Distributed storage network project Filecoin is the talk of the town as FIL was the most highly traded token on Huobi, OKEx and Gate on Thursday. These three exchanges have a predominantly Chinese user base and represent a large part of the Tier One trading volume for major pairs. On Thursday afternoon, Huobi trading volumes of FIL were more than three times that of BTC as the price reached a 7-day increase of 170%. Filecoin has had strong success in capturing the attention of Chinese investors, including large investment groups such as Fenbushi Capital, SNZ Capital and Neo’s EcoFund. These …
Filecoin (FIL) is one of the most prominent coins in the storage sector of cryptocurrencies. In the past month, the price and market capitalization of FIL has rocketed to new highs. On April 1, the coin reached $233.68 along with breaking into the top 10 cryptocurrencies by market capitalization. Basically, Filecoin is a decentralized cloud-based data storage network that allows its users to gain rewards on selling their excess storage on an open-source platform. Filecoin is made by Protocol Labs. Although FIL’s stint in the top 10 list was short-lived, it’s important to note that Filecoin’s fully diluted market capitalization …
Cryptocurrency infrastructure providers Anchorage and Tokensoft are teaming up to wrap FIL, the native token of decentralized file storage network FIlecoin, for use on Ethereum. The firms announced wFIL on Monday, promoting its use in decentralized finance applications including Compound, Maker and Uniswap. Filecoin ecosystem lead Colin Evra stated: “Wrapped Filecoin will enable some really creative DeFi products that create huge opportunities for Filecoin miners and storage users.” The news came the same day that Filecoin announced the storage capacity dedicated by its global mining community has exceeded one exbibyte — equal to more than one billion gigabytes. According to …
The Cardano network is in the watershed phase of its network development and upgrades. The ongoing phase of the protocol’s roadmap is the Goguen phase, bringing smart contracts to the network. This is the third phase of the roadmap after Byron and Shelley. The Goguen phase was split into three stages, Allegra, Mary and Alonzo. The Allegra update went live on December 16 last year, and the Mary update was deployed on the mainnet on March 1 earlier this year. This leaves the Alonzo upgrade, which was further split into three different phases, named Blue, White and Purple. While the …
This weekly roundup of news from Mainland China, Taiwan and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Huobi Asset Management is looking to be the Grayscale of Asia with the launch of four cryptocurrency-related tracker funds. The funds include a Bitcoin Fund, an Ethereum fund, a multi-asset basket of digital currencies, and a private equity fund for mining businesses. The aim is clearly to entice major institutional investors into the space with a product that feels familiar. The fund and asset management company is set …