Share this article
Filecoin Gains as Much as 9% as the Token Breaks Out on High Volume
The rally in FIL came as crypto markets surged higher with the Coindesk CD20 index rising 7%.
Updated Jul 11, 2025, 10:47 a.m. Published Jul 11, 2025, 10:47 a.m.
What to know:
- Filecoin rose as much as 9% as crypto markets surged higher.
- Bitcoin, the world's largest crypto, also hit a new record high.
Filecoin exhibited remarkable bullish strength in the last 24 hours, climbing from $2.44 to $2.65 in a decisive 9% advance, according to CoinDesk Research's technical analysis model.
The momentum intensified notably during the 16:00-21:00 timeframe on July 10, as price rocketed from $2.44 to $2.58 amid extraordinary trading volume of 8.18 million tokens at the 21:00 mark, significantly exceeding the 24-hour average of 3.67 million, the model showed.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Price broke through key resistance levels at $2.60-$2.61 with strong volume support, according to the model.
The move higher in Filecoin came amid an explosive rally in crypto markets, with the broader market gauge, the Coindesk 20, recently up 7%.
Bitcoin , the world's largest cryptocurrency, also hit a new record high of $118,739.
In recent trading, FIL was up 7.3% over 24 hours, trading around $2.62.
Technical Analysis:
- Exceptional volume of 8.18 million tokens during 21:00 hour, well above 24-hour average of 3.67 million.
- Price broke through key resistance levels at $2.60-$2.61 with strong volume support.
- Key support emerged at $2.43 with multiple successful retests throughout the session.
- Asset maintained higher lows throughout session, confirming uptrend integrity.
- Classic technical pattern with tight range oscillation followed by decisive upward thrust.
- Strategic volume increases during 09:15-09:17 window with 120,066 and 78,189 tokens respectively.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Bitcoin will be 'top performer' in 2026 after getting crushed this year, says VanEck
VanEck's David Schassler expects gold and bitcoin to rebound sharply as investor demand for hard assets is expected to rise.
What to know:
- Bitcoin has underperformed compared to gold and the Nasdaq 100 this year, but a VanEck manager predicts a strong comeback in 2026.
- David Schassler, the firm's head of multi-asset solutions, expects gold's surge to continue to $5,000 next year as fiscal "debasement" accelerates.
- Bitcoin will likely follow gold’s breakout, driven by returning liquidity and long-term demand for scarce assets.
Top Stories
