Filecoin Surges by 40% Within 24 Hours

Filecoin (FIL) has surged by a whopping 40% in the past day, according to Coinmarketcap, effectively going past coins like Theta in terms of performance and ranking.

According to Chinese blockchain writer, China Colin Wu, going by some information aggregators, Filecoin has outperformed Theta, after Theta also posted an incredible increase in market cap in recent weeks.

Filecoin Surges After Listing

The recent surge of Filecoin into the top 9 is no coincidence. After the coin was listed by Grayscale along with other popular altcoins – BAT, LPT, and MANA – on March 17, it was only expected that there would be a response of some sort.

Source: Wu Blockchain

Few people might have expected, however, that the response would be FIL reaching an all-time high. Some of the five coins listed by Grayscale showed rises even within hours of being listed, but none has maintained the same momentum as the storage coin. 

Within the last 24 hours, a week after it was listed, Filecoin energized more than 40%, ramping up from $96 on Friday to arrive at another unsurpassed high of $136.

Theta itself had experienced a similar increase last week, racing into the top ten only to have FIL continue its steady surge with fellow listed altcoin, LTC, following closely behind it. LTC now takes the tenth spot behind FIL at ninth.

Colin Wu has however stressed that since the most of FIL’s happens on the Chinese exchange, Huobi, the aggregated data might not be foolproof due to the high rates of scalping orders peculiar to Huobi.

In any case, Collin says the impact of Chinese miners and the recent listing cannot be denied in FIL’s recent surge.

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