Filecoin (FIL) Price

$2.51

Filecoin (FIL) Price Today

The live price of Filecoin is $2.51 USD. In the past 24 hours, the trading volume of Filecoin was $77.2M USD, with a change of +2.95%. The current live price of Filecoin has changed by 0% from its 7-day high of $- USD and by 0% from its 7-day low of $- USD. With a circulating supply of $1,959,469,068.00 FIL, the market cap of Filecoin is currently $1.6B USD, marking a -55.87% change in the last 24 hours. Filecoin currently ranks 50 by market capitalization.

Filecoin (FIL) Market Data

Market Cap

$1.6B

24h Volume

$77.2M

Circulating Supply

1.9B FIL

Maximum Supply

Fully Diluted Market Cap

$4.9B

Liquidity Indicator

4.55%

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About Filecoin (FIL)

What Is Filecoin (FIL) and How Does It Work?

Filecoin (FIL) is a decentralized storage network designed to turn cloud storage into an open marketplace. Instead of relying on a single company like Google Drive or Dropbox, Filecoin allows anyone with extra storage space to offer it on the network, and anyone needing storage to pay for it using the native FIL token.

Users upload files to the Filecoin network and pay storage providers (also known as miners) in FIL tokens to store those files securely. Providers earn rewards by proving they are storing the files correctly through a process called proof-of-replication and proof-of-spacetime. This ensures that the data remains accessible and tamper-proof over time.

Built on top of the InterPlanetary File System (IPFS), Filecoin brings a blockchain layer to decentralized storage, such as adding incentives, accountability, and smart contract capabilities through the Filecoin Virtual Machine (FVM). Its open structure promotes lower storage costs, redundancy, and censorship resistance, making it a powerful alternative to traditional cloud solutions.

What Can Filecoin Be Used for?

Filecoin is primarily used for decentralized data storage. It allows users and organizations to store files in a secure, distributed network, where costs are competitive and control remains with the user, not a central company.

Here are the main use cases:

1. Personal Cloud Storage: Individuals can back up important documents, photos, and videos on a decentralized system instead of using centralized services like Google Drive or Dropbox.

2. Enterprise Data Archiving: Companies can store large datasets such as records, logs, and backups affordably and with improved data integrity.

3. Web3 and dApp Development: Filecoin supports decentralized applications (dApps) and platforms that need storage for NFTs, metadata, or user-generated content.

4. Scientific and Public Datasets: Institutions can publish large datasets, like climate data or genomic research, on Filecoin for open access with assured availability.

5. Token Incentives and Smart Contracts: Through the Filecoin Virtual Machine (FVM), developers can create smart contracts and incentivize user behavior tied to data usage, retrieval, or contribution.

Who Founded Filecoin and When Was It Launched?

Filecoin was founded by Juan Benet, a computer scientist and entrepreneur best known for creating the InterPlanetary File System (IPFS). Both IPFS and Filecoin were developed by Protocol Labs, a research and development company he launched in 2014 to build open-source internet infrastructure.

Filecoin’s journey began with a whitepaper released in 2014, laying the foundation for a decentralized storage marketplace. The project gained major traction in 2017, when it raised over $200 million through an initial coin offering (ICO), one of the largest at that time.

The mainnet officially launched on October 15, 2020, marking the start of live decentralized storage operations and FIL token economics.

Key Milestones in the Filecoin Roadmap

- 2014 – Filecoin whitepaper published by Juan Benet.

- 2017 – ICO raises $200+ million, attracting institutional interest.

- 2020 – Filecoin mainnet goes live with global storage providers onboard.

- 2022 – Launch of the Filecoin Plus program to reward verified storage.

- 2023 – Introduction of the Filecoin Virtual Machine (FVM) for smart contracts.

- 2024-2025 – Expansion of the DeFi, AI, and Web3 ecosystem on Filecoin; onboarding of enterprise clients and cross-chain integrations.

What Are the Use Cases of FIL Token?

The FIL token powers the Filecoin network by acting as a medium of exchange between users who want to store data and storage providers who offer space. It’s also used for transaction fees, collateral for storage deals, and network governance through the FVM.

You can buy, sell, or trade FIL tokens easily on the BingX spot market to participate in the decentralized storage economy or invest in the future of Web3 infrastructure.

What Is Filecoin Tokenomics?

Filecoin (FIL) has a total maximum supply of 2 billion tokens, designed to incentivize decentralized storage and ensure long-term sustainability of the network. Here’s a breakdown of how FIL tokens are distributed:

1. 70% for Mining Rewards: Allocated to storage and retrieval miners as incentives for offering reliable storage and bandwidth. These are released gradually through a mechanism called "baseline minting."

2. 15% for Protocol Labs (Team & Contributors): Vested over a 6-year period to support ongoing development and innovation.

3. 10% for Filecoin Foundation: Used for governance, ecosystem growth, and community initiatives.

4. 5% for Investors: Early investors who participated in the 2017 ICO, with vesting schedules to align long-term interests.

Filecoin’s economic model also includes collateral requirements. Storage providers must lock up FIL as a performance bond, which gets slashed if they fail to meet their commitments. This promotes network integrity and reliability.

How Does Filecoin Differ From Traditional Cloud Storage?

Filecoin offers a decentralized alternative to traditional cloud storage services like Amazon S3, Google Drive, or Dropbox. Instead of relying on centralized servers owned by a single company, Filecoin uses a global network of independent storage providers who rent out their unused hard drive space. This distributed model enhances data redundancy, reduces the risk of single points of failure, and promotes censorship resistance. Users retain full control over their data, and no central authority can unilaterally restrict access.

Another key difference is the economic model. In Filecoin’s network, users pay with FIL tokens based on supply and demand in a free market, often resulting in more competitive pricing compared to conventional providers. Storage providers must also prove they are reliably storing files through cryptographic proofs, adding a layer of verifiability that traditional platforms don’t offer. Filecoin’s open-source nature and blockchain integration enable transparency, programmable incentives, and community governance, making it a foundational tool for the Web3 ecosystem.

What Is the Filecoin Virtual Machine (FVM)?

The Filecoin Virtual Machine (FVM) is a smart contract platform built on top of the Filecoin network, enabling developers to create dApps that interact directly with on-chain storage. Launched in early 2023, the FVM brings programmability to Filecoin by allowing smart contracts, called “actors” in Filecoin’s architecture, to execute logic around storage deals, tokenized assets, governance, and more. It supports EVM compatibility, meaning developers familiar with Ethereum can deploy Solidity-based contracts using familiar tools like MetaMask, Hardhat, and Remix.

FVM unlocks powerful new use cases such as automated storage marketplaces, DAO-controlled storage policies, tokenized data vaults, and DeFi protocols that leverage real-world data. By combining compute logic with verifiable storage, FVM bridges the gap between data and smart contracts, paving the way for applications in AI, gaming, NFTs, and data DAOs. It transforms Filecoin from a passive storage network into an active programmable layer for the decentralized web.

Where to Store FIL Tokens Securely

The simplest and most convenient way to store your FIL tokens is on BingX. When you buy or trade FIL on the BingX spot market, your tokens are automatically held in your secure BingX wallet. This option is ideal for active traders who want fast access to buying, selling, or converting FIL with low fees and no need to manage private keys. BingX also offers two-factor authentication (2FA), withdrawal whitelists, and cold wallet storage for enhanced security.

For users who prefer self-custody, you can store FIL tokens in non-custodial wallets that support Filecoin. Options include Filfox Wallet, Glif Wallet, and hardware wallets like Ledger, which offer high levels of security for long-term storage. These wallets allow you to control your private keys and interact with the Filecoin network directly, including sending, receiving, or staking FIL. Always ensure your recovery phrases are stored safely offline and never shared to maintain full control of your assets.

What Makes Filecoin (FIL) a Good Investment?

Filecoin stands out as a long-term investment because it addresses a real-world need: decentralized, secure, and cost-effective data storage. As the demand for cloud storage grows, with everything from AI training data to Web3 applications, Filecoin offers a scalable alternative to traditional providers. Its use of blockchain technology ensures data integrity, reduces dependency on centralized entities, and opens up a competitive storage market powered by smart contracts and cryptographic proofs. FVM's launch has further unlocked DeFi, NFT, and DAO use cases, expanding the network’s utility beyond simple file storage.

Additionally, Filecoin benefits from strong fundamentals and institutional backing. Developed by Protocol Labs and supported by a global community, the project raised over $200 million in its ICO and continues to attract partnerships across tech, science, and government sectors. With a clear tokenomics model, real economic incentives for participants, and a growing ecosystem, FIL has become a foundational asset in the decentralized infrastructure stack, offering both utility and upside potential for forward-looking investors.

Information source

Official Website

Whitepaper

Filecoin (FIL) Price Converter

FIL to USD

1 FIL = $ 2.51

FIL to VND

1 FIL = ₫ 65,449.32

FIL to EUR

1 FIL = € 2.20

FIL to TWD

1 FIL = NT$ 75.19

FIL to IDR

1 FIL = Rp 40,987.72

FIL to PLN

1 FIL = zł 9.44

FIL to UZS

1 FIL = so'm 32,129.30

FIL to JPY

1 FIL = ￥ 363.91

FIL to RUB

1 FIL = ₽ 197.34

FIL to TRY

1 FIL = ₺ 98.52

FIL to THB

1 FIL = ฿ 82.02

FIL to UAH

1 FIL = ₴ 104.03

FIL to SAR

1 FIL = ر.س 9.42

Filecoin Price Converter

How to Buy Filecoin (FIL)

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How to Buy FIL Guide

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Disclaimer:

By accessing and using this platform, you agree to comply with our Terms of Use.

For more detailed information, please refer to our Risk Disclosure Statement.