Filecoin (FIL) is a cryptocurrency launched in 2020. Users are able to generate FIL through the process of mining. Filecoin has a current supply of 1,959,612,763 with 642,525,376 in circulation. The last known price of Filecoin is 3.10637863 USD and is up 0.43 over the last 24 hours. It is currently trading on 568 active market(s) with $213,630,137.52 traded over the last 24 hours. More information can be found at https://filecoin.io/.
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The crypto market recovered over the past 24 hours as prices rose after experiencing significant declines over the past few sessions. Bitcoin (BTC) dipped to a low of $76,982 on Tuesday before rebounding to reclaim $80,000 and reach $83,737 before losing momentum and declining to its current level.
The crypto market fell back into the red as its market capitalization dropped nearly 11% to $2.75 trillion, erasing all the gains made on Sunday after President Donald Trump's crypto reserve announcement. Sunday's rally began fading on Monday, with Bitcoin (BTC) and other altcoins sliding back to pre-weekend levels.
The crypto market suffered a further decline in early trading, with the market cap declining by nearly 3% and settling at $2.84 trillion. Bitcoin (BTC) and other cryptocurrencies registered substantial declines, with fears of a further decline driving investors to safe-haven assets.
The introduction of a USD stablecoin could significantly enhance Filecoin's ecosystem by increasing accessibility and financial innovation. The post 10x Research: How a FIL Backed USD stablecoin by Secured Finance would boost the Filecoin ecosystem appeared first on Crypto Briefing.