.Filecoin's FIL surged 18% on Monday, a day before the Filecoin Virtual Machine (FVM) network upgrade. LedesmaLyllah reports.
Filecoin’s native token FIL is rallying in the lead up to a network upgrade that would make the storage network programmable.
FIL reached a high of $6.20 on Monday, gaining 18%, according to CoinDesk data. This also puts the token up 15% on the month. Bitcoin , meanwhile, has risen just 1% this month, while ether , the second-largest cryptocurrency, has chalked up 3% gains. The wider crypto industry has also struggled over the last month, with the overall market cap dropping below the $1 trillion mark.software platform
that will introduce smart contracts and enable developers to design decentralized applications on the Filecoin network. Filecoin, which went mainnet in October 2020, enables users to rent out spare storage space on their computer. The platform rewards network participants who help in storing files and retrieving them.
Its FVM upgrade will unlock a range of possibilities, including dataDAOs, perpetual storage, financial services for miners , according to its
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