Filecoin market cap hits $450B after FIL price rallies above $230 By Cointelegraph

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Filecoin market cap hits $450B after FIL price rallies above $230

The fully diluted valuation of Filecoin (FIL), a digital payment and cryptocurrency system built on top of the InterPlanetary File System (IPFS), has reached $450 billion.

Filecoin is a blockchain that enables users to rent unused hard drive space to store and retrieve data. Its model is similar to Snowflake, which completed the biggest software IPO in history in September 2020.

FIL / USDT 4-hour price chart (Binance). Source: TradingView.com