One Cryptocurrency Sustaining Above the Support Levels- Filecoin (FIL)

Cryptocurrency Report.

One Cryptocurrency Sustaining Above the Support Levels- Filecoin (FIL)

19 December 2024

| Read Time :5:00 Mins

FIL

Investment Type

Crypto

Risk Level

Action

Rec. Price (US$)

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Filecoin (FIL) is a blockchain-powered decentralized cloud storage platform. Because they have their own token and were among the first blockchain initiatives to offer the idea of a decentralized storage network. FIL has a market capitalization of ~USD 3.33 billion (as per TradingView as of December 19, 2024).

Last week, the benchmark S&P Cryptocurrency Broad Digital Market (BDM) Index started on a negative note and maintained a bearish momentum for the entire week. The index declined by 126.40 points (~1.90%) to 6526.13 for the week ending December 13, 2024. In the current week starting December 16, 2024, the index is trading with negative momentum. Moreover, other major cryptocurrencies, such as Bitcoin and Ethereum, are witnessing negative momentum for the current week.

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