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Filecoin cryptocurrency soared 6 times — what's going on?

The Filecoin (FIL) cryptocurrency has approached the $140 level in recent days, having risen in price by more than 60% over the past week.

Over the past two months, the token has grown almost six-fold on the back of positive news, repeatedly rewriting historical highs and taking the 16th place in the rating of crypto assets by capitalization.

In addition to saving their savings and a relatively anonymous financial life, cryptocurrency users also need decentralized data storage. The relevance of this task shows the success of the Filecoin project. The primary purpose of the project is to use the excess device space for storing user data, paying them a reward in the form of a FIL token for providing space.

A series of good news began for the project with the announcement of Grayscale. A large fund that manages crypto assets announced the launch of the Filecoin fund on March 17.

On Saturday, March 27, Filecoin announced that the coin can now be mined together with Livepeer. Joint mining is a rare phenomenon in the cryptocurrency world. Of the major projects, only Dogecoin and Livecoin cooperate in this way. The users liked the news.

Chinese crypto journalist Colin Wu noted several other important events. In particular, the expert drew attention to the influx of Chinese miners and users to the project in anticipation of the release of the first investment token.

In addition, the cryptocurrency exchange Coinbase has launched new tokens Ankr and Storj of similar projects of decentralized data storage, and Filecoin and Chainlink (LINK) have announced cooperation.

Filecoin is a relatively young project. The main network was launched on October 15, 2020. According to Filfox, the storage capacity on the platform is already 3.6 billion gigabytes and has 1718 active miners.

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Ripple: will investors be able to participate in the SEC's lawsuit against Ripple?
The court will consider the request of Ripple (XRP) investors to participate in the case of the US Securities and Exchange Commission (SEC) against the cryptocurrency startup Ripple.The District Court for the District of New York has approved a motion by attorney John Deaton for investor interference in the SEC and Ripple litigation.The request must be submitted by April 19. If the plaintiff (SEC) has any counter-objections, the documents must be filed by May 3. The official response of the court will be announced on May 17, writes block-chain24.Earlier, Judge Analisa Torres rejected the XRP community's request to file a motion to intervene in the litigation between the regulator and Ripple. Now such an opportunity appears in the case of a positive court decision.In early January, a group of investors demanded that the regulator change the lawsuit against the California company and stop calling the coin a security. According to them, the SEC "intentionally and intentionally" caused XRP holders "multibillion-dollar" losses.In March, the SEC filed a motion with the court to dismiss the claim. In the same month, Deaton announced the intention of the token holders to participate in the lawsuit as a third party to protect their interests.Recall that in December 2020, the SEC accused Ripple, its CEO Brad Garlinghouse and co-founder Chris Larsen of unregistered sale of securities worth $1.3 billion in the form of XRP.The agency later corrected the lawsuit, focusing on the actions of Larsen and Garlinghouse. According to the regulator, they manipulated the price of the asset and personally received $600 million from the sales.From other news. Ripple has bought 40% shares in the Asian company Tranglo, specializing in cross-border payments. Ripple plans to improve the payment ecosystem in Southeast Asia, meet the growing demand and expand the presence of the On-Demand Liquidity product in the region.Earlier, the CEO of Ripple called the On-Demand Liquidity platform the future of the banking system, which will significantly increase the capitalization of XRP. The platform replaced xRapid, coinciding with its predecessor in terms of using the XRP cryptocurrency.
01.04.2021 Avatar Prince Read
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