Filecoin (FIL): crypto increase +72% in one week
Filecoin (FIL) crypto has registered a price pump of +72% in the last 7 days, outperforming the bullish performance of Bitcoin (BTC).
Filecoin (FIL) outperforms Bitcoin with a +72% pump in the last seven days
The 22nd crypto by market cap, Filecoin (FIL), has experienced a price pump of 72% in the last seven days.
Specifically, as of February 17, FIL was worth $5.48, and since then the pump has moved the price to $7.50. However, during the day yesterday, FIL’s price reached $9.39. At the time of writing, FILE is worth $8.41.
A significant performance that follows the general bullish trend of crypto, but by far exceeds 12.50% price pump for the last 7 days of the crypto queen.
In fact, Bitcoin (BTC) rose from $21,760 to close to $25,000 as early as February 16th, surpassing that ceiling only yesterday. At the time of writing, BTC is worth $24,482.
Ethereum (ETH), the quintessential Virtual Machine crypto, also recorded the same, more or less. ETH has registered a 12% pump in the last 7 days, rising from $1509 to the current $1693. It also hit a high for the week yesterday at $1,718.
Filecoin (FIL): The interest in crypto may be due to the launch of FVM
And speaking of Virtual Machine, a Twitter account with 250,000 followers speaks volumes price pump to probable interest the community provides Filecoin for the upcoming launching its Filecoin Virtual Machine (FVM).
— Wu Blockchain (@WuBlockchain) 17 February 2023
Filecoin is an open source public cryptocurrency and digital payment system proposed as a blockchain-based collaborative digital storage and retrieval method. It was created by Protocol Labs and shares some of the ideas of the InterPlanetary File System, allowing users to rent unused hard drive space.
The addition of smart contracts and the virtual machine will make Filecoin a full-fledged layer 1 blockchain.
Announcement of staff cuts does not scare the crypto community
Apparently, Filecoin Protocol Labs’ recent announcement that they have to lay off 21% of employees does not scare the crypto community.
And indeed, Filecoin joins a number of crypto companies that have found themselves dealing effects of the long crypto winter 2022which has damaged the economic situation of the entire industry.
Juan Benet, CEO of Protocol Labs, reportedly announced the layoffs and blamed it entirely on last year’s bearish trend experienced by the entire industry. Filecoin joined blockchain-related companies such as Candy Digital, Blockchain.com, OpenSea, Huobi and Gemini must make this decision.
