Cryptocurrency Filecoin Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Filecoin (CRYPTO: FIL) has seen a price decrease of 3.38% over the past 24 hours, now at $7.27, despite a 33.0% increase over the past week. The trading volume surged by 116.0%, and the circulating supply rose by 1.26% to 490.72 million, which is 25.02% of the max supply. Filecoin's market cap is currently ranked #28 at $3.57 billion.
January 02, 2024 | 7:02 pm
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NEGATIVE IMPACT
Filecoin (FIL) experienced a short-term price decline of 3.38% to $7.27, after a week of gains. The increase in trading volume and circulating supply may indicate heightened investor interest.
The short-term price decline of Filecoin could lead to negative sentiment among investors, potentially causing a further drop in price. However, the increased trading volume and circulating supply suggest that there is active interest in the coin, which could mitigate the impact of the price drop. The recent uptrend over the past week may also provide some support to the price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100