Filecoin Launches Today After Raising $200 Million In ICO 3 Years Ago

Filecoin launches today after raising $200 million in ICO three years ago so now the investors will see if it was worth it. The blockchain kicked into action today as we are reading more today in our latest blockchain news.

Filecoin launches today and investors are eager to see where the price of Filecoin’s token will land but the price will remain highly volatile. The decentralized filing sharing protocol kicked into action today when the blockchain’s miners finished mining at block 148,888. It raised $200 million in an initial coin offering three years ago and now the FIL token went live and its early investors will get to find out if it was worth it.

At the moment, the coin’s price is volatile and the price of one coin is $68 according to the data from Coinmarketcap. CoinGecko which is another metrics site pegs the price at $29 while Uniswap puts it at $25.56 and Gemini at $29. Futures contracts predicted the price of Filecoin yesterday that will set around $32. At this rate, it’s too early to tell where the file coin prices will land as most exchanges are opening up for the coin. It costs about $70 to place a trade for Filecoin on decentralized exchanges Uniswap.

When Huobi which is one of the major exchanges that open the trading for Filecoin, priced the coin at $50 which is when the traders went into action and slipped a little to $46 a few minutes later. The people started trading it and the price spiked to $200 and then to $205. The ICO investors would have made a fortune if this rally lasted but the coin is now down to $130. The promise of Filecoin aside from speculation is the decentralized file sharing service. if you are familiar with dropbox, it’s kinda the same but instead of renting out space in the data center, you will encrypt your file and hosting small pieces of it on a computer all over the world.

While the coin launched an hour ago, the investors didn’t doubt watching with excitement while at the same time still fearing that the coin could crash and will leave them with nothing.