Latest Filecoin News

Top DePIN Cryptos to Watch: Bittensor, Filecoin, and Render are poised to outperform in the future. Bittensor's market cap reached $2.025 billion, with a 55% increase in trading volume. Filecoin shows strong fundamentals with a high score of 9.7/10. Render experienced a surge in derivatives trading volume. Despite challenges, these projects exhibit potential for growth.

RENDER, Arweave, and Filecoin prices are analyzed in the latest report. RENDER has surged by 40% in a week, defending the demand zone. AR struggles near $45, while Filecoin triggers a breakout from a falling wedge pattern. RENDER shows bullishness, AR may reclaim $50, and Filecoin eyes the 200-day EMA for a bullish momentum.

Decentralized Physical Infrastructure Projects (DePIN) are booming in funding, with a 296% increase in seed investments, reaching a total market valuation of 20 billion dollars. IoTeX and peaq have raised significant amounts, reflecting growing investor interest. These projects aim to decentralize critical physical infrastructures, ushering in new economic models. While new players challenge established giants like Filecoin and Helium, profitability remains a challenge. Success lies in turning technological promises into widely adopted products.

Decentralized Physical Infrastructure Networks (DePin) are the new trend in the crypto world, aiming to decentralize physical infrastructure management using blockchain technology. Innovative projects like Render, Akash Network, Helium, and Filecoin offer secure and transparent solutions. Among them, Shieldeum stands out with its AI-powered cybersecurity application, providing enhanced protection for crypto users against cyber threats. DePin networks represent a significant revolution in the crypto space, democratizing access to physical infrastructures while ensuring data and transaction security.

BlockDAG's X1 mining app has surged to 100,000 users, raising over $65.6 million in its presale. Filecoin and Bitcoin Cash holders are closely monitoring the project as it outperforms major coins in the market. Filecoin faces challenges after a significant drop post-March correction, while Bitcoin Cash shows mixed sentiment with a potential 15% rise. BlockDAG's X1 app has turned smartphones into mining devices, attracting high investor interest and achieving a 1600% price surge. With a promising future and innovative technology, BlockDAG is set to deliver substantial returns, making it a top choice for investors seeking groundbreaking projects.

In Q2’24, Filecoin saw a 6% drop in active storage deals but a growth in storage utilization from 23% to 26%. Over 2,000 clients have onboarded data, with 518 adding large datasets over 1,000 TiB. The Filecoin Virtual Machine (FVM) has over 3,700 unique contracts, with a total value locked (TVL) reaching an all-time high of 63 million FIL. Filecoin is developing as a decentralized physical infrastructure network, offering new data services and aiming to increase enterprise adoption. Protocol upgrades like the FVM and Interplanetary Consensus (IPC) are enabling compute-over-data services, which are crucial for the network's growth.

The Filecoin network is set to undergo the NV23 upgrade, also known as 'Waffle', aimed at improving network performance and integration with the broader blockchain ecosystem. South Korean exchange Upbit will temporarily freeze Filecoin (FIL) deposits and withdrawals starting August 6 to ensure a smooth transition during the upgrade. Users need not worry about their assets as services are expected to resume once the upgrade is complete. The upgrade will bring benefits such as faster transaction processing, simplified storage additions, and support for legacy Ethereum transactions. Stay tuned for updates on the NV23 upgrade and service resumption through official channels.

Lava Network has launched its public mainnet with $2 million in incentive pools from supported ecosystems, attracting high-quality infrastructure providers like Google Cloud. The mainnet debut features the community-first launch of the LAVA token, aiming to increase decentralization and participation. With support from Filecoin Network, Starknet Foundation, and Cosmos Hub, Lava Network focuses on providing quality nodes to boost interoperability and network reliance. Illia Polosukhin, Co-Founder of NEAR Protocol, praised Lava Network for decentralizing the NEAR RPC layer and improving the experience for developers and users.

Filecoin's upcoming 'Waffle' upgrade, NV23, is set to enhance the network's performance and integrate Ethereum transactions, aiming to improve storage efficiency and broaden ecosystem integration. Key features include a soft launch of Fast Finality, support for legacy Ethereum transactions, and a non-interactive proof of replication to streamline the sector sealing process. These improvements are expected to accelerate network growth, open cross-chain applications, and reduce transaction confirmation times. Additionally, Filecoin is collaborating with AI projects to advance decentralized AI infrastructure, emphasizing its role in the AI data storage space.

Filecoin's price surges with the announcement of the Waffle network update, set for August 2024, promising performance enhancements and new capabilities. The update includes support for Ethereum transactions and a non-interactive proof of replication. Filecoin's strategic partnership with SingularityNET aims to revolutionize AI data storage, positioning Filecoin as a leading DePIN project for AI. The price rally is supported by an increase in trading volume and positive technical indicators, with the potential to break resistance levels for continued growth.