Filecoin Price Prediction: Can FIL Coin Reach $100?

June 18, 2024

Price Prediction

Sean Korbett

Filecoin (FIL) is a peer-to-peer network that stores files, offering built-in economic incentives and cryptography to ensure files are stored reliably over time. Filecoin was developed as a decentralized alternative to traditional cloud storage providers and provides the efficient use of storage resources and democratizes access to data, enabling users to store and retrieve data more securely, efficiently, and transparently. Will Filecoin become a prominent cryptocurrency in the future? Discover the Filecoin price prediction in StealthEX’s latest article.

Filecoin (FIL) Overview

Filecoin employs blockchain technology to allow users to buy and sell unneeded storage space across a global network of computers. Users on this network can earn FIL, the Filecoin network’s native cryptocurrency, by renting out their available storage space to other users who need to store data. Filecoin’s decentralized nature aims to deliver a more efficient and cost-effective data storage solution than standard centralized cloud storage services. The Proof-of-Replication mechanism verifies that a miner truly stored the number of copies of data it claims to hold, while the Proof-of-Spacetime mechanism verifies that a miner stored the data for the agreed time.

The Filecoin mainnet launched in October 2020 and is being run by Protocol Labs, spearheaded by Juan Benet, a computer scientist and engineer. After being originally mentioned in a white paper released by Protocol Labs, Filecoin created its native token FIL, and raised $250 million in an ICO in 2017, which allowed the development team to move closer to realizing its objectives. In fact, since its inception at the end of 2020, the Filecoin mainnet has grown to become one of the most well-liked and widely used decentralized storage protocols.

Filecoin Features

Filecoin offers a number of features within the crypto space:

1. Designed for storage providers and users. Filecoin users pay the network to have their data saved on computers called storage miners, which are devices that store files and show over time that they have been stored correctly. If someone wants to save their files or get paid to store the data of others, they can sign up for Filecoin.
2. An NFT storage platform. Filecoin’s capacity to store the underlying digital assets makes it stand out among its competitors.
3. Reliable storage. Because storage is paid for, Filecoin offers a sound economic justification for data to remain accessible over time. Reliable computers with strong internet connections are used to store files. 
4. Storage with verifiable content. Procedures for reviewing file history and making sure files have been kept correctly over time are integrated into Filecoin. All storage providers show that they update their files once every twenty-four hours.
5. A solitary protocol. Any miner that adheres to the same protocol can store data used by Filecoin applications. You don’t need to create a unique API for every provider. Applications that wish to support various providers are not limited to the features supported by their providers that have the lowest common denominator.
6. Resilience to censorship. Filecoin resists censorship since no central provider can be made to remove files or stop providing service.
7. Open-source code. Open-source code powers the operations of both storage providers and clients. Storage providers don’t need to develop their own infrastructure management software, and everyone benefits from Filecoin’s code improvements.
8. Addressing the content. Filecoin allows anyone who wants to download the file to do so when several users store the same file and make it publicly available without encrypting it. Regardless, users may verify that they have the right file and that it is unharmed.

Filecoin (FIL) Price Chart    

CoinMarketCap, 18 Jun 2024

FIL Coin Price History Highlights 

• 2017: In 2017, FIL’s price reached $25.
• 2018: In 2018, Filecoin rallied to the highest price of $10.20 in the year. 
• 2019: Filecoin (FIL) did not make any significant rise in value throughout the year, fluctuating from $2 to nearly $7.
• 2020: In May 2020, the average price of FIL was around $12.50. It was during this period that the trading of FIL got low.
• 2021: Filecoin increased by a whopping 209.82% to reach a high price of $190.84 in early 2021.
• 2022: The FIL price started 2022 with a tag of $34.200 but due to a series of fallouts and a market crash, the price concluded the year with an average trading price of $3.023. Filecoin’s lowest price was recorded on December 16, 2022 when it was trading at its all-time low of $ 2.54. 
• 2023: In 2023, the price of Filecoin fluctuates in the price range between $2 to $5.3.
• 2024: During the bullish market in March, Filecoin reached $11.8. At the moment, its price fluctuates between $4 and $6, going up and down.

Filecoin Price Prediction

Filecoin Price Prediction 2024

DigitalCoinPrice experts expect that in 2024 FIL coin’s price can hit $12.89 (+120%), while at its lowest point it can drop to $5.2 (-10%).

PricePrediction crypto analysts believe that in 2024 FIL coin will rise: it’s expected to cost $7.33 (+25%) at its low, while at its maximum FIL will rise to $8.56 (+46%).

Telegaon crypto experts anticipate that the minimum lowest price FIL can hit in 2024 is $6.24 (+6%) vs its maximum price of $9.45 (+61%).

Filecoin Price Prediction 2025

According to DigitalCoinPrice, Filecoin will continue rising in price. Based on the experts’ forecasts, in 2025, FIL might go as high as $15.14 (+159%) per coin at its highest point. Its minimum price might go as low as $12.56 (+115%).

Based on the experts’ forecasts at PricePrediction, in 2025, FIL crypto will continue rising in price, slowly but steadily: $10.28 (+76%) at its lowest point and $12.94 (+121%) at its peak.

Telegaon experts predict that in 2025 FIL might go as low as $11.48 (+96%), while at its maximum it can reach $18.75 (+221%).

Filecoin Price Prediction 2030

According to DigitalCoinPrice, by 2030 FIL will see a lowest price of $39,57 (+577%), while at its peak it might finally reach $43,85 (+650%).

PricePrediction analysts believe that by 2030, FIL coin will rise to a maximum level of $79.22 (+1,256%), while its minimum price will drop to $64.57 (+1,005%).

Analysts at Telegaon think that by 2030, Filecoin is going to reach $114.29 (+1,857%) at its peak and might trade at a minimum of $93.51 (+1,501%).

Filecoin Price Prediction 2040

According to PricePrediction forecasts, in 2040 FIL will reach unbelievable heights: its minimum price is expected to be $3,471 (+59,334%), while its maximum price is going to soar to $4,136 (+70,721%).

When it comes to long-term predictions, Telegaon experts believe that in 2040 FIL crypto is going to drop to $207.72 (+3,456%) at its lowest point or it can go to an all-time high of $235.94 (+3,940%).

Filecoin Price Prediction: Experts’ Opinions

Filecoin was unable to capitalize on the euphoric emotion sparked by the introduction of Bitcoin ETFs in January, resulting in a 28.3% price decline. However, FIL experienced a revival in the first part of February, recovering well with a 73% increase. And this can be attributed to one important partnership.

First of all, Filecoin advanced its quest for decentralized blockchain storage solutions in February by collaborating with Solana, a renowned smart contract platform. This collaboration is a departure from centralized storage solutions, demonstrating Filecoin and Solana’s dedication to improving dependability and scalability within the blockchain ecosystem. Solana’s integration with Filecoin aims to make its block history more accessible and usable for various infrastructure providers, explorers, and indexers by leveraging Filecoin’s decentralized storage capabilities to achieve data redundancy, scalability, and enhanced security while adhering to decentralized principles.

Considering these developments within Filecoin network and its position on the market, analysts at CoinMarketCap, believe that by 2030, Filecoin could naturally reach a high of $60.2.

FIL USDT Price Technical Analysis     

Tradingview, June 18, 2024

Now that we’ve seen possible price predictions for FIL, let’s find out a bit more about the factors that can influence its price.

Factors Affecting FIL Coin Price

Just like in the case with other crypto assets, various factors affect the FIL’s price, including demand and supply, market sentiment, adoption, technology development, and government regulations. 

The success of Filecoin is partly dependent on how efficiently it stores and retrieves data. Improving performance in these areas may boost its appeal to big data, AI, and other data-intensive sectors. 

The performance, reliability, and scalability of the Filecoin network are crucial for attracting new users and storage providers. Future technical upgrades and optimisations will have a direct impact on the company’s market competitiveness.

Partnerships are also important. More than 60 tech firms have collaborated with Filecoin, and that’s just the start as the project is yet in its infancy. Storage providers and users, particularly large organizations and developers, will have a significant impact on the network’s activity and the token’s value. The expanding market demand for decentralized storage solutions, particularly in light of increased concern about data security and privacy, can accelerate FIL adoption.

When assessing FIL as an investment, keep the following considerations in mind:

• Data storage and retrieval efficiency;
• Partnerships;
• Performance;
• Competition;
• Adoption;
• Social media activity;
• Market sentiment;
• Technological advancements.

Risks and Opportunities

Filecoin’s essential strength resides in its pioneering approach to data storage. It has firmly established itself as a market leader in decentralized data storage, offering a platform for users to transact storage space. Filecoin customers benefit from a variety of features that help the platform compete in the market. The protocol encourages a global network of computer operators to offer file sharing and storage services to the public. This method encourages users to cooperate more. Interestingly, the Filecoin community is one of the fastest growing in the industry.

However, it’s crucial to remember that cryptocurrencies are exceptionally volatile and require careful research and consideration. To fully understand the potential of an investment, it’s vital to consider all the factors that can influence its price in the future.

Is Filecoin a Good Investment?

It may be. The coin is planning for expansion and more collaborations, so it might be an appropriate time to take a closer look at the project.

Does Filecoin Have a Future?

If Filecoin is any indication of what to expect in the future, other blockchain-based file sharing protocols will enter the market. These systems enable users to earn a passive income while also reducing the carbon footprint and waste generated by users who no longer need to purchase hardware. For these reasons, Filecoin can experience significant growth in the next few years.

How High Will Filecoin Go in 2024?

According to DigitalCoinPrice, in 2024 Filecoin can hit $12.89 at its peak.

What Will Filecoin Be Worth in 2025?

Telegaon experts think that in 2025, Filecoin will cost $18.75 at its highest point.

How Much Will Filecoin Cost in 2040?

According to PricePrediction, by 2040 Filecoin can become so widely adopted that its price might skyrocket to $4,136, a new staggering all-time high.

What Is the Price of Filecoin in 2050?

PricePrediction crypto analysts set the future maximum price of FIL in 2050 at $6,045.

Can Filecoin Reach $100?

It’s not impossible as this cryptocurrency has already reached this level. However, previous results do not guarantee future gains.

Conclusion

In general, Filecoin, as a decentralized storage solution, is extremely secure, dependable, and transparent. However, it’s always good to consider the high volatility of the digital currency market and comprehend the project’s special qualities and growth possibilities. The current value and future trajectory of Filecoin are determined by the project team’s technical strength as well as market acceptance. In the future, Filecoin can become more widely adopted and, in turn, might eventually rise in price.

Where to Buy Filecoin?

StealthEX is here to help you buy Filecoin (FIL) if you’re looking for a way to invest in this cryptocurrency. You can buy FIL privately and without the need to sign up for the service. StealthEX crypto collection has more than 1500 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

How to Buy FIL Coin: Quick-Step Guide

Just go to StealthEX and follow these easy steps:

1. Choose the pair and the amount you want to exchange — for instance, ETH to FIL. 
2. Press the “Start exchange” button.
3. Provide the recipient address to transfer your crypto to.
4. Process the transaction.
5. Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.