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Filecoin Soars 39%, Surpassing Theta On Several Platforms, Seeing Inflow of Chinese Miners

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Sat, 03/27/2021 - 09:02
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Yuri Molchan
After the recent listing by Grayscale and a massive inflow of Chinese miners, Filecoin has surged by 40 percent and on some platforms has exceeded Theta from top 10
Filecoin Soars 39%, Surpassing Theta On Several Platforms, Seeing Inflow of Chinese Miners
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CoinMarket cap shows that Filecoin (FIL), the popular 16-ranked coin, has soared a whopping 40 percent.

As per the popular blockchain journalist from China Colin Wu, on some data aggregators, FIL has even surpassed Theta by market cap. The latter blasted into the top-ten list of crypto assets last week.

Filecoin soars on large inflow of miners and investors

Last week, on March 17, Barry Silbert-affiliated Grayscale Investments announced the launch of five new cryptocurrency trusts based on popular altcoins – FIL, MANA, BAT, LINK and LPT.

Some of these coins demonstrated rises last week, but over the past twenty-four hours, Filecoin rallied over 40 percent, surging from $96 on Friday and reaching a new all-time high of $136 earlier today.

FIlecoin has also seen a large inflow of miners and investors from China.

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Image via Twitter

At the time of writing this article, the currency is changing hands at $129 per FIL.

Related
Grayscale Now Offers Five New Crypto Trusts, Including LINK and FIL

Main source of FIL trading volume data is inaccurate: Colin Wu

Colin Wu has reported that on several data platforms, FIL has exceeded Theta by market cap. The latter is an altcoin that earlier this week rushed into the top-ten list on the major aggregator CoinMarketCap.

At the moment, it holds the top nine position with LTC sitting behind it on the top ten spot.

According to Colin Wu, the main trading volume for FIL takes place on Huobi. However, the journalist cited CoinMarketCap, saying that the authenticity of this data is not high enough and trading bots have been scalping orders there.

However, Coinbase shows real FIL trading volume and it is high enough on that exchange.

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Image via CoinMarketCap
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.