Filecoin (FIL) Price Soars After Mainnet Launch; reaches a market capitalization of $ 900 million

The launch of the Filecoin mainnet has long been highly anticipated, with a large amount of retail and venture capital poured into the cryptocurrency’s initial coin offering of 2017, which raised over $ 205 million. The mainnet launch of the decentralized data and information storage blockchain has been plagued with multiple delays. but they finally began to materialize in late September when they launched their “pre-takeoff phase.” During this time, both users and miners began interacting with the mainnet and preparing for its full launch, which took place today. This blockchain, coupled with the large number of investors from 2017, has made this mainnet launch incredibly hyped, prompting the FIL token price to rally after trading went live in several major platforms today. Although it peaked at $ 80 per token on FTX, its price spiked as high as $ 200 on some other major exchanges like Gemini. Since then, the spread has disintegrated due to arbitrage traders, but the cryptocurrency is still trading significantly above the price at which it was launched today.

Filecoin mainnet goes live 3 years after ICO

Filecoin’s 2017 made big promises and got massive funding, and there’s finally something to show for it. Earlier today, Filecoin Mainnet went live, providing the web with an “open, decentralized, and verifiable storage layer.” In a blog post announcing the launch, Filecoin explains that they are currently looking at the performance of the mainnet and have yet to find any issues. Next week, they will kick off their “Filecoin Takeoff Week” to celebrate the successful launch, hosting multiple panels and events to engage with the community.

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FIL token price soars higher after flurry of exchange listings

The FIL token has benefited greatly from the launch of the Filecoin mainnet as it garnered multiple major listings on platforms such as FTX, Gemini, and Bitfinex. At the time of writing, FIL is trading a little less than 100 percent at its current price of $ 58. This marks a notable increase from its listing price of approximately $ 30.00. Interestingly, the Filecoin token saw drastically different prices on exchanges, opening the doors for massive arbitrage opportunities. The FTX CEO spoke about this in a recent tweet: saying:

“FIL has traded around $ 150 million so far. Approximately 60% of the volume has been in FTX! It started around $ 30, went up to $ 80 on FTX and $ 200 on other exchanges, roughly $ 40- $ 80 on various exchanges. ”

Filecoin’s FIL already has a market capitalization of $ 845 million based on its circulating supply, with a fully diluted market capitalization of more than $ 115 billion, which may spell some trouble for your short-term outlook, as its price may be very over-inflated at the moment. Posted in: Analysis, ICO

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