coingecko

Filecoin price data presented by CoingeckoGoing by the above table from Coingecko, it is evident that the FIL coin has been on a bearish momentum over the last 30 days despite the mass adoption of Bitcoin and other cryptocurrencies as well. Institutional investors are also attracted to the crypto industry as seen from the significant increase in adoption rate.

Going by the above table from Coingecko, it is evident that the FIL coin has been on a bullish momentum over the last 30 days due to the mass adoption of Bitcoin and other cryptocurrencies. Institutional investors are also attracted to the crypto industry, as seen by the significant increase in the adoption rate. 

Filecoin  Technical Analysis

The Filecoin token price has been steady over the past few months, with minimal price fluctuations caused by the general price volatility experienced across the entire crypto space. The token has established a strong support level near the $5.5 mark, and the price is expected to start moving up, creating new higher highs. The Filecoin token price chart analysis is bullish for both short and long-term holders. The current price is down by 0.80% within the last 24 hours, but the prices are expected to resume an upward momentum soon. Similarly, the token’s market dominance is up to 0.17%, with a current market rank of #34 on the Coinmarket cap. The current chart analysis shows the token price will resume an upward trend, ensuring the predicted bullish momentum continues in subsequent years.

Filecoin  Price Predictions by Cryptopolitan

The price prediction of Filecoin from 2022 to 2031 is bullish overall, and the predictions show a steady price increase in the market price of FIL tokens from the beginning of 2023 moving forward. Similarly, the trading volumes are expected to increase as more adoption of the token is projected. The Filecoin price prediction shows that the token could record a maximum price of $6.92 in 2022. Similarly, the token’s expected average price in 2022 is $6.39, while its minimum price is expected to be $6.16. Further price predictions show that the token’s price could increase dramatically to an average price of $45.93 by 2026 and a maximum price of $246.26 by 2030, indicating a significant price increase from the current price.

The Cryptopolitan price prediction analysis shows an upward trend for the Filecoin token. The predictions show that the token will record significant price gains from 2022 to 2031. According to the analysis, FIL/USD could trade at an average price of $30.41 in 2025. Similarly, the prices could go up dramatically to trade at an average price of $330.88 in 2031. Below is a detailed breakdown of the price of FIL/USD from 2022 to 2031.

Filecoin Price Prediction 2022

The Filecoin price prediction is a minimum price of $6.16 and expected to rise progressively to a maximum market price of $6.92, indicating an increase from the current price. The price of Filecoin is expected to continue to rise over the years from 2022 and beyond. Crypto investors anticipate a slow but steady price increase of the FIL token. According to the current crypto market state, several factors could affect the future price of a cryptocurrency.

Filecoin Price Prediction 2023

In 2023, the price of Filecoin, as forecasted, will continue to increase. Given the capabilities, the Filecoin token is expected to gain more traction and register more transactions. According to the Filecoin network price prediction, the cryptocurrency could trade at a minimum price of $14.41 and a maximum price of $17.64 by June 2023. Further price predictions indicate that the price of Filecoin tokens in 2023 could average at $14.83.

FilecoinPrice Prediction 2024

FilecoinPrice prediction 2024 is similarly positive, and expert analysis of the trend charts shows the cryptocurrency market will generally experience an upward trend. The FIL coin prediction, therefore, shows that Filecoin valuation within the crypto market could increase by approximately 89%. The price of Filecoin by 2024 is projected to be between $20.75 and $25.33. This predicted price rise is expected to result in a 90% increase in price based on the current value. By the end of 2024, the price predictions of the Filecoin token could average $21.34.

FilecoinPrice Prediction 2025

Crypto investors always look to the future and hope their cryptocurrencies value continues to grow. As a crypto holder, your investment’s value appreciates during the bull market and depreciates during the bear market. Filecoin holders hope for a relatively bullish trend to continue in 2025 so that their crypto portfolio increases in value. According to the price predictions of Filecoin based on a smart analysis of the historical price data, the Filecoin token will trade at an average price of $30.41 in 2025 and achieve an estimated maximum market value of $36.35 by the end of the year.

Filecoin  Price Prediction 2026

Filecoin price is projected to grow exponentially in 2026. The token is projected to record significant gains in 2026. Per the forecasts, the expected minimum price of FIL/USD 2026 is $44.41, while the projected maximum trading price is $52.46. According to these price forecasts, we expect Filecoin to hit the $50 mark by 2026, showing a significant price increase from the current price.

Filecoin Price Prediction 2027

The Filecoin price prediction for 2027 is equally bullish. The predictions are characterized by the apparent increase in demand for the Filecoin token. The information derived from the price charts shows rather exponential growth in the price of FIL/USD. As per the predictions, Filecoin could top its previous predicted market value and record a maximum value of $77.52 in 2027. The predicted average price of Filecoin is $66.74.

Filecoin Price Prediction 2028

In 2028, the chart analysis shows an apparent price increase. Although the fluctuations are notable, the general direction of the price chart is upwards. The expected maximum and minimum price values of Filecoin indicate a somewhat slow but significant growth from 2027 figures. The Filecoin prediction for 2028 shows an average trading price of $99.82, with the maximum and minimum prices estimated to be $96.49 and $115.16, respectively.

Filecoin Price Prediction 2029

By 2029, an exponential growth rate is projected to occur in Filecoin’s price chart. The analysis indicates the prices will skyrocket, and Filecoin will record significant growth rates. Based on the numbers, the Filecoin price forecast shows it will average $147.88 in 2029. The prices are projected to fluctuate between a maximum and minimum value of $142.88 and $167.95.

Filecoin Price Prediction 2030

Filecoin price prediction 2030 shows continued growth in Filecoin crypto price. The predictions are equally bullish as the analysis shows a significant price increase from 2029. Based on the predictions, the future price of Filecoin could oscillate between a minimum price of $209.56 and a maximum price of $246.26. The forecasted average price in 2030 is $216.96.

Filecoin Price Prediction 2031

In 2031, the Filecoin price prediction shows the token’s general growth to be positive. The forecasts continue to suggest a general upward trend. The forecasted average Filecoin price in 2031 is $330.88. The Filecoin crypto price prediction in 2031 ranges between $320.03 and $374.28.

Filecoin Price Prediction by Walletinvestor

The Wallet investor technical price analysis of the token shows that the cryptocurrency is bearish for both the short and long term. Their technical analysis indicates that the Filecoin cryptocurrency will devalue over the years, terming it as a bad investment for crypto holders. The token’s 1-year price prediction by Wallet Investor shows it can trade at an average price of $0.231, a significant price decline from the current price of the FIL coin.

Filecoin Price Prediction by Trading Beasts

The Trading Beasts platform is optimistic about the future price of Filecoin. According to the price predictions, the platform shows a slow and steady growth of the FIL/USD pair throughout the years, implying that it is an excellent long-term investment. However, the positive growth is predicted to be slow and characterized by price retracements throughout the year. According to Trading Beasts, the cryptocurrency could trade at an average price of $ 13.13238 by 2024, indicating a 100% price increase from the current price. Further price analysis shows that the token could trade at an average price of $17.92806, representing a 174% price increase by the end of 2025.

Filecoin  Price Predictions by Industry Influencers

Crypto investment decisions are often based on the speculative future prices of the token. Digital marketers are often at the forefront of building a strong and sustainable interest in a particular cryptocurrency. The token’s popularity often translates to better current and future prices. The FIL/USD, crypto trading pair has significant support from crypto influencers. Below is an example of a tweet in support from Filecoin supporters on Twitter to show their strong belief in Filecoin.

Crypto prince goes through the fundamental analysis of Filecoin.

https://www.youtube.com/watch?v=Dw75hH0OOMQ

According to Unison Finance on youtube, now would be the best time to buy Filecoin. They argue that Filecoin price today is a huge discount.

YouTube video

Conclusion 

Filecoin is an ecosystem in the blockchain space offering real-world utility. Storage services will play an integral role in the future of Web3.0, and Filecoin is right in the middle of the revolution. The utility will enable FIL to leverage a bullish trend in the future.

Filecoin has shed over 80% of its value this year. The Filecoin price analysis suggests the coin will consolidate in the second half of 2022 and pick upward momentum from 2023. The trend will be possible given we don’t experience negative news on the crypto market.

Filecoin will break above $300, setting new support and resistance levels. While the technology will be a gamechanger, the platform faces a lot of competition from Sia and Bittorrent. Fil will have to innovate to maintain its edge.

Filecoin digital asset is one of the popular tokens backed as a good investment based on FIL price. The filecoin price analysis shows that FIL enthusiasts should buy Filecoin and hold it for the long term. However, every investor should perform their own research before investing in any cryptocurrency of their choice. However, the FIL price prediction shows that FIL price could grow exponentially, leading to significant profits for long-term holders.

Vary your portfolio but have faith in cryptocurrencies that have utilitarian value. And the golden rule that must never be set aside, be sure you keep all the bases covered for your bare essentials before investing in any coin.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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