Cryptocurrency Filecoin Down More Than 6% Within 24 hours

Filecoin’s FIL/USD price has experienced a decrease of 6.52% in the past 24 hours, with its current value at $5.38. This decline is part of a continuing downward trend over the past week, where the price has dropped by 26.0% from $7.24.

Analyzing the price movement and volatility of Filecoin, we can observe the chart below. On the left side, it shows the price movement for the past 24 hours, while on the right side, it displays the price movement for the past week. The gray bands on the chart represent Bollinger Bands, which measure the volatility of both the daily and weekly price movements. The wider the bands, or the larger the gray area, the higher the volatility.

Additionally, the trading volume for Filecoin has decreased by 57.0% over the past week. However, the circulating supply of the coin has increased by 0.83% to over 492.60 million. This means that the current circulating supply represents approximately 25.12% of its maximum supply, which is 1.96 billion. In terms of market capitalization, Filecoin currently holds the #35 rank with a value of $2.65 billion.

It is important to note that this article has been generated by Benzinga’s automated content engine and has been reviewed by an editor. As such, it is crucial to conduct thorough research and analysis before making any investment decisions. Benzinga does not provide investment advice.

In conclusion, Filecoin’s price has experienced a significant decrease over the past 24 hours and week. The coin’s trading volume has also dropped, while its circulating supply has increased slightly. Investors should exercise caution and conduct their own due diligence when considering investments in Filecoin or any other cryptocurrency.

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