Filecoin (FIL) currently has a price of $4.82 and is down -7.050% over the last 24 hours. The cryptocurrency is ranked 35 with a market cap of $2.3B. Over the last 24 hours, it saw $256.1M of trading volume. The token has a circulating supply of 477.6M tokens out of a total supply of 2B tokens.
Filecoin is a digital cryptocurrency that creates a decentralized market for global data storage. Users can earn FIL tokens by renting out their unused storage space, and others can purchase storage using FIL tokens. This system is more efficient and cost-effective than traditional cloud storage providers. Filecoin also uses a mechanism called Proof of Replication to ensure accurate and reliable storage, creating a secure network for data storage and access. Overall, Filecoin aims to improve data storage by providing a decentralized marketplace that is more efficient and secure than traditional methods.
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