{"id":291501,"date":"2023-02-18T08:00:04","date_gmt":"2023-02-18T02:30:04","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=291501"},"modified":"2023-02-17T19:40:55","modified_gmt":"2023-02-17T14:10:55","slug":"filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\/","title":{"rendered":"Filecoin [FIL] makes a stunning comeback in 2023, is this the reason?"},"content":{"rendered":"<ul>\n<li><i>At the time of writing, FIL jumped 25% over the previous day.<\/i><\/li>\n<li style=\"font-weight: 400;\"><i>Filecoin&#8217;s daily cumulative revenue over the last 180 days was second only to Ethereum.<\/i><\/li>\n<\/ul>\n<p>After facing considerable stress for most parts of 2022, Filecoin&#8217;s [FIL] bullish rally made impressive gains since the beginning of 2023. The coin surged 25% over the previous day at press time, data from <a href=\"https:\/\/coinmarketcap.com\/currencies\/filecoin\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a> showed.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Filecoin announced that it will launch smart contracts in Mar&#39;23, making it a fully-fledged L1. FIL rose by 23% in 24 hours. There are currently 3,785 active miners on the Filecoin network, storing 18.767 EiB of information, and staking 134,023,969 FIL.<\/p>\n<p>&mdash; Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1626539737166266369?ref_src=twsrc%5Etfw\">February 17, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p style=\"text-align: center;\">How much are\u00a01,10,100 FILs\u00a0worth today?<\/p>\n<hr \/>\n<p>A possible reason for the continued increase could be the excitement behind the soon-to-be launched smart contracts on the network, as pointed out by Wu Blockchain above. Moreover, the introduction of smart contracts could drive mainstream adoption for the Filecoin network, which specializes in data storage.<\/p>\n<h3>Big upgrade beckons Filecoin community<\/h3>\n<p>The launch of <a href=\"http:\/\/ambcrypto.com\/filecoin-fil-investors-who-are-about-to-cut-losses-should-read-this\/\" target=\"_blank\" rel=\"noopener\">Filecoin Virtual Machine [FVM]<\/a> on the mainnet is expected to bring smart contracts and user programmability to the Filecoin blockchain. Prior to the release, FIL would organize a one-day event called <a href=\"https:\/\/events.fil.org\/fvm-hackerbase\/page\/2570587\/countdown-to-fvm-\" target=\"_blank\" rel=\"noopener\">The Countdown to FVM<\/a>, which will feature exclusive FVM content and a builders showcase.<\/p>\n<p>However, the buzz has not permeated through other network parameters. The transaction fees dipped sharply over the last week, which could discourage new validators from entering the network, Token Terminal pointed out.<\/p>\n<p>On the other hand, revenue for FIL holders plummeted by 67% after hitting a monthly high on 7 February. The network traffic also left a lot to be desired.<\/p>\n<figure id=\"attachment_291508\" aria-describedby=\"caption-attachment-291508\" style=\"width: 1021px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin.jpg\"><img decoding=\"async\" class=\"wp-image-291508 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin.jpg\" alt=\"\" width=\"1021\" height=\"528\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin.jpg 1021w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-300x155.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-768x397.jpg 768w\" sizes=\"(max-width: 1021px) 100vw, 1021px\" \/><\/a><figcaption id=\"caption-attachment-291508\" class=\"wp-caption-text\">Source: Token Terminal<\/figcaption><\/figure>\n<p>Despite the drop over the past few days, Filecoin&#8217;s daily cumulative revenue over the last six months stood at $11.9 million, second only to Ethereum [ETH].<\/p>\n<figure id=\"attachment_291530\" aria-describedby=\"caption-attachment-291530\" style=\"width: 1123px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-3.jpg\"><img decoding=\"async\" class=\"size-full wp-image-291530\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-3.jpg\" alt=\"\" width=\"1123\" height=\"434\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-3.jpg 1123w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-3-300x116.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-3-1024x396.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-3-768x297.jpg 768w\" sizes=\"(max-width: 1123px) 100vw, 1123px\" \/><\/a><figcaption id=\"caption-attachment-291530\" class=\"wp-caption-text\">Source: Token Terminal<\/figcaption><\/figure>\n<h3>Investors&#8217; sentiment turns favorable<\/h3>\n<p>Filecoin recorded excellent growth on its DeFi front as well, with the total value locked (TVL) skyrocketing to its all-time high on 15 February, per data from DeFiLlama. This growth was powered by decentralized mining platform Filet.<\/p>\n<figure id=\"attachment_291544\" aria-describedby=\"caption-attachment-291544\" style=\"width: 1090px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-4.jpg\"><img decoding=\"async\" class=\"wp-image-291544 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-4.jpg\" alt=\"\" width=\"1090\" height=\"376\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-4.jpg 1090w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-4-300x103.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-4-1024x353.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-4-768x265.jpg 768w\" sizes=\"(max-width: 1090px) 100vw, 1090px\" \/><\/a><figcaption id=\"caption-attachment-291544\" class=\"wp-caption-text\">Source: DeFiLlama<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"http:\/\/ambcrypto.com\/predictions\/filecoin-price-prediction\" target=\"_blank\" rel=\"noopener\">Filecoin\u2019s [FIL] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<p>According to Santiment, FIL seemed to have got a thumbs-up from investors, as evidenced by the positive weighted sentiment for the token. The Binance Funding Rate was positive, indicating that there was a significant demand in the derivatives market, which could push the price further.<\/p>\n<p>However, the slight drop in development activity might be a cause of worry as the Filecoin community eagerly awaited releases of proposed enhancements.<\/p>\n<figure id=\"attachment_291541\" aria-describedby=\"caption-attachment-291541\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-FIL-19.11.12-17-Feb-2023.png\"><img decoding=\"async\" class=\"wp-image-291541 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-FIL-19.11.12-17-Feb-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-FIL-19.11.12-17-Feb-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-FIL-19.11.12-17-Feb-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-FIL-19.11.12-17-Feb-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-FIL-19.11.12-17-Feb-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-FIL-19.11.12-17-Feb-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-FIL-19.11.12-17-Feb-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-291541\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>At the time of writing, FIL jumped 25% over the previous day. Filecoin&#8217;s daily cumulative revenue over the last 180 days was second only to Ethereum. After facing considerable stress for most parts of 2022, Filecoin&#8217;s [FIL] bullish rally made impressive gains since the beginning of 2023. The coin surged 25% over the previous day<a href=\"https:\/\/ambcrypto.com\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\/\">Continue reading <span class=\"sr-only\">&#8220;Filecoin [FIL] makes a stunning comeback in 2023, is this the reason?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":291549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-291501","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Filecoin [FIL] makes a stunning comeback in 2023, is this the reason? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"After facing considerable stress for most parts of 2022, Filecoin&#039;s [FIL]\u00a0bullish rally made impressive gains since the beginning of 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Filecoin [FIL] makes a stunning comeback in 2023, is this the reason? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"At the time of writing, FIL jumped 25% over the previous day. Filecoin&#039;s daily cumulative revenue over the last 180 days was second only to Ethereum.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-18T02:30:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Filecoin-7.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"798\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Saman Waris\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SamanWaris11\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saman Waris\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\\\/\"},\"author\":{\"name\":\"Saman Waris\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\"},\"headline\":\"Filecoin [FIL] makes a stunning comeback in 2023, is this the reason?\",\"datePublished\":\"2023-02-18T02:30:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\\\/\"},\"wordCount\":422,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Filecoin-7.jpg\",\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/filecoin-fil-makes-a-stunning-comeback-in-2023-is-this-the-reason\\\/\",\"name\":\"Filecoin [FIL] makes a stunning comeback in 2023, is this the reason? 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