Filecoin, a digital storage and data retrieval solutions company founded in 2014, price has been growing a lot in the last few weeks. In the last 7 days, the price of the coin has moved up by 35%. According to the data from CoinMarketCap, the market cap of the coin is around $3.9 billion with a daily trading volume of over $1.08 billion, at press time. Â
Ali Martinez, a crypto analyst predicts the price of the coin will go from $7.7 to $25 which is triple its value. He also stated that there could be potential resistance.
Many crypto analysts have been bullish on the price of the coin and the solution the company is providing. Some predict the price of the coin might go up to $50 by the end of the year.
The Filecoin foundations team has been working hard on the capabilities of decentralized data storage. The amount of data generated would only increase in the coming years and the need for decentralized data storage is evident.
Filecoin is integrating with Solana and the company recently unveiled its integration with Solana. Solana is looking to scale its data using Filecoin’s decentralized storage capabilities which would mark a significant milestone between the two companies.
In 2023, Filecoin witnessed a jump of 3.8 times in the data stored with a total of 1,800 PiB (Pebibytes). The company’s solution to provide decentralized data storage that is scalable and secure has seen massive traction in the last year.