The decentralized Cloud Storage Marketplace and Protocol, Filecoin(FIL), is hoping to accelerate growth by revealing a team of public goods developers.
Filecoin’s latest announcement?
FIL Builders, also known as FIL B, was launched on August 22nd, 2024 by the largest project within the Decentralized Physical Infrastructure Network (DePIN), based on market capitalization.
FIL Builders, according to the Filecoin Team, brings together “an Independent Public Goods Developer Experience (DX team)” that is dedicated to pushing the boundaries of the Filecoin Ecosystem.
FIL-B brings Filecoin many benefits.
This initiative is designed to help businesses integrate on-chain solutions into Filecoin’s blockchain network.
Filecoin projects can extend Filecoin’s dominant position in this space and broaden its presence within the marketplace for decentralized computing, distributed finance.
FIL-B provides resources to help with projects. This includes Filecoin’s tech stack as well as technical workshops and guidance.
DX will collaborate with FilOz and FilPonto, as well as other developers teams.
The second goal is to encourage adoption of the Filecoin Ethereum Virtual Machine and Filecoin Virtual Machine by helping them integrate with and take advantage of interoperability.
Filecoin is a revolutionary solution for cloud storage, and can challenge the traditional players.
Filecoin price surges 4%
This new event has pushed the FIL/USD price from $3.87 lows to over $4.05.
Data from CoinGecko shows that Filecoin’s market capitalization is $2.3 billion.
The top 5 DePIN networks ranked by market capital are Render (RNDR), Arweave, The Graph and Theta Network.
The five projects all registered gains of double digits in the last week. This was boosted by several positive developments and the sentiment which has propelled Bitcoin to $61, 000.
FIL price prediction
The technical view of the FIL/USD daily chart suggests that bears remain in the majority.
FIL/USD continues to be a struggle in a channel that is descending, the major resistance being at the trendline upper. This is currently around $4.80.
The price of Filecoin has risen above both the median line and 50-day simple Moving Average (SMA).
Relative Strength Index on the daily chart also points to a potential upward continuation following the consolidation which had FIL restricted below $3.80.
The Moving Average Convergence Divergence indicator (MACD), which has indicated a bullish cross-over, is also expected to increase the resolve of buyers.
If bears assert their dominance, primary support could be as low as $3.20.
As updates occur, this post Filecoin introduces FIL Builders to catalyze ecosystem growth could be changed.
