Filecoin Launches Cross-Chain Data Bridge with Avalanche C-Chain

Filecoin (FIL) exhibited a volatility range of 5.4% in the last 24 hours, trading between $2.39 and $2.52. Key points include:

  • Mid-session decline to $2.39 followed by a recovery of 5%.
  • Trading volume exceeded 2.8 million units during the correction phase, indicating institutional interest.
  • Launch of a cross-chain data bridge between Avalanche C-Chain and Filecoin enhances connectivity for smart contracts and data infrastructure.
  • Wider crypto market rose, with the Coindesk 20 up 3.1%.
  • Current trading price of FIL is approximately $2.50, reflecting a 2% increase over 24 hours.
Technical Analysis:
  • Controlled volatility within a $0.13 range during the trading period.
  • Upward momentum began at 19:00, continuing through the night.
  • Institutional participation confirmed by elevated volumes exceeding 2.8 million units during corrections.
  • Sustained corporate adoption potential indicated by volume spikes above 50,000 units.