Cryptocurrency Filecoin Decreases More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Filecoin (CRYPTO: FIL) has seen a decrease of 3.79% in its price over the last 24 hours, now at $8.38, continuing a downward trend from the previous week. The trading volume has decreased by 7.0%, while the circulating supply has increased by 1.11%, now at 535.14 million, which is 27.29% of its max supply. Filecoin's market cap ranking is currently #28, with a value of $4.50 billion.
April 10, 2024 | 7:03 pm
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Filecoin (FIL) experienced a 3.79% decrease in price to $8.38 over the last 24 hours, with a week-long downward trend. The trading volume has decreased by 7%, and the circulating supply has increased by 1.11% to 535.14 million.
The decrease in Filecoin's price, coupled with a reduction in trading volume, indicates a bearish sentiment among investors. The increase in circulating supply without a corresponding price increase suggests a potential oversupply, further contributing to the negative price movement. These factors combined make a short-term negative impact on FILUSD likely.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100