{"id":520096,"date":"2023-02-17T22:20:29","date_gmt":"2023-02-17T22:20:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=520096"},"modified":"2023-02-17T22:20:29","modified_gmt":"2023-02-17T22:20:29","slug":"fil-price-surges-smart-contract-development-on-filecoin","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/fil-price-surges-smart-contract-development-on-filecoin\/","title":{"rendered":"FIL Price Surges 25.8% Following Smart Contract Development on Filecoin"},"content":{"rendered":"<p><span style=\"font-weight: 400\">As per Coinmarketcap, Filecoin has surged by 25.8% in the last 24 hours; following new reports, this network plans to launch smart contracts on March 23 to make it a fully-fledged layer 1 protocol. With this news, the token&#8217;s price has seen an impressive uptrend.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Smart Contract Platform Deployment A Catalyst For A Rally<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As explained above, one of the primary reasons behind Filecoin&#8217;s bullish trend and surge in trading volume is the massive number of users flocking to the platform.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/fil\/filecoin-registers-40-increase-in-a-week-can-fil-hit-7\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Filecoin Registers 40% Increase In A Week \u2013 Can FIL Hit $7?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Today, Filecoin<\/span><a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/66266369\" target=\"_blank\" rel=\"noopener nofollow\"> <span style=\"font-weight: 400\">announced<\/span><\/a><span style=\"font-weight: 400\"> plans to launch the Filecoin Virtual Machine (FVM) on March 23. The introduction of the FVM is expected to bring smart contracts and user programmability to the Filecoin Mainnet.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Filecoin is<\/span> <span style=\"font-weight: 400\">making<\/span><span style=\"font-weight: 400\"> this development stamp itself as a leader in the already competitive Layer-1 blockchain ecosystem.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The blockchain has nearly 14 EiB storage capacities and more than 3,800 storage providers. It is currently the largest decentralized storage network in the world. In the Layer-1 space, <a href=\"https:\/\/uniquehot.com\/press-releases\/polkadot-and-filecoin-investors-flock-to-the-big-eyes-coin-presale\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Filecoin has a competitive advantage in storage services and offers services to other L-1 blockchains.<\/a> <\/span><\/p>\n<p><span style=\"font-weight: 400\">The blockchain has nearly 14 EiB storage capacities and more than 3,800 storage providers. It is currently the largest decentralized storage network in the world.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To become more competitive within the centralized cloud, the blockchain is looking to grow more than ten times from where it currently stands.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Filecoin aims to become more significant than a storage network project and has been committed to developing the decentralized infrastructure required to enable programmable storage (through smart contracts), data recovery, and data computation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The launch of smart contracts through the FVM is expected to enhance Filecoin&#8217;s storage services and enable several use cases associated with the Web3 space, like perpetual storage, DeFi, DataDAOs, NFTs, gaming, and so on.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Smart contracts on Filecoin will be able to deploy Web3 offerings with real-world services like computing and storage, provided by an open market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The FVM is compatible with the Ethereum Virtual Machine (EVM) and will enable the blockchain to support multiple VMs (virtual machines). This will help the Filecoin network to offer massive benefits to the open data economy and serve many users.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/press-releases\/dogeliens-litecoin-or-filecoin-which-one-will-be-the-best-pick-amid-the-bear-market-trend\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Dogeliens, Litecoin, or Filecoin, which one will be the Best Pick Amid the Bear market trend?<\/a><\/div>\n<h2><span style=\"font-weight: 400\">Filecoin price action<\/span><\/h2>\n<p><span style=\"font-weight: 400\">According to<\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/filecoin\/\" target=\"_blank\" rel=\"noopener nofollow\"> <span style=\"font-weight: 400\">Coinmarketcap<\/span><\/a><span style=\"font-weight: 400\">, Filecoin is currently trading at $7.41. That represents a price increase of 25.8% in the last 24 hours. It also shows a 61.50% price uptick in the last seven days. The coin rose by 66.6% in the last 30 days.\u00a0<\/span><\/p>\n<figure style=\"width: 2228px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/Z0GVllkT\/\" alt=\"Filecoin price chart on TradingView\" width=\"2228\" height=\"1372\"><figcaption class=\"wp-caption-text\">Filecoin price is moving sideways on the 4-hour chart. Source: Filecoin\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=KUCOIN%3AFILUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">FIL reached its<a href=\"https:\/\/uniquehot.com\/press-releases\/dogeliens-litecoin-or-filecoin-which-one-will-be-the-best-pick-amid-the-bear-market-trend\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \"> highest price<\/a> of $236.84 on April 1, 2021, which shows that the current value is 96.73%, down from its all-time high price. The coin reached its lowest price of $2.64 on December 16, 2022. The current price is, therefore, 192.88% higher than its all-time low price.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Its trading volume is $1.3 billion, representing a 533.10% rise from the previous day. It also signals a recent increase in its market capitalization. FIL has a \u00a0market cap of $2.9 billion.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Shutterstock, Chart from TradingView.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As per Coinmarketcap, Filecoin has surged by 25.8% in the last 24 hours; following new reports, this network plans to launch smart contracts on March 23 to make it a fully-fledged layer 1 protocol. With this news, the token&#8217;s price has seen an impressive uptrend. Smart Contract Platform Deployment A Catalyst For A Rally As explained above, one of the primary reasons behind Filecoin&#8217;s bullish trend and surge in trading volume is the massive number of users flocking to the platform. Related Reading: Filecoin Registers 40% Increase In A Week \u2013 Can FIL Hit $7? Today, Filecoin announced plans to launch the Filecoin Virtual Machine (FVM) on March 23. The introduction of the FVM is expected to bring smart contracts and user programmability to the Filecoin Mainnet.\u00a0 Filecoin is making this development stamp itself as a leader in the already competitive Layer-1 blockchain ecosystem. The blockchain has nearly 14 EiB storage capacities and more than 3,800 storage providers. It is currently the largest decentralized storage network in the world. In the Layer-1 space, Filecoin has a competitive advantage in storage services and offers services to other L-1 blockchains. The blockchain has nearly 14 EiB storage capacities and more than 3,800 storage providers. It is currently the largest decentralized storage network in the world. To become more competitive within the centralized cloud, the blockchain is looking to grow more than ten times from where it currently stands. Filecoin aims to become more significant than a storage network project and has been committed to developing the decentralized infrastructure required to enable programmable storage (through smart contracts), data recovery, and data computation.\u00a0 The launch of smart contracts through the FVM is expected to enhance Filecoin&#8217;s storage services and enable several use cases associated with the Web3 space, like perpetual storage, DeFi, DataDAOs, NFTs, gaming, and so on. Smart contracts on Filecoin will be able to deploy Web3 offerings with real-world services like computing and storage, provided by an open market. The FVM is compatible with the Ethereum Virtual Machine (EVM) and will enable the blockchain to support multiple VMs (virtual machines). This will help the Filecoin network to offer massive benefits to the open data economy and serve many users. Related Reading: Dogeliens, Litecoin, or Filecoin, which one will be the Best Pick Amid the Bear market trend? Filecoin price action According to Coinmarketcap, Filecoin is currently trading at $7.41. That represents a price increase of 25.8% in the last 24 hours. It also shows a 61.50% price uptick in the last seven days. The coin rose by 66.6% in the last 30 days.\u00a0 FIL reached its highest price of $236.84 on April 1, 2021, which shows that the current value is 96.73%, down from its all-time high price. The coin reached its lowest price of $2.64 on December 16, 2022. The current price is, therefore, 192.88% higher than its all-time low price. Its trading volume is $1.3 billion, representing a 533.10% rise from the previous day. It also signals a recent increase in its market capitalization. FIL has a \u00a0market cap of $2.9 billion. Featured image from Shutterstock, Chart from TradingView.<\/p>\n","protected":false},"author":580,"featured_media":516386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1020,54512,83424,87865],"class_list":["post-520096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-defi","tag-filecoin","tag-fvm"],"acf":[],"yoast_head":"\n<title>FIL Price Surges 25.8% Following Smart Contract Development on Filecoin<\/title>\n<meta name=\"description\" content=\"Filecoin has surged by 25.8% in the last 24 hours following fresh reports that the Filecoin network plans to launch smart contracts\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"FIL Price Surges 25.8% Following Smart Contract Development on Filecoin","url":"http:\/\/uniquehot.com\/news\/fil-price-surges-smart-contract-development-on-filecoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/fil-price-surges-smart-contract-development-on-filecoin\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?fit=350%2C250"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["blockchain","defi","filecoin","fvm"],"dateCreated":"2023-02-17T22:20:29Z","datePublished":"2023-02-17T22:20:29Z","dateModified":"2023-02-17T22:20:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"FIL Price Surges 25.8% Following Smart Contract Development on Filecoin\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/fil-price-surges-smart-contract-development-on-filecoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/fil-price-surges-smart-contract-development-on-filecoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/DeFi.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/DeFi.jpg?fit=350%2C250\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"blockchain\",\"defi\",\"filecoin\",\"fvm\"],\"dateCreated\":\"2023-02-17T22:20:29Z\",\"datePublished\":\"2023-02-17T22:20:29Z\",\"dateModified\":\"2023-02-17T22:20:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?fit=350%2C250","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/520096"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=520096"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/520096\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/516386"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=520096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=520096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=520096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}