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Filecoin Price Prediction 2023-2032: What’s the future for FIL?

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Filecoin Price Prediction 2023-2032

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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.

How much is FIL worth?

Today’s Filecoin price is $4.25 with a 24-hour trading volume of $387,253,801. Filecoin is up 11.76% in the last 24 hours. The current CoinMarketCap ranking is #35, with a live market cap of $1,530,796,910. It has a circulating supply of 359,805,544 FIL coins and the max. supply is not available.

Also Read:

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 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 New Developments

Filecoin announced that the Filecoin Virtual Machine’s EVM runtime (FEVM) is coming in February 2023. According to Filecoin, the FEVM will be one of the most ground-breaking updates to the Filecoin network.

Developers will be able to use the various EVM-compatible developer tools that web3 builders are accustomed to and enjoy deploying user-defined smart contracts on top of Filecoin’s blockchain and storage network for the first time. These contracts can be written in Solidity.

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:

Screenshot 2407
Source: Filecoin

Filecoin Technical Analysis

Filecoin Price Prediction 2023-2032: What's the future for FIL? 1

Filecoin follows a bearish from a sideways channel of $5 to $7. The FIL price made a new Lower low, which is a sign of a downtrend, according to its 1D chart above. Furthermore, the coin has created new support, which is around the $3 area and approaching the $4 resistant low.

FIL’s momentum is bullish, the MACD line is above the MACD Signal Line, and RSI is above 55. It is essential to know that FIL’s On Balance Volume is flat, indicating that volume on Up days equals volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium.

The nearest support zone is $3, and the nearest resistance zone is $4, then $5, and $7.

Filecoin Price Predictions by Cryptopolitan

Filecoin Price Prediction 2023-2032: What's the future for FIL? 2

Screenshot 2023 01 13 at 2.12.12 PM

Filecoin Price Prediction 2023

According to the Filecoin price forecast for 2023, FIL is estimated to trade at a minimum price of $5.18 and an average price of $5.33. It is essential to know that Filecoin is expected to surge higher up to a maximum price of $6.21 per FIL token.

Filecoin Price Prediction 2024

Our Filecoin price forecast for 2024 is that FIL will trade at a minimum price of $7.38 and an average of $0.71. A maximum forecast price of $0.84 is expected.

Filecoin Price Prediction 2025

According to the Filecoin price forecast for 2025, FIL is estimated to trade at a minimum price of $10.83 and an average price of $10.83. FIL is expected to surge to a maximum price of $13.06 per token.

Filecoin Price Prediction 2026

Our Filecoin price forecast suggests in 2026, the price of FIL is expected to reach a minimum level of $15.78. The FIL price can reach a maximum level of $18.58 with an average trading price of $16.38.

Filecoin Price Prediction 2027

Based on our FIL price forecast for 2027, FIL is expected to potentially attain a maximum trading price of $27.84, with an average value of $23.74. Additionally, FIL’s price is likely to trade at $23.09, the lowest expected price.

Filecoin Price Prediction 2028

The Filecoin price forecast for 2028 is a minimum level of $39.62. The FIL price could reach a maximum value of $31.60 with an average trading price of $32.55.

Filecoin Price Prediction 2029

According to the Filecoin Price forecast for 2029, an average prediction of $47.29 is expected, and the maximum FIL price can be as high as $56.08 per token by 2029. The minimum price FIL is estimated to be around $45.99.

Filecoin Price Prediction 2030

The Filecoin prediction for 2030 is that the FIL coin will trade at a minimum price of $62.93 and an average of $64.82 per token. The maximum FIL price prediction suggests that FIL can reach as high as $77.08 by the end of the year.

Filecoin Price Prediction 2031

Filecoin price forecasts suggest that by 2031 FIL can potentially reach a maximum trading price of $110.23 with an average FIL value of $96.96. The minimum FIL price is expected to be around $93.72.

Filecoin Price Prediction 2032

The FIL Price forecast for 2032 suggests that the coin will trade at a minimum price of $132.97 and an average price of $136.84 per FIL token. The maximum Filecoin prediction is that Filecoin will potentially reach a new all-time high price of $161.81 by the end of the year.

Filecoin Price Prediction by Digital Coin Price

Digital Coin Price predicts that FIL will reach a maximum price of $8.37, with an average trading price of $7.80. The minimum trading price of the coin is expected to be $3.38.

By 2025, Digital Coin Price predicts that the coin will reach a maximum price of $13.88, with an average trading price of $12.97. The minimum price of the currency by then is expected to be $11.26.

Furthermore, Digital Coin Price expects the FIL coin to trade at a maximum price of $28.24, with an average trading price of $27.34 by 2029. The lowest trading price of the coin by then is expected to be $25.78.

Digital Coin Price is predicted to reach a maximum level of $54.66, with an average trading price of $53.89 by 2031. The coin’s lowest price by then is expected to be $52.55.

Furthermore, FIL is expected to reach a maximum price of $74.24, with an average trading price of $73.73 by 2032.

Filecoin price prediction by Trading Beasts

FIL is expected to reach a maximum price of $6.81, with an average trading price of $3.75 by 2023.

By 2024, the coin is predicted to reach a maximum price of $10.89, with an average forecast price of $8.71 by then. The lowest trading price of the coin by then is expected to be $7.41.

By 2025, FIL is predicted to reach a maximum price of $13.17, with an average trading price of $10.53. The coin’s lowest price by then is expected to be $8.96.

Filecoin Price Prediction by Coincodex

Coincodex has a technical analysis-based FIL price prediction for 2023. Technical analysis from CoinCodex shows that sentiment for FIL might be bearish as of 13 February 2023, with 14 technical indicators showing bullish and 17 signaling bearish signals. But at the same time, CoinCodex’s short-term FIL price prediction indicates that the coin could rise by just over 16% to $4.49 by 19 December 2024.

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

The study mentioned above reveals that anticipated outcomes for Filecoin (FIL) can be unpredictable. There is no consensus on whether FIL will experience price increases or decreases in the future.

Numerous things, including new developments by the Filecoin project, announcements in crypto-space, the legal status of bitcoin, and other factors, will impact future progress. Before making any investment decisions regarding Bitcoin (DYOR), we advise you to research.

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.

FAQs

Where can I buy Filecoin (FIL)?

You can buy Filecoin on Coinbase, Binance, Kraken, and Huobi Global.

Where can I safely store Filecoin?

You can safely store Filecoin on your Math wallet. If you are already running your own lotus node, you can also manage FIL wallets from the command line. Filecoin provides support for some of the wallets enumerated here..

What's the FIL price in 10 years?

The forecasted Filecoin price in 2032 is a maximum of 161.81 and a minimum of $132.97.

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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