Solana

Filecoin

when

In February 2024, the overall cryptocurrency landscape exhibits remarkable upward momentum. This substantial increase in the <a href="https://news.todayq.com/jup-and-sol-prices-soar-amid-jupiters-airdrop-waves/" rel="noopener noreferrer nofollow">prices of various cryptocurrencies</a> is attributed to ongoing developments in their respective projects and collaborations. Notably, on February 20, 2024, Filecoin’s FIL demonstrated a significant increase of over 16%, capturing the attention of many. Why Filecoin price is increasing? 
However, the major reason behind this significant price surge is caused by the recent integration of Filecoin and Solana. <a href="https://news.todayq.com/wp-admin/post-new.php?post_type=post&amp;calypsoify=1" target="_blank" rel="noopener noreferrer nofollow">Solana’s integration with Filecoin</a> marks a significant shift away from centralized storage solutions, signaling a substantial boost to the reliability and scalability of the Solana blockchain.
By tapping into Filecoin’s decentralized storage capabilities, Solana aims to enhance the accessibility and usability of its block history for infrastructure providers, explorers, indexers, and anyone requiring historical access. This collaboration enables Solana to achieve data redundancy, scalability, and heightened security, aligning with its commitment to decentralization.
However, the partnership highlights the potential of blockchain networks to build more robust and resilient ecosystems, benefiting both users and developers alike. With this integration, it is observed that the price of FIL has significantly surged by over 16%.&nbsp;
Furthermore, this substantial price surge occurred within just 24 hours. When examining FIL over a more extended period, in the last 7 days, the price of Filecoin’s FIL has seen an increase of over 37% in upside momentum. Meanwhile, over the past 30 days, FIL has witnessed a surge of over 38% in upside momentum. Filecoin technical analysis and price performance 
According to expert technical analysis, Filecoin’s FIL appears bullish as, on a daily time frame, it is trading above the 200 EMA (Exponential Moving Average). However, when examining the FIL chart on a weekly time frame, it is observed that there is no immediate resistance level until $10. Therefore, in the upcoming days, FIL’s price could surge by more than 30%. This potential surge is anticipated due to the positive sentiment prevailing across the cryptocurrency landscape and the ongoing bull run.
In contrast to Filecoin’s FIL, Solana’s SOL has not shown any bullish signs in the last 24 hours, experiencing a 1% downside momentum. Looking at SOL over an extended period, in the last 7 days, SOL’s price recorded a negative 2% downside momentum. Meanwhile, over the past 30 days, SOL demonstrated a significant upside momentum of over 20%.
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Filecoin’s FIL jumps 16%, the reason

Todayq News

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