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Filecoin (FIL) surprisingly leads the altcoin charge today as the price jumped as much as 17.2% to $5.41, marking one of the coin’s most impressive daily rises in the last month. This growth has further expanded Filecoin’s positive outlook over the past month, where the coin has skyrocketed as much as 32.47%.
Filecoin’s growth is supported by several other key metrics, including its trading volume. Current data points to renewed optimism among market buyers as total trading volume in the last 24 hours has increased by 77% to $405,508,100. With this volume prepared, it shows that FIL’s resurgence is backed by true market demand, thanks to the deep liquidity that the protocol enjoys on the respective exchanges where it is listed.
Despite the previously visible setbacks, this week is an important one for Filecoin as it will appear at the LabWeek 2023 event. Here, the Filecoin team is prepared to showcase the upcoming advancements that will catapult the protocol into its next phase of evolution. Projected innovations to be discussed include ZK Proofs, decentralized storage, artificial intelligence (AI), and blockchain, among others.
Filecoin’s pivot into new areas like ZK Proofs and AI could explain why investors are becoming bullish on the protocol as they assume the future looks bright.
Leveraging the momentum of FVM
Filecoin is a protocol that understands what it takes to evolve with the trend. The protocol demonstrated this when it launched the Filecoin Virtual Machine (FVM) earlier this year as it seeks to gain a more direct link to the Ethereum ecosystem.
It’s still unclear what their initial plans are for ZK Proofs and AI, but considering how these two technologies are the main buzzwords in the Web3.0 ecosystem today, plugging into the trend shows that Filecoin is in touch with reality. and the community is excited. about future possibilities.
