Filecoin Experiences Significant Decline in Market Value
Filecoin Experiences Significant Decline in Market Value
Filecoin has recently faced a notable drop of 4.15% in its value over the last 24 hours, bringing its price down to $3.55. This decline has been part of a larger downward trend observed over the last week, with a decrease of approximately 1.0% from its previous price of $3.62.
Price Movement and Volatility Analysis
The price fluctuations of Filecoin can be illustrated through charts, which depict the volatility experienced over both the last 24 hours and the past week. A key feature in these charts is the inclusion of Bollinger Bands. These bands are vital in assessing the price's volatility—when they widen, it indicates increased price fluctuations.
Daily and Weekly Trends
The daily price movement presents a dynamic landscape for traders and investors alike. As observed, the ongoing volatility emphasizes the challenges presented in predicting short-term portfolio performance in a fluctuating market.
Trading Volume and Market Caps
In addition to its price challenges, the trading volume of Filecoin has diminished by 38.0% in the past week. This significant decrease raises questions about market activity and investor confidence in the cryptocurrency.
Supply and Market Ranking
Despite price fluctuations, the circulating supply for Filecoin has marginally risen by 0.06%, now exceeding 591.39 million FIL tokens. This positions the current circulating supply at approximately 30.17% of its maximum supply, noted at 1.96 billion tokens. At present, Filecoin holds a market capitalization of around $2.10 billion, ranking #44 in the cryptocurrency market.
Filecoin's Position in the Cryptocurrency Market
Filecoin's ranking and market activity provide insight into its position among other cryptocurrencies. Investors often monitor these metrics as indicators for potential investment opportunities or risks.
For those interested in cryptocurrency trading and investment, understanding the ongoing trends and market analysis is essential. This knowledge serves as a foundation for smart decision-making in the rapidly evolving crypto landscape.
Frequently Asked Questions
What caused the recent decline in Filecoin's price?
The recent 4.15% decline in Filecoin's price can be attributed to overall market volatility and reduced trading volume.
How has the trading volume changed for Filecoin?
Filecoin's trading volume has decreased by 38.0% in the past week, indicating a reduction in market activity.
What is the current market cap of Filecoin?
Filecoin's current market capitalization is approximately $2.10 billion, ranking it #44 among cryptocurrencies.
What does the increase in circulating supply signify?
The increase in circulating supply, reaching over 591.39 million FIL, indicates a growing availability of tokens in the market.
How do Bollinger Bands help analyze crypto price movements?
Bollinger Bands measure market volatility. Wider bands indicate greater price fluctuations, helping traders assess market conditions effectively.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
Related Articles
- Inflection Revolutionizes Global Employee Education Standards
- Cencora's Stock Growth: A Solid Investment Story Over 5 Years
- Affirm's Stock Sees Upgrade, Impactful Apple Pay Integration Ahead
- Empowering Women in Tech: 1,000 Dreams Fund's Global Initiative
- Are Teens Losing Interest in the Latest iPhone Models?
- Lawsuit Targets Lil Durk and Record Labels in Shooting Case
- Architect Securities Achieves FINRA Membership for Growth
- Experience a Magical Winter Wonderland at Fontainebleau Las Vegas
- Revolutionizing Hearing Aids: Starkey Introduces Edge AI
- Joyful Holidays Await with CPKC's 2024 Train Tour Announcement
Recent Articles
- Innovative Partnership Enhances Sustainability for Newell Brands
- Meta Expands Its AI Chatbot Reach to New Global Markets
- Transformative AI Analytics in Life Sciences and Healthcare
- Morocco Stock Market Sees Gains; Major Sectors on the Rise
- Survey Highlights Negative Effects of Ad Fatigue on Viewers
- Positive Trends for Celsius Holdings in Teen Energy Drink Market
- Zendesk Enhances Customer Experience with New AI Solutions
- Worthington Industries Sees Steady Performance Amid Changes
- Exploring Consumer Expectations Beyond Quick Shipping
- Priceline's Stock Achieves New Heights Amid Travel Resurgence
- Legal Claims Investigation for WEBTOON Entertainment Investors
- Primerica Shares Surge to Record High Following Strong Earnings
- Growing Demand in the Aircraft Brackets Market by 2031
- VSEE Stock Declines to New Low: A Deep Dive into Challenges
- Innovative Early Detection Technology Receives Major Funding Boost
- Hilton Worldwide's Stock Shines Bright: A Journey to New Heights
- Proteotype Receives £1.5 Million Grant for Groundbreaking Cancer Test
- Gentex Corporation Adjusts Outlook Amid Market Challenges
- Coastal Financial Corp Reaches Record High in Stock Performance
- MSCI's Strong Performance Drives Positive Outlook Ahead of Earnings
- BrightView Holdings Reaches New High as Investors Celebrate Success
- Impact of US Antitrust Actions on Google’s Future Growth
- Athens Stock Market Sees Decline Amid Mixed Performance
- Tel Aviv Stock Exchange Sees Positive Gains in Recent Trades
- NVIDIA's Stock Sees Strong Breakout and Future Potential
- Garrett Motion Unveils Zero-Emission Innovation Center
- Bigbank AS Unveils Exciting Subordinated Bond Offering
- Vishay's New Solid-State Relay Revolutionizes Automotive Technology
- Celebrating Excellence in GI Cancer Research: 2024 Luminary Awards
- Lipella Pharmaceuticals Announces Upcoming Presentation at Summit
- Sify Infinit Spaces' Debut Debentures Achieve Full Subscription
- Hydrofarm Engages Investors in Fireside Chat with Experts
- An Insight into Uber Technologies' Recent Options Activity Trends
- Understanding Exxon Mobil's Current Options Dynamics
- Alterra IOS Expands with New Industrial Storage Sites in Chicago
- Market Insights: What Big Investors Are Doing with AFRM
- Imagine360 Takes Center Stage in Healthcare Savings Recognition
- Delta Air Lines Prepares for Earnings Announcement; Analyst Updates
- The Impressive Journey of NIO Stock: A 5-Year Review
- Bitget Anticipates Solana Surge as Memecoin Excitement Grows
- Banzai International's Bold Move: $13.5M Profit Strategy
- Caterpillar Stock: Short-Term Concerns with Long-Term Promise
- New York Times: Strong Growth Ahead with Innovative Strategies
- Meta Platforms: Navigating Financial Prospects Amid Challenges
- Transforming Oxygen Therapy: Drive DeVilbiss's PulmO2 Launch
- SOBR Safe Raises $8.2 Million to Boost Alcohol Detection Solutions
- Fortis Solutions Group Advances Sustainable Packaging Initiatives
- Citi Raises United Rentals Price Target with Positive Insights
- Revolutionary Inspection Tool Launched to Tackle Insurance Fraud
- Key Updates for Bumble Investors: Class Action Legal Options Ahead