{"id":459708,"date":"2021-03-26T21:06:44","date_gmt":"2021-03-26T21:06:44","guid":{"rendered":"https:\/\/wncen.com\/?p=459708"},"modified":"2021-03-26T21:11:18","modified_gmt":"2021-03-26T21:11:18","slug":"how-filecoin-is-up-50-in-a-week-and-could-take-more-profits","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/how-filecoin-is-up-50-in-a-week-and-could-take-more-profits\/","title":{"rendered":"How Filecoin is up 50% in a week and could take more profits"},"content":{"rendered":"<p>After a week of significant gains, <a href=\"https:\/\/wncen.com\/analysis\/fil\/filecoin-fil-surges-30-amid-massive-short-squeeze\/\">Filecoin (FIL)<\/a> is shaping up to become one of the biggest earning cryptocurrencies of the month. Journalist Colin Wu has <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/73009413\" target=\"_blank\" rel=\"nofollow\">recorded<\/a> increasing interest in the cryptocurrency and its file-sharing platform:<\/p>\n<blockquote><p>Filecoin surpassed $100, benefiting a large number of Chinese miners and investors. Reasons: the first investor token will be released over, Coinbase launched new storage tokens, the dual mining test of Filecoin and LPT started, the cooperation between Filecoin and LINK, etc. (\u2026) A lot of Chinese funds are entering this industry.<\/p><\/blockquote>\n<h2>Grayscale announcement and Chainlink&#8217;s partnership<\/h2>\n<p>With an annualized fee of 2.5% and $1.3 million in assets under management, investment firm <a href=\"https:\/\/wncen.com\/news\/grayscale-launches-5-new-trust-includes-link-bat-fil\/\">Grayscale announced its Filecoin-based trust.<\/a> The firm&#8217;s product will hold 16,000 outstanding shares that will be worth 0.99 FIL per share.<\/p>\n<p>Another announcement around Filecoin that has positively impacted its price was consolidated with Chainlink. The cooperation will allow Filecoin&#8217;s integration with Chainlink&#8217;s oracle service to form &#8220;a bi-directional connection&#8221;:<\/p>\n<blockquote><p>As a result, smart contract developers will have a full Web 3.0 infrastructure stack including blockchains for on-chain logic and state changes, Chainlink oracles for off-chain communication and computation, and Filecoin for decentralized storage and data solutions.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Decentralized storage network <a href=\"https:\/\/twitter.com\/Filecoin?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@Filecoin<\/a> will integrate <a href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Chainlink<\/a> oracles to create an end-to-end Web 3.0 development stack, enabling bidirectional communication between Filecoin and smart contracts for novel use cases like <a href=\"https:\/\/twitter.com\/hashtag\/NFT?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#NFT<\/a> insurance and DataDAOs. <a href=\"https:\/\/t.co\/vppVr5J1FR\" rel=\"nofollow\">https:\/\/t.co\/vppVr5J1FR<\/a><\/p>\n<p>&mdash; Chainlink (@chainlink) <a href=\"https:\/\/twitter.com\/chainlink\/status\/21854208?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 24, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In Grayscale&#8217;s latest report, the firm reported $40.3 billion in assets under management. The Grayscale Bitcoin Trust (GBTC) continues as the largest product with $34 billion of that total, followed by the Grayscale Ethereum Trust (GETH) with $5 billion.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">03\/25\/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.<\/p>\n<p>Total AUM: $40.3 billion<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BCH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BCH<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ZEN&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ZEN<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$LTC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24XLM&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$XLM<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ZEC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ZEC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BAT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BAT<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$LINK<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24MANA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$MANA<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24FIL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$FIL<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24LPT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$LPT<\/a> <a href=\"https:\/\/t.co\/aENPbf1Up3\" rel=\"nofollow\">pic.twitter.com\/aENPbf1Up3<\/a><\/p>\n<p>&mdash; Grayscale (@Grayscale) <a href=\"https:\/\/twitter.com\/Grayscale\/status\/62135305?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 25, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><a href=\"https:\/\/wncen.com\/analysis\/fil\/filecoin-fil-shoots-25-higher-as-buyers-step-back-in\/\">Filecoin has managed to make significant gains<\/a>, as mentioned, over the past week with a 27% rise to stand at an all-time high of $115. On the weekly and monthly charts, FIL shows gains of 177.1% and 229% respectively.<\/p>\n<figure id=\"attachment_459709\" aria-describedby=\"caption-attachment-459709\" style=\"width: 722px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-459709 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/Filecoin-FIL.jpg?resize=722%2C356\" alt=\"Filecoin FIL\" width=\"722\" height=\"356\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/Filecoin-FIL.jpg?w=722 722w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/Filecoin-FIL.jpg?w=460 460w\" sizes=\"auto, (max-width: 722px) 100vw, 722px\"><figcaption id=\"caption-attachment-459709\" class=\"wp-caption-text\">Filecoin with strong upside momentum. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/a4lKch7J\/\" rel=\"nofollow\">FILEUSDT Tradingview<\/a><\/figcaption><\/figure>\n<p>The partnerships that have merged on Filecoin&#8217;s platform have given it the momentum to defy the downtrend negatively affecting Bitcoin&#8217;s price. Investors\u2019 confidence in China and more buying pressure from Grayscale&#8217;s product might continue to push FIL\u2019s price to new highs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a week of significant gains, Filecoin (FIL) is shaping up to become one of the biggest earning cryptocurrencies of the month. Journalist Colin Wu has recorded increasing interest in the cryptocurrency and its file-sharing platform: Filecoin surpassed $100, benefiting a large number of Chinese miners and investors. Reasons: the first investor token will be released over, Coinbase launched new storage tokens, the dual mining test of Filecoin and LPT started, the cooperation between Filecoin and LINK, etc. (\u2026) A lot of Chinese funds are entering this industry. Grayscale announcement and Chainlink&#8217;s partnership With an annualized fee of 2.5% and $1.3 million in assets under management, investment firm Grayscale announced its Filecoin-based trust. The firm&#8217;s product will hold 16,000 outstanding shares that will be worth 0.99 FIL per share. Another announcement around Filecoin that has positively impacted its price was consolidated with Chainlink. The cooperation will allow Filecoin&#8217;s integration with Chainlink&#8217;s oracle service to form &#8220;a bi-directional connection&#8221;: As a result, smart contract developers will have a full Web 3.0 infrastructure stack including blockchains for on-chain logic and state changes, Chainlink oracles for off-chain communication and computation, and Filecoin for decentralized storage and data solutions. Decentralized storage network @Filecoin will integrate #Chainlink oracles to create an end-to-end Web 3.0 development stack, enabling bidirectional communication between Filecoin and smart contracts for novel use cases like #NFT insurance and DataDAOs. https:\/\/t.co\/vppVr5J1FR &mdash; Chainlink (@chainlink) March 24, 2021 In Grayscale&#8217;s latest report, the firm reported $40.3 billion in assets under management. The Grayscale Bitcoin Trust (GBTC) continues as the largest product with $34 billion of that total, followed by the Grayscale Ethereum Trust (GETH) with $5 billion. 03\/25\/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products. Total AUM: $40.3 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC $BAT $LINK $MANA $FIL $LPT pic.twitter.com\/aENPbf1Up3 &mdash; Grayscale (@Grayscale) March 25, 2021 Filecoin has managed to make significant gains, as mentioned, over the past week with a 27% rise to stand at an all-time high of $115. On the weekly and monthly charts, FIL shows gains of 177.1% and 229% respectively. The partnerships that have merged on Filecoin&#8217;s platform have given it the momentum to defy the downtrend negatively affecting Bitcoin&#8217;s price. Investors\u2019 confidence in China and more buying pressure from Grayscale&#8217;s product might continue to push FIL\u2019s price to new highs.<\/p>\n","protected":false},"author":535,"featured_media":458942,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,83442],"tags":[83425,83424,83429],"class_list":["post-459708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-filecoin","tag-fil","tag-filecoin","tag-filusdt"],"acf":[],"yoast_head":"\n<title>How Filecoin is up 50% in a week and could take more profits<\/title>\n<meta name=\"description\" content=\"After a week of significant gains, Filecoin (FIL) is shaping up to become one of the biggest earning cryptocurrencies of the month. 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In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"How Filecoin is up 50% in a week and could take more profits","url":"http:\/\/wncen.com\/news\/how-filecoin-is-up-50-in-a-week-and-could-take-more-profits\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/how-filecoin-is-up-50-in-a-week-and-could-take-more-profits\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/Basic-Attention-Token-Filecoin-FIL-Chainlink-LINK.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/Basic-Attention-Token-Filecoin-FIL-Chainlink-LINK.jpg?fit=702%2C525"},"articleSection":"Filecoin","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["fil","filecoin","filusdt"],"dateCreated":"2021-03-26T21:06:44Z","datePublished":"2021-03-26T21:06:44Z","dateModified":"2021-03-26T21:11:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"How Filecoin is up 50% in a week and could take more profits\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/how-filecoin-is-up-50-in-a-week-and-could-take-more-profits\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/how-filecoin-is-up-50-in-a-week-and-could-take-more-profits\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/Basic-Attention-Token-Filecoin-FIL-Chainlink-LINK.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/Basic-Attention-Token-Filecoin-FIL-Chainlink-LINK.jpg?fit=702%2C525\"},\"articleSection\":\"Filecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"fil\",\"filecoin\",\"filusdt\"],\"dateCreated\":\"2021-03-26T21:06:44Z\",\"datePublished\":\"2021-03-26T21:06:44Z\",\"dateModified\":\"2021-03-26T21:11:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/Basic-Attention-Token-Filecoin-FIL-Chainlink-LINK.jpg?fit=702%2C525","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/459708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=459708"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/459708\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/458942"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=459708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=459708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=459708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}