FIL is up 28% in seven days, rating eleventh amongst high 100 crypto property.
Filecoin, a decentralized file storage community, is up 17% in three days after saying an integration with Solana, the effervescent Layer 1 community.
Filecoin introduced the information on Feb. 16, revealing it will host Solana’s block historical past shifting ahead. The transfer permits Solana-based ecosystem and infrastructure tasks to maneuver away from centralized knowledge storage options, bolstering Solana’s decentralization.
“By leveraging Filecoin’s decentralized storage capabilities, Solana can obtain knowledge redundancy, scalability, and enhanced safety whereas staying true to its decentralized ethos,” Filecoin tweeted. “Solana is using Filecoin to make its block historical past extra accessible and usable for infrastructure suppliers, explorers, indexers, and anybody needing historic entry.”
“I’m actually excited to see this launch,” mentioned Anatoly Yakovenko. “Large due to Filecoin for constructing an superior decentralized archive layer.”
The information has propelled bullish momentum for Filecoin’s native FIL token, which is up 11% in 24 hours and 28% over the previous week, rating seventh and eleventh amongst high 100 cryptocurrencies respectively, in accordance with CoinGecko. Nevertheless, the token stays down 13% from its early-January native excessive.
Solana’s bullish momentum slows
The information follows a meteoric run for Solana, with its SOL token surging 470% because the finish of September as issues that FTX, the bankrupt centralized change, might transfer to dump giant sums of SOL alleviated.
The bullish momentum briefly pushed Solana to overhaul the Ethereum mainnet by a number of key metrics, with Solana’s every day energetic customers, DEX quantity, and NFT gross sales surpassing Ethereum in November. USDC on Solana ranked because the most-traded stablecoin in early January, additionally coinciding with Google search quantity for “Solana” surpassing “Ethereum.”
Nevertheless, Solana’s momentum got here to an abrupt halt earlier this month when a catastrophic outage induced 5 hours of downtime and necessitated a community restart. The incident drew renewed criticism regarding Solana’s reliability and centralized structure, marking the eleventh spate of degraded efficiency in two years for the community.
Nonetheless, SOL is up 1.6% in 24 hours and 6.7% over seven days. SOL is the fifth-largest cryptocurrency with a $50.2B, having fallen behind BNB Chain after momentarily flipping BNB final week.
