Filecoin Jumps 27% – Leads Top 100 With Virtual Machine Update

• Filecoin (FIL) jumped 27% over the last 24 hours leading the top 100 coins by market cap.
• Filecoin’s YTD gains amount to a 130% increase in price, having started the year at $3.013.
• The project announced Filecoin Virtual Machine (FVM), which is set to go live on March 1 during ETHDenver.

Decentralized Storage Protocol Filecoin Leads Top 100 Coins

Filecoin (FIL) jumped 27% over the last 24 hours to lead the top 100 coins by market cap, according to CoinMarketCap data. This surge in price follows a general trend of rising prices since January 2021 and brings FIL’s YTD gains up to a 130% increase in price from its starting point of $3.013 at the beginning of the year.

Filecoin Virtual Machine Update Picking Up Steam

On Jan. 19, 2021, Filecoin announced their new update: Filecoin Virtual Machine (FVM). This virtual machine is set to go live on March 1 during ETHDenver and will bring programmability to the storage network with use cases such as perpetual storage, DeFi, and DataDaos. Datadaos refer to preserving and curating datasets for research databases and tokenized stakeholder systems for increased value and utility of that data.

26 Week High For FIL Amidst Volatile Market Movement

Despite large caps experiencing a minor sell-off due to Bitcoin recording a YTD high of $25,260 around 16:00 (GMT)on Feb. 16, FIL has broken out of its two-week range between $4.646-$5.83 on Feb 12th and re-tested its support zone of $4646 on Feb 13th before trending higher towards today’s 26 week high of $6.857 at time of press according to TradingView data .

Strong Run But Still Down 97% From All Time High

Filecoin still remains down 97% from its all time high price of 236.84 achieved April 1st 2021 despite this strong run up in price, showing it still has some way to go before returning back near those highs again .


Overall this recent news about FVM seems to have driven investor confidence pushing prices higher towards current levels with more potential upside if investors remain bullish going forward as well as other developments being released soon .

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